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BenefitsLink Health & Welfare Plans Newsletter
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[Guidance Overview]
Purchase Agreements Can Amend Benefit Plans
"Followed to its logical conclusion, the Fifth Circuit's reasoning in Evans is not limited to benefits provisions in purchase agreements — potentially any writing that discusses a plan and is approved by an individual, group, or entity with the authority to amend the plan is an amendment. This could mean, for example, that board resolutions, compensation committee rulings, or other documents not intended to amend a plan could, in fact, amend a plan."
(Bryan Cave LLP)
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CDC to Hold Series of Free Webinars to Launch the National Healthy Worksite Program
"Viridian, a company formerly known as Diversity Wellness L.L.C., will be organizing groups of up to 15 employers in 7 different regions in an effort to help CDC researchers evaluate the effectiveness of worksite wellness programs. The CDC will hold the first webinar for employers interested in participating in the program Dec. 20 and hold several more webinars in January 2012."
(LifeHealthPro)
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Chronic Disease May Increase Out-of-Pocket Costs for Insured
"Among families with employer-sponsored health care plans, those coping with chronic illness pay more out of their pockets than those without chronic illness, primarily because of higher prescription drug copayments, a new study finds."
(HealthDay via U.S. News & World Report LP)
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[Opinion]
How Health Care Reform Can Help Small Businesses
"There are many who argue that we should do away with the practice of employers providing health care. In 2009, Princeton economics professor Uwe E. Reinhardt wrote in The New York Times that the practice poses two problems."
(The SBA)
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Benefits in General; Executive Compensation
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[Guidance Overview]
ISS's U.S. Proxy Voting Guidelines for 2012
"[I]t is important for every public company to understand ISS's policies and how the company's practices measure up to those policies in order to take proactive steps related to anticipated or actual negative voting recommendations."
(Wilson Sonsini Goodrich & Rosati)
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[Guidance Overview]
Equity Arrangements and Change in Control Agreements
"Young was a split decision, 2 to 1. A vigorous dissent concluded that the unambiguous terms of the plan made clear that the executive had good reason to resign in February 2009, and that the compensation committee's reading of the plan was based on an interpretation that was contrary to the plan's unambiguous terms and therefore arbitrary under New York law."
(National Association of Stock Plan Professionals via Utz, Miller & Eickman, LLC)
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[Guidance Overview]
ISS's Updated Proxy Voting Guidelines for 2012
"U.S. Securities and Exchange Commission . . . rules require companies to provide shareholders the opportunity to vote on the frequency with which advisory say-on-pay votes will be held. ISS will recommend voting against any incumbent director on a board that implemented a say-on-pay vote less frequently than the frequency which received the greatest number shareholder votes."
(McDermott Will & Emery)
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[Guidance Overview]
New Jersey Requires Employers to Post New Notice and Provide Copy to All Employees (PDF)
"New Jersey Requires Employers to Post New Notice. The New Jersey Department of Labor and Workforce Development recently issued a new notice on employer reporting and recordkeeping obligations under state law. Along with posting in the workplace, New Jersey employers must provide a copy of the notice to each employee hired after November 7, 2011 at the time of hiring and to each employee hired before that date by December 7, 2011."
(Buck Consultants, LLC)
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Press Releases
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