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Single-Payer Insurance Puts More of the Money Spent Into the Health Care Delivered

Excerpt: The Senate Finance Committee has heard about the problem of overhead. On Nov. 19, Professor Uwe Reinhardt, who is also on the board of trustees of the 900-bed Duke University Hospital, used Duke to illustrate the problem: 'We have 900 billing clerks at Duke. I'm not sure we have a nurse per (each) bed, but we have a billing clerk per bed?it's obscene.' Two days later, the New York Times published his article: 'Why does U.S. Health Care Cost So Much? (Part II): Indefensible Administrative Costs.'

IRS Tax Forum 2013: Grab the Money and Run? Retirement Plan Loans and Hardship Distributions (PDF)

[42 presentation slides.] "[W]e'll talk about two common means for employees to access their retirement savings: loans and hardship distributions. We' ll talk about when they're allowed, how the money may be taxed to employees, and what special rules apply to employers who offer loans and hardship withdrawals in a retirement plan. We'll also talk about things that can go wrong, such as when loans aren't repaid on time or when business owners bend the rules. We'll also address what you can do to fix a mistake in your retirement plan to avoid adverse tax consequences. Our goal is to help you stay on track as you balance the urgent needs of today and the secure retirement your plan is designed to provide in the future."

Will They Take the Money and Work? An Empirical Analysis of People's Willingness to Delay Claiming Social Security Benefits for a Lump Sum (PDF)

"[The authors] show that people would voluntarily claim about half a year later if the lump sum were paid for claiming any time after the Early Retirement Age, and about two-thirds of a year later if the lump sum were paid only for those claiming after their Full Retirement Age. Overall, people will work one-third to one-half of the additional months, compared to the status quo. Those who would currently claim at the youngest ages are likely to be most responsive to the offer of a lump sum benefit." [Working paper no. 2014-308]

Chicago Teacher Pension Fund Overpaid 234 Retirees, Wants Its Money Back

"[T]he pension fund's administrators miscalculated benefits for the 234 retirees and mistakenly gave them lump-sum payments ranging from $566 to $217,185 as back pay between 2012 and 2014, when the error was discovered ... [R]etirees were contacted last year and told they had to return the money either by paying the amount back in full or in monthly increments through reduced pension payouts until the money was repaid."

American Benefits Council Comment on Proposed Amendments to Certain Rules Governing Money Market Funds (PDF)

2 pages. "Because of the importance of these funds to retirement plans, the Council commends the SEC's efforts to significantly strengthen the regulatory framework for money market funds to increase their resilience to economic stresses. The Council strongly supports strengthening these rules. The Council is concerned, however, about one proposal raised by the SEC. The proposed regulation requests comments on the possibility of eliminating the ability of money market funds to use the amortized cost method of valuation, resulting in a floating net asset value ('NAV') instead of a fixed $1.00 NAV. The Council believes that other changes proposed would result in less risk to the participant investing in the fund at the same time that a floating NAV would create an impression of more risk since, previously, 'breaking the buck' was a signthat the money market fund was significantly unstable."

Leave the Job Behind, and Maybe the Retirement Money

Excerpt: Summer is often a time of transition. Many employees switch jobs during the summer and many wonder: Should I let the money I've accumulated in my company retirement plan stay in the old plan?

IRS VCP Submission Kit: Failure to Make Timely Required Contributions to a Money Purchase or Target Benefit Plan

"This kit is for plan sponsors who failed to make timely required contributions to money purchase pension plans (MPP) or target benefit pension plans (defined contribution plans). The topics covered include: [1] Background; [2] Items to submit; [3] Completing Form 8950; [4] Completing Form 8951; [5] Completing Form 2848 or 8821; [6] Completing Form 14568; [7] Figuring your VCP fee; [8] Mailing your VCP submission; [9] What happens next; [10] FAQs; and [11] Additional resources."

Easing into Retirement

Excerpt: [Y]ou may have a great deal of leverage to name the conditions under which you want to continue working. You may find that your employer would be thrilled to have you stay on board as a part-time employee, even if it means continuing to pay for employee benefits like health insurance. By remaining open to creative solutions while keeping your resolve to get what you want from your final years of work, you may be able to negotiate an arrangement that will make both you and your employer happy.

Health Insurance Shoppers Look to Limited Networks to Save Money

"Consumers seem increasingly comfortable trading a greater choice of hospitals or doctors for a health plan that costs significantly less money.... This year, nearly half of the plans offered on public health care exchanges are so-called narrow network options, which sharply limit the medical providers whose services will be covered ... Furthermore, nearly a fifth are considered 'ultranarrow networks,' which offer even fewer choices. At the same time, more employers are also embracing the plans for their workers, largely as a way to lower health care costs."

Hurricane-Related Relief: It's About Time and Money

"The IRS, [DOL] and [PBGC] have all announced changes to their usual compliance and enforcement regimes that will allow employers and employees some wiggle room in the aftermath of the storms.... This [article] provides an outline of hurricane-related relief gathered in one place[.]"