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February 27, 2012 Get Retirement News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

Employee Benefits Jobs

401k Wholesaler
for AXA Equitable in OR, WA

Account Manager
for Northwestern Benefit Corporation of Georgia in GA

Employee Benefits Attorney
for Quarles & Brady LLP in IL

Pension Consultant/Administrator
for Third Party Administrators, Inc. in NH

Operations Specialist
for Verisight, Inc in CA

Retire Secure Employee Benefit Specialist
for Principal Financial Group in MA

Project Manager, Defined Contributions
for The Newport Group in NC

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Webcasts and Conferences

2012 Fall Forum in Chicago, IL
in Illinois on September 17, 2012 presented by Ascensus

2012 Fall Forum in Orlando, FL
in Florida on October 22, 2012 presented by Ascensus

2012 Fall Forum in San Diego, CA
in California on October 1, 2012 presented by Ascensus

2012 IRA Institute in Clearwater Beach, FL
in Florida on October 29, 2012 presented by Ascensus

2012 IRA Institute in San Antonio, TX
in Texas on April 30, 2012 presented by Ascensus

Half-Day HSA Workshop
in Wisconsin on March 23, 2012 presented by Ascensus

Half-Day HSA Workshop
in Florida on May 3, 2012 presented by Ascensus

Half-Day HSA Workshop
in California on May 9, 2012 presented by Ascensus

Half-Day HSA Workshop
in Oregon on May 10, 2012 presented by Ascensus

Half-Day HSA Workshop
in Virginia on May 17, 2012 presented by Ascensus

Half-Day HSA Workshop
in Wisconsin on May 17, 2012 presented by Ascensus

Half-Day HSA Workshop
in Minnesota on June 7, 2012 presented by Ascensus

Half-Day HSA Workshop
in Texas on June 7, 2012 presented by Ascensus

IRA Essentials and Advanced IRAs
in Georgia on March 6, 2012 presented by Ascensus

IRA Essentials and Advanced IRAs
in Kansas on March 6, 2012 presented by Ascensus

IRA Essentials and Advanced IRAs
in Massachusetts on March 8, 2012 presented by Ascensus

IRA Essentials and Advanced IRAs
in Wisconsin on March 19, 2012 presented by Ascensus

IRA Essentials and Advanced IRAs
in Texas on March 20, 2012 presented by Ascensus

IRA Essentials and Advanced IRAs
in Wisconsin on March 21, 2012 presented by Ascensus

IRA Essentials and Advanced IRAs
in Oklahoma on March 22, 2012 presented by Ascensus

Two-Day IRA Workshop
in Florida on May 1, 2012 presented by Ascensus

Two-Day IRA Workshop
in California on May 7, 2012 presented by Ascensus

Two-Day IRA Workshop
in Oregon on May 8, 2012 presented by Ascensus

Two-Day IRA Workshop
in California on May 10, 2012 presented by Ascensus

Two-Day IRA Workshop
in Virginia on May 15, 2012 presented by Ascensus

Two-Day IRA Workshop
in Wisconsin on May 15, 2012 presented by Ascensus

Two-Day IRA Workshop
in Minnesota on June 5, 2012 presented by Ascensus

Two-Day IRA Workshop
in Texas on June 5, 2012 presented by Ascensus

Webinar - Choosing the "Right" Retirement Plan
Nationwide on February 28, 2012 presented by Ascensus

Webinar - IRA Basics
Nationwide on February 28, 2012 presented by Ascensus


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[Guidance Overview]
DOL 's Proposed Regulations on FMLA's Military Family Leave and Airline Flight Crew Eligibility Changes
"Although the changes have only been proposed at this point, employers that are subject to the FMLA will want to familiarize themselves with the proposed regulations. To help with this task, a DOL website provides additional resources, including fact sheets, FAQs, and other information about the proposed regulations." (Thomson Reuters/EBIA)


Ensure your Plan Participants are Prepared for a Secure Retirement   [Advert.]

Sponsored by Pensions & Investments

Defined Contribution Conference, March 11-13, in Miami. Learn from your peers through presentations and discussions on plan design, communications, investment options and more. FREE registration for qualified plan sponsors. Click here for more.


