Employers are facing more uncertainty in the wake of a letter from the Equal Employment Opportunity Commission warning them that requiring a high school diploma from a job applicant might violate the Americans with Disabilities Act.

Hopefully someone will see wake up and smell the coffee before this goes to far.  Not hiring someone because they did not graduate high school could be an ADA violation?  Isn’t the  minimum adult education generally acceptable in this country a REASONABLE REQUIREMENT?  –  Reeve By Dave Boyer, NY Times, 1/1/2012 Employers are facing more uncertainty in the wake of a letter …

Update on Retirement Plan Fee Disclosure Rules

From Sungard- The DOL originally issued the service provider fee disclosure regulations as interim final regulations. That meant they would go into effect without further action, but the DOL was still working on them. The preamble to the regulations announced one of the issues that might change: The Department is considering adding a requirement that covered service providers furnish a …

Beginning of year is a great time to review your beneficaries!

WHAT BENEFICIARIES NEED TO KNOW  What do you do when an account owner passes away?  If your loved ones have invested, saved or insured themselves to any degree, you may be named as a beneficiary to one or more of their accounts, policies or assets in the event of their deaths. While we all hope “that day” never comes, we …

Will mini-Med plans survive Health Care Reform?

              Volume 34 | Issue 102 | December 23, 2011, FYI, Buck Consultants HHS Issues New Rules Regarding Medical Loss Ratio Requirements HHS issued both final regulations and interim final regulations regarding the application of the medical loss ratio (MLR) requirements under health care reform. The MLR provision requires issuers to provide rebates to …

Emblem for-profit status back on the table?

Bloomberg Predicts Fair Deal if Health Insurer Gets For-Profit Status By THOMAS KAPLAN Published: December 23, 2011 Mayor Michael R. Bloomberg said Friday that he expected an agreement would be reached to satisfy the city’s concerns about a plan backed by Gov. Andrew M. Cuomo to allow a major nonprofit insurer to be converted into a for-profit company. The conversion …

10 fee disclosure facts every plan sponsor should know

BY CHRIS CAROSA December 16, 2011 Christmas may be upon us but this upcoming Easter might be the more important season for 401(k) plan sponsors and fiduciaries – assuming certain vested interests have their way again, but I get ahead of myself. As of April 1, 2012, the Department of Labor’s new service provider Fee Disclosure Rule becomes effective. Originally published …

Preliminary settlement reached in high-profile 401(k) fee lawsuit

Fiduciaries would have to remove retail funds from a 401(k) plan’s investment lineup, under a proposed settlement of the Braden v. Wal-Mart excessive fee litigation. As preliminarily approved Dec. 5 by a federal court in Missouri, the settlement also calls for a $13.5 million cash payment to defray legal fees and plan expenses. This lawsuit contrasts with other recent appellate …

Congress Fails to Extend Transit Subsidy; Employees Face Additional Taxable Income in 2012

 12.21.11By Richard J. Birmingham<!– –> <!–<! WOSPortlet.setTopic( "”, “” ); // –>–><!– –> Under the American Recovery and Reinvestment Act (ARRA), the monthly income tax exclusion for employer-provided transit benefits and vanpooling benefits was $230, effective from March 2009 through December 2010. The Tax Relief and Job Creation Act of 2010 extended this benefit through December 2011. With the failure …

“Free” Health Care is Often Not Free

This is a great article on some of the myths and mistakes in health insurance… Reeve Providers, Insurers Find Ways to Pass on Costs BY WENDY EBNER DECEMBER 22, 2011  The health insurance industry is still weighing the benefits of a new federal requirement that prevents doctors from billing patients or charging a co-pay for recommended preventive care. On the one …

401(k) plan participation could fall victim to proposed health care affordability test

Another example of why Congress shouldn’t make laws when they have no idea of the practical applications of things… Reeve December 15, 2011 – 1:34pm, by Jerry Geisel, Business Insurance  WASHINGTON—Without modification, a proposed Internal Revenue Service health care reform law affordability test could encourage some employers to drop programs intended to encourage employee participation in 401(k) plans, a benefits …