Pension & Benefits NetNews – July 24, 2018

 

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Featured This Week

 

Employee Benefits Management News

 

  • ERISA preempts widow’s state law claims for supplemental life insurance benefits
  • CMS puts risk adjustment payments on hold awaiting resolution of litigation
  • Guidance addresses CMS actions related to court’s invalidation of the risk adjustment program
  • Survey reveals ‘managing high cost claimants’ is employers’ top health benefits strategy

Pension Plan Guide News

 

  • DOL appoints new members for 2018 ERISA Advisory Council
  • PBGC issues rates for overdue withdrawal liability payments for July-September 2018
  • PBGC issues disaster relief for Hawaii

 

Employee Benefits Management News

 

ERISA preempts widow’s state law claims for supplemental life insurance benefits

ERISA preempts state-law claims in a suit contending that an Applebee’s franchise failed to procure life insurance coverage for an employee despite withholding premiums from his pay —only for his widow to be denied an additional $160,000 in supplemental benefits after his death. For details, see ¶2117D.

        (Read Intelliconnect) »

CMS puts risk adjustment payments on hold awaiting resolution of litigation

A ruling issued by the U.S District Court for the District of New Mexico invalidating CMS’ use of the statewide average premium in the risk adjustment transfer formula established under Sec. 1343 of the Patient Protection and Affordable Care Act (ACA) for the 2014 to 2018 benefit years, prevents CMS from making further collections or payments under the risk adjustment program, including amounts for the 2017 benefit year until the litigation is resolved. For more information, see ¶2117G.

        (Read Intelliconnect) »

Guidance addresses CMS actions related to court’s invalidation of the risk adjustment program

CMS’ Center for Consumer Information & Insurance Oversight (CCIIO) has issued guidance to address the implications of a ruling issued by the U.S District Court for the District of New Mexico’s on February 28, 2018, that prevents CMS from making further collections or payments under the risk adjustment program, including amounts for the 2017 benefit year, until the litigation is resolved. For more information, see ¶2117J.

        (Read Intelliconnect) »

Survey reveals ‘managing high cost claimants’ is employers’ top health benefits strategy

“Managing and monitoring high cost claimants” is the top health benefits strategy that U.S. employers will be focusing on for the next five years, according to a recent analysis of Mercer’s National Survey of Employer-Sponsored Health Plans, 2017. For more information see ¶2117L.

        (Read Intelliconnect) »

Pension Plan Guide News

 

DOL appoints new members for 2018 ERISA Advisory Council

The Department of Labor has announced the appointment of five new members to the 2018 Advisory Council on Employee Welfare and Pension Benefit Plans, also known as the ERISA Advisory Council. The 15-member council provides advice on policies and regulations affecting employee benefit plans governed by ERISA. Members serve for staggered three-year terms. The newly appointed members and the expertise they represent are: David J. Kritz, Employers; Linda M. Kerschner, Corporate trust; David Blanchett, General public; Jason Bortz, Investment management; Bridget O’Connor, Employee organizations. The DOL also announced the incoming chair and vice chair of the council. Current members, Cynthia Levering and Srinivas Dharam Reddy will serve as the chair and vice chair, respectively, of the 2018 Council. For more information, see ¶159a.

        (Read Intelliconnect) »

PBGC issues rates for overdue withdrawal liability payments for July-September 2018

The PBGC has announced that the rate of interest to be charged by multiemployer plans on withdrawal liability payments that are overdue or in default, or to be credited by such plans on overpayments of withdrawal liability, is 5.00% for the period from July 1, 2018 to September 30, 2018, which is an increase from the previous quarter. For more information, see ¶158x.

        (Read Intelliconnect) »

PBGC issues disaster relief for Hawaii

The Pension Benefit Guaranty Corporation (“PBGC”) is waiving certain penalties and extending certain deadlines in response to volcanic eruptions and earthquakes that began on May 3, 2018, in Hawaii. For more information, see ¶158z.

        (Read Intelliconnect) »

 

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