[Guidance Overview]
Five Questions About the Health Law's Mandate to Cover Birth Control
"Under the health law, insured women will qualify for contraceptives without a copayment as part of a range of preventive medical services. But insurers and advocates are frustrated by the lack of details. They're asking, for example, whether surgical procedures must also be covered at no additional cost to patients." (Kaiser Health News)

A Wait-and-See Approach for States on Insurance Exchanges
"States are lagging in the creation of health insurance exchanges, the supermarkets where millions of consumers are supposed to buy subsidized private coverage under President Obama's health care overhaul." (The New York Times; free registration required)

Federal Defense of Marriage Act Found Unconstitutional Again
"Employers with employees who seek coverage under their benefit plans for their same-s.ex spouses would be justified in wondering exactly what they should do under federal law. The federal Defense of Marriage Act (DOMA) is still in force, but the Obama administration will not enforce or defend it. And now another court [namely, a federal district court in California] has found it unconstitutional." (Thomson SmartHR Manager)

Health Care History: How the Patchwork Coverage Came to Be
"Most of us get health insurance through our jobs, a system puzzling to the rest of the industrial world, where the government levies taxes and offers health coverage to all as a basic right of modern society. But for many Americans, their way feels alien -- the heavy hand of government reaching into our business as some bureaucrat tells doctors and patients what to do." (Los Angeles Times)

Work/Life Loses its Balance
"Corporate leaders now say work/life balance isn't as important to them as it was several years ago, a survey finding that is probably indicative of the economic situation, generational differences and the advances in mobile technology. Still, experts say, individual leaders may react differently, so it's important for HR leaders to find out what motivates their top talent to be productive and effective." (Human Resource Executive Online)

Insurance as Delegated Purchasing: Theory and Evidence from Health Care
"Household demand for actuarially unfair insurance against small risks has long puzzled economists. One way to potentially rationalize this demand is to recognize that (non-life) insurance is an incentive-compatible means of engaging an expert buyer. To quantify the benefits of expert buying, we compare prices paid by the insured and uninsured for health care." (The National Bureau of Economic Research; paid subscription or individual purchase required to retrieve full text)

West Virginia Reins in Public Retiree Health Benefit Costs
"West Virginia is already reaping benefits from recent efforts to rein in public retiree health benefit costs, officials say: They expect to shrink the projected funding shortfall further, by more than $1 bil.lion, and a Wall Street credit rating agency appears ready to praise the state's handling of its last major liability." (The Herald-Dispatch)

Worcester, Massachusetts, Suspends Contractor Requirements for Health Insurance, Apprentice Training
"[The city manager] is suspending enforcement of ... health insurance provisions in the city's 15-year-old responsible employer ordinance. His action follows a recent federal court decision striking down similar provisions in Fall River's responsible employer ordinance. This means that certain contractors for the city no longer need to ... give workers health insurance." (telegram.com)

PPACA Commissions Rule Sparks Lobbying Push by Brokers
"The looming presidential election could have an impact on whether insurance producers will be able to get their commissions excluded from minimum medical loss ratio calculations under the Patient Protection and Affordable Care Act." (Business Insurance)

Taking the Health Care Tax Deduction
"To qualify for a healthcare tax deduction, you need to spend more than 7.5 percent of your adjusted gross income on health costs, as only the expenses above that threshold can be deducted. The U.S. Census has reported that real median household income in 2010 was still below its 1999 peak, so the combination of rising costs and lower incomes could produce more qualifying deductions." (Reuters)

Changing How We Care for the Incurable
"[H]ow we live life and face our inevitable death are determined by a nameless and faceless bureaucracy that we call "the system." While there are deficiencies and inadequacies at every level, the sum of these broken parts can total disaster for people who live with pain, and those who fear dying in pain." (U-T San Diego)

Businesses Turn to High Deductible Medical Insurance
"Employers in Inland Southern California and across the nation have tried to shield themselves from soaring medical insurance premiums by shifting more of the cost to their workers." (The Press-Enterprise)

