If this message looks garbled to you or if the headlines in this message don't connect you to Web pages when you click on them, please request the "plain text" version of this newsletter ("Welfare Plans Edition") by emailing your request to publisher Dave Baker
April 18, 2001
Today's sponsor: Reish Luftman McDaniel & Reicher (click)
No Relief from the Supreme Court on the ADEA and Retiree Health Plans
Excerpt: "Last August, in Erie County Retirees Assoc. v. County of Erie, Pennsylvania, the Third Circuit Court of Appeals held that the Age Discrimination in Employment Act (ADEA) applies to retirees and retiree health plans. As long as that ruling stands, employers in Pennsylvania, New Jersey, Delaware and the Virgin Islands who offer their over-65 retirees less coverage than their under-65 retirees may be violating the ADEA (unless their plan meets the safe harbor test)." (Watson Wyatt)
Commentary: Are Lawyers Running America?
(Originally published 7/17/2000.) Excerpt: "Their lawsuits are setting policy on guns, tobacco and now HMOs. Who elected them?" (Time.com)
CalPERS Members May Face Increased Drug, Office-visit Fees
Excerpt: "After trimming millions of dollars from its total health care bills by rejecting all initial bids from HMOs seeking to insure its 1.2 million members in 2002, the California Public Employees' Retirement System is now looking to save even more by raising the fees members pay for drugs and office visits." (Sacramento Bee)
CalPERS Health Premiums Set To Rise 6 Pct; Co-Pays Up Also
Excerpt: "A committee at CalPERS, the nation's largest pension fund, recommended a 2002 health benefits package Tuesday that includes eight managed care plans, a 6 percent increase in premiums and higher co-payments for members. CalPERS, which stands for the California Public Employees' Retirement System, provides retirement and health benefits to 1.1 million state government employees and dependents." (Reuters via Excite News)
A Hassle a Day Under Managed Care Keeps Docs Away From Patients
Excerpt: "Primary care doctors are being interrupted each day with 'managed-care hassles' that can eat up as much as 40 minutes or more--cutting into quality time with patients, according to a new survey.... 26 physicians [were asked] to keep diaries and fill out a questionnaires after seeing patients.... nearly one in four visits resulted in an interruption or 'hassle' due to managed-care red tape or inadequacies." (Reuters via Yahoo! News)
(Following items also appear in Retirement Plans Edition)
Spencer Survey of Benefits Managers Is Underway
Charles D. Spencer & Associates, Inc., continues to collect information for its 2001 Spencer survey of benefits managers and employee benefits departments. This 8th biennial survey requests information concerning compensation, organization, and functional responsibilities of corporate employee benefits departments. The information provided will be collated and published by Charles D. Spencer & Associates, Inc. All survey participants receive a copy of the published survey at no charge. (SpencerNet)
Unhappy Investors Sound Off At Sprint Annual Meeting, Question Executive Benefits
Excerpt: "The investment fund represented by Hitchcock sponsored a proposal requiring that shareholders give approval to any future severance agreements that exceed 200 percent of a senior executive's base salary. The proposal was defeated, but the preliminary count on Tuesday did show the measure garnering more than 33 percent approval." (Reuters via Excite News)
Cisco's Option Plan Opens Door For Others To Make Adjustments
Excerpt: "Cisco Systems' disclosure this week that it will grant new stock options to help compensate employees for options that are currently worthless is interesting for two reasons. One, it could mean that Cisco execs think their company's stock price has bottomed. Two, it could encourage other battered tech companies to reprice or supplement underwater options." (San Francisco Chronicle)
Some Suffer Tax Hangovers From Microsoft Option Spree
Excerpt: "Now that Microsoft's stock has fallen to about half its peak, Seattle is abuzz with other stories, those of Microsoft employees deep in debt and filing for bankruptcy." (New York Times; free registration required)
Newly Posted or Renewed Job Openings ( Post Yours! )
Newly Posted Conferences ( Post Yours! )
Subscribe to the Retirement Plans Edition, too (click)
Copyright 2001 BenefitsLink.com, Inc.
You may freely distribute this email newsletter in whole.
Click here to learn how your company can sponsor a future issue!
BenefitsLink is a trademark of BenefitsLink.com, Inc., published by Dave Baker with much help from Mary Hall and lots of friends.
To subscribe (free): visit https://benefitslink.com/newsletter - or the person desiring to subscribe can send an email to BLwelfare@add.mb00.net
We have an online archive of prior issues at
https://benefitslink.com/newsletters/
The BenefitsLink Newsletter -
Welfare Plans Edition
Welfare Plans Edition
April 18, 2001
Today's sponsor: Reish Luftman McDaniel & Reicher (click)
Have questions about ... qualification failures, when and how to correct, a plan's right to participate in EPCRS? You'll want The Plan Correction Answer Book. It's a comprehensive guide to the IRS remedial programs, written by attorneys Fred Reish and Bruce Ashton, of Reish Luftman McDaniel & Reicher. Click on the link to order!
