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October 20, 2011 Get Retirement News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

Employee Benefits Jobs

Admin / Sales Assistant
for PenSys, Inc. in NC

Sales Specialist
for Northwestern Benefit Corporation of Georgia in GA

Defined Benefit - Client Service Manager
for JP Morgan in IL

Chief Operating Officer
for San Diego TPA in CA

Internal Wholesaler - Retirement Services
for MassMutual Financial Group in TN

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Webcasts and Conferences

US Department of Labor’s ERISA Advisory Council to Hold Public Meeting
in District of Columbia on November 8, 2011 presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)


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[Official Guidance]
Text of IRS Rev. Proc. 2011–52: Inflation-Adjusted 2012 Limits for Qualified Transportation Fringe Benefits, MSA Rules, Other Welfare Benefit Tax Code Provisions (PDF)
The monthly limit on the value of qualified transportation benefits exclusion for qualified parking provided by an employer to its employees for 2012 rises to $240, up $10 from the limit in 2011. However, the temporary increase in the monthly limit on the value of the qualified transportation benefits exclusion for transportation in a commuter highway vehicle and transit pass provided by an employer to its employees expires and reverts to $125 for 2012. (U.S. Internal Revenue Service)


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[Guidance Overview]
Departments Issue Summary of Benefits and Coverage Proposed Regulations (PDF)
"Unless delayed by final guidance, the summary of benefits and coverage generally must be provided for enrollments and reenrollments on and after March 23, 2012. The application of many of the requirements to group health plans is unclear, and additional guidance will be required." (Buck Consultants, LLC)

State Health Care Reform Update, October 20, 2011
"With the passage of federal health care reform, states will have increasing responsibilities in regard to employer-provided health insurance benefits." (Wolters Kluwer Law & Business / CCH)

What's Next on the Road to Health Care Reform for Group Health Plans?
"[I]t is not yet clear whether compliance with notification provisions intended to take effect in 2012 will be postponed. Some deadlines for plans with a calendar year plan year to keep in mind for 2012 are listed [in this article]." (The Bureau of National Affairs, Inc.)

San Francisco Board Approves HRA Restrictions
"On Tuesday, the San Francisco Board of Supervisors gave final approval . . . to a proposal . . . that would require funds remaining at the end of the year to be automatically rolled over to be used the next year. Terminating employees would have access to the funds for 18 months." (Business Insurance)

Overview of Latest Health Law Buzz Words: Essential Benefits, MLRatio and Federal Exchanges
"Officials from the Department of Health and Human Services are seeking input from stakeholders regarding how to structure the health law's essential benefits package. Also, new documents detail the dynamics behind Florida's MLR waiver request. Meanwhile, HHS signals that there will be a federal exchange." (The Henry J. Kaiser Family Foundation)

Auto Parts Industry Health Care VEBA Created
"The U.S. Bankrup.tcy Court for the Southern District of New York authorized creation of the Auto Retiree VEBA Trust which will provide thousands of retirees of auto part manufacturers access to subsidized health care benefits." (PLANSPONSOR.COM)

Wisconsin Senate Passes Bill on Adult Child Health Care Coverage Taxes
"Business Insurance reports that the measure, S.B. 203, would conform Wisconsin tax law to the federal health care reform law . . . ." (PLANSPONSOR.COM)

Benefits in General; Executive Compensation

[Official Guidance]
Text of EBSA Notice of 159th Meeting of Advisory Council on Employee Welfare and Pension Benefit Plans (PDF)
The open meeting of the Council, also known as the ERISA Advisory Council, will be held on November 8–9, 2011. (U.S. Employee Benefits Security Administration)

Bad Health and Pension News for SAG Members
"The Screen Actors Guild's Pension and Health Plans just informed members that minimum earnings to qualify for health coverage are increasing 2% effective January 1, 2012." (PMC)

Time and Education Tools Important to Employees during Open Enrollment
"The research shows that 97% of employees who had three-plus weeks to review their benefits education materials said it was enough time—but just 50% of respondents were given that much time. Those who had three or more weeks to enroll were more likely to rate their benefits and their benefits education as excellent or very good, compared to those with less than three weeks to enroll." (PLANSPONSOR.COM)

Press Releases

IRS Announces Pension Plan Limitations for 2012
(Internal Revenue Service (IRS))

IRS Begins PTIN Renewals for 2012 Filing Season
(Internal Revenue Service (IRS))

Heightened Awareness of Benefits Plays a Pivotal Role Within Employee Experience
(Mercer)

Workplace Wellness Program Saves Regence $9.2 Million
(Regence)

New York City Pensions Provide Retirement Income At Less Than Forty Percent Of The Cost Of Individual Accounts
(National Institute on Retirement Security)

Employers Plan for Lean 2012 Pay Increases, According to Buck Consultants
(Buck Consultants, A Xerox Company)

Practical Law Company Launches 'Employee Benefits & Executive Compensation' Service and Announces Panel of Legal Industry Leaders to Advisory Board
(Practical Law Company)

Planning Tool Helps Midsize, Large Employers Prep for Health Coverage Decisions
(Center for Healthcare Research & Transformation (CHRT))



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