Pension & Benefits NetNews – June 24, 2014

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Featured This Week

Employee Benefits Management News

  • Employee choice transition delayed in 18 states with a federally-facilitated SHOP
  • Denial of benefits for intoxicated operation of boat not abuse of discretion; exclusion term “vehicle” not ambiguous, Fifth Circuit rules
  • Many benefits of employees taking that summer vacation, HR professionals tell SHRM
  • Two-thirds of employers not very satisfied with employee participation in voluntary benefits, MetLife survey finds

Pension Plan Guide News

  • Supreme Court holds that inherited IRAs do not qualify for bankruptcy exemption
  • Employer group ordered to make restitution to employees for unremitted contributions owed to 401(k) plan
  • Judge orders employers to restore more than $50,000 to 401(k) plans

Employee Benefits Management News

Employee choice transition delayed in 18 states with a federally-facilitated SHOP

Small businesses in 18 states will have to wait until 2016 to participate in the employee choice in the small business health options program (SHOP), as only 14 states with federally-facilitated SHOPs will have employee choice available to small businesses in 2015, which was the original timeline. For details, see ¶2077Y

(Read Intelliconnect) »

Denial of benefits for intoxicated operation of boat not abuse of discretion; exclusion term “vehicle” not ambiguous, Fifth Circuit rules

Application of intoxication exclusions in two employer-sponsored accidental death and dismemberment insurance policies to bar coverage was not an abuse of discretion, the Fifth Circuit ruled. For details, see ¶2077Z.

(Read Intelliconnect) »

Many benefits of employees taking that summer vacation, HR professionals tell SHRM

According to the SHRM/U.S. Travel Association: Vacation’s Impact on the Workplace survey, many employees do not use all of their vacation days, leaving an average of three vacation days unused each year. For more information, see ¶2078A.

(Read Intelliconnect) »

Two-thirds of employers not very satisfied with employee participation in voluntary benefits, MetLife survey finds

Despite employee benefit satisfaction reaching a record-high, 50%, in 2013, only 36% of employers are very satisfied with employee participation in voluntary benefits, according to findings released from MetLife’s 12th Annual U.S. Employee Benefit Trends Study (EBTS). For more information, see ¶2078B.

(Read Intelliconnect) »

Pension Plan Guide News

Supreme Court holds that inherited IRAs do not qualify for bankruptcy exemption

The U.S. Supreme Court held that a debtors inherited IRA does not qualify the bankruptcy exemption provided in section 522(b)(3)(C) of the U.S. Bankruptcy Code. For more information, see ¶24,015U.

(Read Intelliconnect) »

Employer group ordered to make restitution to employees for unremitted contributions owed to 401(k) plan

Under a consent judgment, an employer group was ordered to make restitution to 401(k) plan participants for unremitted and outstanding employer and employee contributions owed to the plan. For more information, see ¶128Q.

(Read Intelliconnect) »

Judge orders employers to restore more than $50,000 to 401(k) plans

A federal district court judge has ordered Lakes Area Advertiser Inc. and A.D.S. Delivery Service Inc. to restore more than $50,000 to 401(k) plans in Antioch, Ill. For more information, see ¶128S.

(Read Intelliconnect) »