An online, clickable version of this newsletter is available at: http://benefitslink.com/2004/2004_09_24_welfare.html
=========================================================== BenefitsLink Welfare Plans Newsletter (Plain Text Format) September 24, 2004 =========================================================== We thank and invite your attention to today's sponsor: NCEO =========================================================== Check out the publications by the NCEO in the BenefitsLink Bookstore! (Advert.) <URL:http://benefitslink.com/cgi/a_d.cgi?a_d=2004_09_24_welfare> http://benefitslink.com/cgi/a_d.cgi?a_d=2004_09_24_welfare (Click on above address, or copy and paste it into your web browser, to learn more.) The National Center for Employee Ownership (NCEO), a nonprofit membership and research organization that provides information on broad-based employee stock plans, now has over a dozen of its most popular publications available for purchase in the BenefitsLink bookstore. Topics range from employee stock ownership plans (ESOPs) to stock options to employee stock purchase plans (ESPPs). (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) ---------------------------------------------------------- Senate Committee Approves Funding for High-Risk Health Insurance Pools in States <URL:http://bcbshealthissues.com/proactive/newsroom/release.vtml?id=129809&PROACTIVE_ID=cecec6ceccc7cac7cdc5cecfcfcfc5cececbccc7cbcbcfccc8c5cf> http://bcbshealthissues.com/proactive/newsroom/release.vtml?id=129809&PROACTIVE_ID=cecec6ceccc7cac7cdc5cecfcfcfc5cececbccc7cbcbcfccc8c5cf Excerpt: "The Senate Health, Education, Labor and Pensions Committee on Wednesday approved a bill (S 2283) that would provide funding for grants to states to create health insurance pools for high-risk individuals, Congressional Quarterly reports. The bill would reauthorize $15 million in seed grants for FY 2004 and FY 2005 for states launching high-risk insurance pools." (BlueCross BlueShield Association) ---------------------------------------------------------- Mandated Mental Health Parity Extension Nears Approval in Congress <URL:http://www.businessinsurance.com/cgi-bin/news.pl?newsId=4439> http://www.businessinsurance.com/cgi-bin/news.pl?newsId=4439 Excerpt: "A soon-to-expire federal law requiring employers to offer limited parity for mental health care expenses in their health care plans would be extended by one year under tax legislation nearing final congressional approval." (Business Insurance) ---------------------------------------------------------- JEC Hearing on Health Insurance Examines Impact of More Options <URL:http://jec.senate.gov/index.cfm?FuseAction=Hearings.Hearing&Hearing_ID=81> http://jec.senate.gov/index.cfm?FuseAction=Hearings.Hearing&Hearing_ID=81 Excerpt: "Joint Economic Committee Chairman, Robert F. Bennett, held a hearing [September 22] on 'Expanding Consumer Choice and Addressing �Adverse Selection' Concerns in Health Insurance.' The hearing examined how employers and insurers can offer better choices to consumers.... Statements from Robert Bennett, Mark V. Pauly, James H. Cardon, Jeffrey M. Closs, and Linda J. Blumberg were recorded." (U.S. Congress, Joint Economic Committee) ---------------------------------------------------------- Mercer Statement Before ERISA Advisory Council on Form 5500 and Its Use by Health/Welfare Plans <URL:http://wrg.wmmercer.com/content_print.asp?article_id=20046794&ext=.DOC> http://wrg.wmmercer.com/content_print.asp?article_id=20046794&ext=.DOC Excerpt: "Mercer's Judy Bauserman and other benefits practitioners told a DOL ERISA Advisory Council working group that Form 5500 should be substantially revised to make it more user-friendly for health and welfare plan sponsors. 'The form appears to be designed for pension plans, and health and welfare plan sponsors ... must struggle to discern from pension-focused instructions what information the [DOL] is really seeking,' Bauserman said." (Mercer Human Resource Consulting) ---------------------------------------------------------- Employers Urge Treasury Department to Allow Flexible Spending Account Rollovers <URL:http://wrg.wmmercer.com/content_print.asp?article_id=20046800&ext=.DOC> http://wrg.wmmercer.com/content_print.asp?article_id=20046800&ext=.DOC Excerpt: "The National Business Group on Health (NBGH) has sent a letter urging the Treasury Department to modify the 'use it or lose it' rule to allow an annual rollover of up to $500 of unused flexible spending account (FSA) funds." (Mercer Human Resource Consulting) ---------------------------------------------------------- Summary Information: H.R. 1057, the Adoption Tax Relief Guarantee Act (Updated September 23, 2004) <URL:http://www.gop.gov/Committeecentral/bills/hr1057.asp> http://www.gop.gov/Committeecentral/bills/hr1057.asp Excerpt: "The House of Representatives was expected to give final approval to legislation, H.R. 1057, on Thursday that would make permanent a provision, set to expire in 2010, in a 2001 law that allows employers to provide up to a $10,000 tax-free reimbursement to employees to cover adoption-related expenses." (GOP.gov) ---------------------------------------------------------- Opinion: Consumer-Driven Health Plans Popular Option Over Health Savings Accounts <URL:http://www.bizjournals.com/moneycenter/story.html?id=3271> http://www.bizjournals.com/moneycenter/story.html?id=3271 Excerpt: "Oct. 1 is decision day for many companies planning changes in employee health benefits. As employers look at numerous health-plan designs, consumer-driven health plans are among the most popular options this year. Health Savings Accounts, or HSAs, are making consumer-driven health care a more palatable option for employers and employees alike." (Business First of Columbus via bizjournals.com; one-time registration required) ---------------------------------------------------------- Opinion: Why Bush and Kerry are Wrong on Health Care <URL:http://knowledge.wharton.upenn.edu/article/1051.cfm> http://knowledge.wharton.upenn.edu/article/1051.cfm Excerpt: "Three Wharton health care experts doubt either candidate's plan could be enacted as proposed - or would lick all those problems if it were. The problems are so complex, and Americans' expectations of top quality affordable care are so deeply rooted, that it's far from clear there is any satisfactory solution for the near term." (Wharton School of the University of Pennsylvania) ========================================================== Links To Items on Executive Comp, Benefits In General ---------------------------------------------------------- US Airways to Ask Court to Cut Union Workers' Pay 23% <URL:http://www.nytimes.com/2004/09/24/business/24air.html?ex=1253678400&en=5c7bf979022bd535&ei=5090&partner=rssuserland> http://www.nytimes.com/2004/09/24/business/24air.html?ex=1253678400&en=5c7bf979022bd535&ei=5090&partner=rssuserland Excerpt: "US Airways plans to ask a bankrup.tcy court judge today to impose emergency pay cuts of 23 percent on its major unions, which have refused the company's demand for $800 million in contract concessions." (The New York Times; one-time registration required) ---------------------------------------------------------- What Clients Want and Expect from Their HR and Benefits Outsourcing Service Providers (PDF) <URL:http://www.mellon.com/hris/pdf/healthwealth_june04.pdf> http://www.mellon.com/hris/pdf/healthwealth_june04.pdf 1 page. Excerpt: "Outsourcing providers and users typically cite four key expectations from outsourcing engagements: shared technology, process excellence, scalability, and continuity. .... Shared Technology Investment ... is the most frequently mentioned and most obvious value-add in the HR and benefits space." (HRO Today via Mellon) ---------------------------------------------------------- Employee Benefit News-Genworth Financial's Small Business Benefits Survey's Comparison Feature <URL:http://www.benefitnews.com/esgsurvey/esgintro.cfm> http://www.benefitnews.com/esgsurvey/esgintro.cfm Excerpt: "We know how difficult it is for HR specialists in smaller companies to get comparison information on benefits. That's why Employee Benefit News, along with Genworth Financial's Employer Service Group, have created a benchmarking tool just for smaller employers--the EBN-Genworth Financial Survey. [T]he EBN-Genworth Financial Survey [provides] a way to compare their benefit package with those of other companies of comparable size, in the same industry and geographic area." (BenefitNews.com) ---------------------------------------------------------- Opinion: Goodbye, Pension; Goodbye, Health Insurance; Welfare Capitalism Is Dying <URL:http://slate.msn.com/id/2107108/> http://slate.msn.com/id/2107108/ Excerpt: "For some employees near the end of their careers, the golden years may be looking a little more like lead. .... The inability or refusal of companies to live up to promises and commitments made to workers seems to be largely a cyclical phenomenon, a symptom of temporarily sick industries (airlines) or of a company plagued by poor bets and bad management (Lucent). But it is also a sign of the troubling collapse of welfare capitalism." (Daniel Gross in Slate via MSN) ---------------------------------------------------------- Hewitt Federal Legislation Quick Guide [updated September 22, 2004] <URL:http://was4.hewitt.com/hewitt/resource/legislative_updates/united_states/qg_index.htm> http://was4.hewitt.com/hewitt/resource/legislative_updates/united_states/qg_index.htm Excerpt: "Hewitt's Federal Legislation Quick Guide provides short updates on federal legislation that is currently under active consideration by Congress or has recently been enacted into law regarding health and welfare benefit plans, retirement plans, and human resources and employment law." (Hewitt Associates) ---------------------------------------------------------- Tech Firms Renew Prod on Stock Options Expensing Bill <URL:http://www.usatoday.com/money/industries/technology/2004-09-21-options-lobbying_x.htm> http://www.usatoday.com/money/industries/technology/2004-09-21-options-lobbying_x.htm Excerpt: "High-tech firms renewed their push on the Senate Tuesday to block an accounting rule that would force them to count stock options against their profits. Tech executives and workers met with