Chicago ChapterAnnual Employee Benefits Legislative Update
December 2, 2015
Chicago / West Suburban ChapterAnnual Legislative Update
December 3, 2015
Phoenix ChapterWEB Charity Luncheon
December 9, 2015
WEB Chapters Help Benefits Professionals Face the ACA Challenge
WEB Chapters sponsor both educational and networking events, generally every month. These events offer WEB members and nonmembers the opportunity to stay up to date on the latest trends, issues and solutions for managing benefits. What you learn at these events from the subject matter experts, including government officials, plan sponsors, benefits managers, attorneys and consultants, will help you in your job and career.
Among the challenges facing benefits professionals this year is how the Affordable Care Act will change benefits design, management and participant communications. Monitor the Chapter Events menu for more information on these and other activities sponsored by your local Chapter.
Featured Benefits Resources
WEB members can access benefits resources submitted by legal experts and others. Recent postings include:
DOL Proposes Safe Harbor and Issues Interpretive Bulletin on State-Based Savings Programs
On November 16, 2015, the Department of Labor (DOL) proposed a regulation establishing a safe harbor for certain state-based savings programs (SSPs) established pursuant to state payroll deduction programs so that these SSPs are not considered pension plans under the Employee Retirement Income Security Act of 1974 (ERISA). To date, California, Illinois and Oregon have adopted SSPs. The intent of the safe harbor is to reduce the risk of the state laws establishing SSPs being preempted by ERISA if and when they are challenged in court.
ACA Final Rules Expand Claims Procedure Rules and More
The Departments of Labor, Health and Human Services, and Treasury have issued final regulations addressing several key requirements for group health plans and insurers added under the Affordable Care Act (ACA), including preexisting condition exclusions, lifetime and annual dollar limits, coverage rescissions, coverage of dependents to age 26, internal claims and appeals, external review and more.
Use of Prudent Process by ESOP Fiduciaries Satisfies Duty of Prudence: Sixth Circuit
In Pfeil, et al. v. State Street Bank & Trust Co., the US Court of Appeals for the Sixth Circuit held that a fiduciary of an employee stock ownership plan's (ESOP) investment decisions are prudent under the Employee Retirement Income Security Act of 1974 (ERISA) where the fiduciary employed a prudent process for determining not to sell GM stock.