No Relief from the Supreme Court on the ADEA and Retiree Health Plans
Excerpt: "Last August, in Erie County Retirees Assoc. v. County of Erie, Pennsylvania, the Third Circuit Court of Appeals held that the Age Discrimination in Employment Act (ADEA) applies to retirees and retiree health plans. As long as that ruling stands, employers in Pennsylvania, New Jersey, Delaware and the Virgin Islands who offer their over-65 retirees less coverage than their under-65 retirees may be violating the ADEA (unless their plan meets the safe harbor test)." (Watson Wyatt)
Commentary: Are Lawyers Running America?
(Originally published 7/17/2000.) Excerpt: "Their lawsuits are setting policy on guns, tobacco and now HMOs. Who elected them?" (Time.com)
CalPERS Members May Face Increased Drug, Office-visit Fees
Excerpt: "After trimming millions of dollars from its total health care bills by rejecting all initial bids from HMOs seeking to insure its 1.2 million members in 2002, the California Public Employees' Retirement System is now looking to save even more by raising the fees members pay for drugs and office visits." (Sacramento Bee)
CalPERS Health Premiums Set To Rise 6 Pct; Co-Pays Up Also
Excerpt: "A committee at CalPERS, the nation's largest pension fund, recommended a 2002 health benefits package Tuesday that includes eight managed care plans, a 6 percent increase in premiums and higher co-payments for members. CalPERS, which stands for the California Public Employees' Retirement System, provides retirement and health benefits to 1.1 million state government employees and dependents." (Reuters via Excite News)
A Hassle a Day Under Managed Care Keeps Docs Away From Patients
Excerpt: "Primary care doctors are being interrupted each day with 'managed-care hassles' that can eat up as much as 40 minutes or more--cutting into quality time with patients, according to a new survey.... 26 physicians [were asked] to keep diaries and fill out a questionnaires after seeing patients.... nearly one in four visits resulted in an interruption or 'hassle' due to managed-care red tape or inadequacies." (Reuters via Yahoo! News)
Spencer Survey of Benefits Managers Is Underway
Charles D. Spencer & Associates, Inc., continues to collect information for its 2001 Spencer survey of benefits managers and employee benefits departments. This 8th biennial survey requests information concerning compensation, organization, and functional responsibilities of corporate employee benefits departments. The information provided will be collated and published by Charles D. Spencer & Associates, Inc. All survey participants receive a copy of the published survey at no charge. (SpencerNet)
Unhappy Investors Sound Off At Sprint Annual Meeting, Question Executive Benefits
Excerpt: "The investment fund represented by Hitchcock sponsored a proposal requiring that shareholders give approval to any future severance agreements that exceed 200 percent of a senior executive's base salary. The proposal was defeated, but the preliminary count on Tuesday did show the measure garnering more than 33 percent approval." (Reuters via Excite News)
Cisco's Option Plan Opens Door For Others To Make Adjustments
Excerpt: "Cisco Systems' disclosure this week that it will grant new stock options to help compensate employees for options that are currently worthless is interesting for two reasons. One, it could mean that Cisco execs think their company's stock price has bottomed. Two, it could encourage other battered tech companies to reprice or supplement underwater options." (San Francisco Chronicle)
Some Suffer Tax Hangovers From Microsoft Option Spree
Excerpt: "Now that Microsoft's stock has fallen to about half its peak, Seattle is abuzz with other stories, those of Microsoft employees deep in debt and filing for bankruptcy." (New York Times; free registration required)
Newly Posted or Renewed Job Openings ( Post Yours! )
for Levi, Ray & Shoup, Inc. (IT Company)
in IL
in IL
for Lyondell Chemical Company
in TX
in TX
for Lyondell Chemical Company
in TX
in TX
for Union Bank of California
in CA
in CA
for Union Bank of California
in CA
in CA
for Transamerica Life Companies
in CA, IL
in CA, IL
for Transamerica Life Companies
in CA
in CA
Newly Posted Conferences ( Post Yours! )
in AZ
on May 24, 2001
presented by Western Pension & Benefits Conference, Phoenix Chapter
presented by Western Pension & Benefits Conference, Phoenix Chapter
in MI
on April 23, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in MI
on April 25, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in PA
on April 23, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in AL
on April 24, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in OH
on April 24, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in NE
on May 1, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in IL
on July 23, 2001
presented by IQPC
presented by IQPC
in AZ
on May 1, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in IN
on May 1, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in NY
on May 1, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in AZ
on May 15, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in IN
on May 8, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in NV
on May 30, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in KY
on May 22, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in FL
on May 22, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in IA
on May 22, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in IA
on May 15, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in VA
on May 8, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in MD
on May 15, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in NY
on May 22, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in NJ
on May 8, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
in NY
on June 12, 2001
presented by A.E. Roberts Company
presented by A.E. Roberts Company
Subscribe to the Retirement Plans Edition, too (click)
Copyright 2001 BenefitsLink.com, Inc.
You may freely distribute this email newsletter in whole.
Click here to learn how your company can sponsor a future issue!
BenefitsLink is a trademark of BenefitsLink.com, Inc., published by Dave Baker with much help from Mary Hall and lots of friends.
To subscribe (free): visit https://benefitslink.com/newsletter - or the person desiring to subscribe can send an email to BLwelfare@add.mb00.net
We have an online archive of prior issues at
https://benefitslink.com/newsletters/