two dozen senators who haven't signed a bill that would block the proposed rule change by the Financial Accounting Standards Board." (AP via USA TODAY) ========================================================== Newly Posted Events Benefit From Fixed Income Transition Management Nationwide on September 29, 2004 presented by PLANSPONSOR <URL:http://benefitslink.com/events/detail.php?id=38774> http://benefitslink.com/events/detail.php?id=38774 COBRA Compliance for Group Health Plans in Washington on October 1, 2004 presented by Employee Benefits Institute of America Inc. (EBIA) <URL:http://benefitslink.com/events/detail.php?id=38770> http://benefitslink.com/events/detail.php?id=38770 ERISA Compliance for Health & Welfare Plans in Washington on September 30, 2004 presented by Employee Benefits Institute of America Inc. (EBIA) <URL:http://benefitslink.com/events/detail.php?id=38772> http://benefitslink.com/events/detail.php?id=38772 HIPAA Portability & Privacy in Washington on October 1, 2004 presented by Employee Benefits Institute of America Inc. (EBIA) <URL:http://benefitslink.com/events/detail.php?id=38771> http://benefitslink.com/events/detail.php?id=38771 National Business Coalition on Health's annual employer conference, "Employers Leading by Example: Partnerships for Health Care Value" in Georgia on November 14, 2004 presented by National Business Coalition on Health <URL:http://benefitslink.com/events/detail.php?id=38773> http://benefitslink.com/events/detail.php?id=38773 Plugged In - Now How Much Should You Pay? Nationwide on October 1, 2004 presented by PLANSPONSOR <URL:http://benefitslink.com/events/detail.php?id=38775> http://benefitslink.com/events/detail.php?id=38775 Post yours! http://benefitslink.com/events/eventmaint.php ========================================================== Newly Posted Press Releases PSCA Applauds Senate Action On Bipartisan Legislation Protecting Indian Tribal Government Retirement Plans (Profit Sharing/401(k) Council of America (PSCA)) http://benefitslink.com/pr/detail.php?id=38327 Disaster Relief Announcements (Pension Benefit Guaranty Corporation (PBGC)) http://benefitslink.com/pr/detail.php?id=38335 Newport E-Signatures Allow Retirement Plan Participants to Sign Documents Online (The Newport Group) http://benefitslink.com/pr/detail.php?id=38328 MassMutual Urges Federal Panel to Support Improved Retirement Plan Disclosure (MassMutual Retirement Services) http://benefitslink.com/pr/detail.php?id=38334 U. S. Labor Department Extends Annual Reports Deadline After Hurricane Frances Hits Florida (U.S. Department of Labor, Office of Public Affairs, Washington, D.C.) http://benefitslink.com/pr/detail.php?id=38330 U. S. Labor Department Extends Annual Reports Deadline After Hurricane Frances Hits North Carolina (U.S. Department of Labor, Office of Public Affairs, Washington, D.C.) http://benefitslink.com/pr/detail.php?id=38331 General Electric Settles SEC Action for Disclosure Failures in Connection with Former CEO's Benefits Under His Employment and Retirement Agreement (U.S. Securities and Exchange Commission) http://benefitslink.com/pr/detail.php?id=38333 Governor Ernie Fletcher Calls General Assembly into Special Session (Kentucky Governor Ernie Fletcher) http://benefitslink.com/pr/detail.php?id=38329 National Business Coalition On Health To Sponsor Annual Employer Conference (National Business Coalition on Health) http://benefitslink.com/pr/detail.php?id=38332 Post yours! http://benefitslink.com/pr/maint.php ========================================================== Newly Posted or Renewed Job Openings Pension Plan Administrator for South Florida TPA in FL http://benefitslink.com/modperl/show_a_job.cgi?database_id=H39343 Benefit Specialist for ProView in CA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40579 Account Executive-Chicago for Transamerica in IL http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40595 Account Executive for Transamerica in OH http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40596 Plan Administrator/Account Executive for Reed-Ramsey, Inc. in IL http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40599 Client Services Representative for LTSave, Inc. in MA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40601 Retirement Plan Enrollment/Education Specialist for QCI Asset Management, Inc. in NY http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40602 Relationship Manager for MassMutual Financial Group in AZ, GA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40603 Post yours! http://benefitslink.com/jobs/post_help_wanted.html =========================================================== Subscribe to the BenefitsLink Retirement Plans Newsletter, Too Sign-up form is at: <URL:http://benefitslink.com/newsletter/> http://benefitslink.com/newsletter =========================================================== Copyright 2004 BenefitsLink.com, Inc.; except that you can forward this email in full (if you also include this boilerplate part) or otherwise reprint this email in full (if you include this boilerplate part) without obtaining our permission. 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