Per-Person Cost of Federal High-Risk Medical Plan Doubles
"Medical costs for enrollees in the health-care law's high-risk insurance pools are expected to more than double initial predictions ... Those who have enrolled in the [Pre-Existing Condition Insurance Plan] are projected to have significantly higher medical costs than the government initially expected." (The Washington Post; free registration required)

State to Close Program on Federal Health Law
"A program created to help insurance-seekers in Texas cut through the complexities of federal health care reforms is shutting down in April ... [M]illions of new patients will be required to acquire health insurance and those first-time policy holders will need help understanding their rights and benefits." (The Texas Tribune)

N.H. GOP Moves To Revise State's Contraception Law
"State GOP leaders oppose the new federal rule compelling insurers to provide birth control to employees of religious organizations. They want to change a 12-year-old state law that requires contraceptive coverage under insurers' prescription drug policies." (NPR)

State of California Retiree Health Benefits Program: GASB Nos. 43 and 45 Actuarial Valuation Report as of June 30, 2011 (PDF)
"The valuation was based on census information as of June 30, 2011, and measures actuarial liabilities as of June 30, 2011. The report includes expense and financial reporting information applicable to fiscal year end June 30, 2012, and a projection of annual expense for fiscal year end June 30, 2013." (Gabriel, Roeder, Smith & Company)

Chart: OPEB Prefunding Analysis of California Retiree Health Benefits (PDF)
This is an analysis of the 2011 Valuation. (Gabriel, Roeder, Smith & Company)

[Opinion]
Regarding the Recent Article in Health Affairs Magazine on Massachusetts Health Reform: What Were They Thinking?
"Based on telephone surveys, the authors declare that RomneyCare 'continued to fare well in 2010.' This is an important finding, as the authors consider RomneyCare 'the template for the federal Affordable Care Act of 2010.' Unfortunately, in several cases the authors fail to inform readers that their results are contradicted by other, possibly more reliable, sources of information. They also neglect to put some of their results in proper context." (National Center for Policy Analysis)

[Opinion]
Analysis: Health Care Myths and Realities — Seeking the Truth about High-Deductible Plans
"Insurers regularly trot out studies, which they themselves conduct, as part of their ongoing campaign to persuade employers that haven't yet joined in, to get with the program. Earlier this month, for example, my former employer released the results of the 'Sixth Annual Cigna Choice Fund Experience Study.' A press release crowed that, 'When American workers engage in health-smart habits offered in consumer-driven health plans, they reduced their health risks and lowered their total medical costs an average of $9,700 per employee over a five-year period.'" (iWatch News)

[Opinion]
Health Care Reform Is Needed Because the Current System Isn't Working
"It is well documented that when faced with high deductibles, people reduce both needed care as well as unnecessary care because when you are sick and not a doctor, it's hard to know which is which. Is that the kind of health care system we want?" (The Baltimore Sun)

Benefits in General; Executive Compensation

Summary Judgment Rulings in ERISA Retained Asset Account Cases (PDF)
"U.S. District Courts in Pennsylvania and Maine ruled on summary judgment motions in two putative class actions challenging the use of retained asset accounts in connection with ERISA-governed plans." (Sutherland)

Adding Protections to Your Company's Non-Qualified Deferred Compensation Plan
"Some NQDC plan documents contain features that can increase the likelihood you will receive your benefits even if the company suffers financial difficulty." (myNQDC; free registration required)

Workers Would Trade Pay for Better Retirement Benefits or Lower Health Care Costs
"According to more data released from the 2011 Towers Watson Retirement Attitudes Survey, more than half of the 9,000-plus respondents said they would readily trade a slice of their pay for better retirement benefits or health care costs that don't explode on each annual renewal." (BenefitsPro)

EEOC: Asking Employees To Explain Medical Absences Violates the ADA
"Asking an employee to explain the nature of an illness that has kept them out of work violates the Americans with Disabilities Act, the Equal Employment Opportunity Commission is arguing in an ongoing California case." (Thompson SmartHR Manager)

Press Releases



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