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Employee Benefits Jobs
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Webcasts and Conferences
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[Guidance Overview]
2014 Payroll Nightmare for Employers That Helped Employees with Mass Transit Expenses
"[T]he retroactive application will drive payroll managers crazy. An alleged 'easier way' just announced in IRS Notice 2015-2 is not that easy, and it only applies to companies that act fast prior to filing the last quarter's Form 941 that is due on February 2, 2015. This [article] describes the Notice 2015-2 procedures for those who can meet the tough deadline, and the traditional correction method that otherwise applies. It also points out that this rejuggling of taxable compensation may affect the administration of other pay-related benefits, such as 401(k) plans."
(Chimento & Webb, P.C.)
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Eighth Circuit: No Statutory Damages for Employer's Failure to Provide Notification of COBRA Entitlement
"The district court had reasoned that Cole was not entitled to actual damages because the amount of her unreimbursed medical bills from May 2012 was less than the COBRA premiums she would have had to pay to maintain medical insurance. The district court also reasoned that Cole was not entitled to statutory penalties because 'Trinity Health acted in good faith,' '[Cole was] not harmed or prejudiced by Trinity Health's tardy notice of ...COBRA rights,' and '[Cole was] provided continued medical coverage for approximately eleven months after [her] termination.' " [Cole v. Trinity Health Corp., No. 14-1408 (8th Cir. Dec. 15, 2014)]
(Cary Kane ERISA Lawyer Blog)
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What Happens If the Federal Exchange Subsidies Go Away?
"While the anticipated migration from silver plans to bronze plans would lessen the premium increase for consumers if they lost subsidies, they would still pay thousands more for health insurance annually.... The bronze plan premium average for a 40 year-old is 15% below the average pre-subsidy cost of plans chosen on the exchange (which are predominantly silver plans for an unspecified average age). However, this amount is still over two and a half times the amount of the average subsidized premium on the federal exchange."
(HealthPocket)
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In Colorado, Disparity in Health Plan Prices Underscores Ambitions, and Limits, of ACA
"The wild disparity in prices results from many insurers trying to attract more customers by pricing plans as low as they can. But it is not at all clear that the low prices will be sustainable, so prices may well swing sharply upward as time goes on.... Insurers say they still do not have a firm grasp of what premium levels will allow them to cover the people who are signing up and not lose money on their medical care."
(The New York Times; subscription may be required)
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Counting Down the ObamaTax
" 'TurboTax, an online tax service, estimated that the average penalty for lacking health insurance in 2014 will be $301.' On the one hand, that's a lot more than $95, but on the other, it's likely less than one month's premium, especially for folks who don't qualify for a subsidy."
(InsureBlog)
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Governor Jerry Brown Tackles California's Retiree Health Liability
"California faces an estimated $72 billion unfunded liability for more than 800,000 state employees and their families to provide health coverage once workers retire from civil service and for those who have already retired.... State costs have quadrupled since 2001. The Democratic governor announced this month that he wants to negotiate with state workers to start chipping in half of the cost to bring down that liability. Brown wants new employees to work longer in order to qualify for full retiree health benefits. California has one of the biggest retiree health liabilities, along with New York and New Jersey[.]"
(KCRA.com)
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Benefits in General; Executive Compensation
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[Guidance Overview]
Understanding Form W-2 When It Includes Income from Stock Compensation
"The vesting of restricted stock, the share delivery from restricted stock units (RSUs), and the vesting of performance shares all prompt W-2 reporting of the income received. The treatment on the W-2 is essentially the same for all three grant types.... With incentive stock options, the spread value appears on the W-2 only when you make what is technically called a disqualifying disposition, i.e. when you sell or gift the stock before you have met the required holding periods of one year from exercise and two years from grant. In that case, the income appears on the W-2 as compensation income.... If you sold shares from stock compensation or an ESPP last year, you'll need guidance to report the sale proceeds on your tax return."
(myStockOptions.com)
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DOL Seeks Cloud Vendors for ERISA Website
"The Department of Labor is looking for vendors able to provide a FedRAMP-certified cloud to host the [ERISA] public disclosure website. The site -- which maintains filings on pension and health plans offered by private companies -- currently contains approximately 12 terabytes of pdf forms, growing by about 450 gigabytes a year. The cloud website would host all the documentation and provide a search function for users." [Text of the RFI is online: Sources Sought for Cloud Support Services.]
(Federal Times)
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Press Releases
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