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IRS on March 27 released a series of changes to its Employee Plans Compliance Resolution System that it said would improve the correction programs. Among the modifications to Revenue Procedure 2013-12 announced are new options for correction methods to recoup participant overpayments and lower compliance fees for participant plan loan errors. The 17-page Rev. Proc. […]
Remember the old Eveready® battery commercial with Robert Conrad in a muscle shirt playing the tough guy? He had an Eveready battery sitting on his shoulder while he muttered the line, “I dare you to knock this off.” I’m not sure why he was daring anyone to knock the battery off his shoulder or what […]
The U.S. Supreme Court on March 25 vacated and remanded an appeals court ruling that the Pregnancy Discrimination Act does not require employers to accommodate pregnant employees. In Young v. UPS, the 4th Circuit held that UPS did not violate the PDA by limiting light-duty accommodations to employees: (1) injured on the job; (2) disabled as […]
Five years ago, in March 2010, the Affordable Care Act was signed into law by President Obama to resolve problems in the U.S. health system, including: the high number of uninsured Americans; Americans unable to get coverage due to pre-existing conditions; the high cost of care; and suboptimal care as a result of poor incentives […]
Tremendous cost-cutting and patient care improvements await insurers and plans that can leverage the recent gains of computing to improve patient self-management of care. The challenge is how to tap the big pools of data, and get “actionable” personalized results out to plan members so they can choose better, cheaper care and manage this care […]
A total rewards framework is a comprehensive way of looking at how employers pay their employees. It is now finding its way into the thinking of compensation and human resources professionals at more and more companies.
March is Women’s History Month. Let’s face it, the business world has been dominated by men for too long. Episodes of Mad Men come to mind, where just 50 years ago the majority of women served as assistants or secretaries. Sure, we’ve made progress, but has it been fast enough?
ERISA stands for the Employee Retirement Income Security Act of 1974. In short, this is the federal law that creates standards for retirement, health, and pension plans. Even though such plans are typically set up privately, employers that opt to offer them have an obligation to meet the requirements under ERISA when implementing their plans. […]
Even if those administering your plan are familiar with the ERISA notice and disclosure requirements, it’s worth remembering the importance of notification during the series of benefits transfers that can occur from corporate takeovers. Not doing so, even if the accrued benefits are shifted to the new company, can leave participants unaware — and possibly […]
Simply paying an aggrieved plan participant for unpaid benefits due was enough to make him whole under ERISA, so no further money damages were warranted as a form of equitable relief, a federal appeals court has ruled. With this conclusion, a majority of the full en banc 6th U.S. Circuit Court of Appeals overturned an earlier ruling […]