|
|
|
|||||
Archive:
| |||||
"Until now, there have been legal implications that discouraged employers from offering investment advice through their plan administrators." Under the new law, beginning in 2007, plan sponsors will be able to offer fund-specific investment advice to their plan participants through their retirement plan provider or other fiduciary adviser. Such fund-specific advice may be made available using a computer model that is appropriate for retirement investing and is certified and audited by an... (PR Newswire)
Picking the right plan Aug 10, 2006
Allowing a plan administrator to offer advice poses a potential conflict of interest, say many consumer advocates and independent financial planners, who stood to gain business had plan administrators been barred from providing advice ... That's why federal pension law bans plan administrators from offering such guidance ... Some plan administrators, however, say the legislation will make companies more comfortable providing advice options already available to them. (Newsday -- Business)
Options scandal grew out of 1990s strategy Jul 30, 2006
Professional advisers were giving advice that may not have been very good and stock plan administrators made mistakes. " Bottano said the software commonly used in the 1990s to administer options grants made it easy to change records, facilitating backdating. "You could make an edit, the program didn't ask for any verification," he said. "It was more a tool than an auditing mechanism. (San Francisco Chronicle -- Business)
Drug plan serves seniors poorly Jul 12, 2006
Now the Government Accountability Office has released a report demonstrating that Medicare prescription drug clients are being poorly served by their plan administrators. The GAO had investigators make 900 calls to 10 of the largest drug plan sponsors and found they received complete and accurate answers to their questions only about a third of the time. (Carlisle Sentinel, PA)
HealthNow acquires benefits company Jun 9, 2006
HealthNow New York has agreed to buy one of the nation's largest privately owned third-party health plan administrators in the first big expansion of its business nationwide. The purchase of King of Prussia, Pa. (Buffalo News)
Data too easily misplaced Jun 4, 2006
That includes federal, state and local government, the folks who hold notes on your house and car, your health and pension plan administrators, the various companies who offer you charge accounts, and so on. Under federal law, the three major credit information bureaus are required to provide individuals with one free credit report upon request. (Carlisle Sentinel, PA)
Online Traders Help Brokerages Ride The Crest May 20, 2006
It also unveiled the optionsXpress Health Savings Account (HSA) brokerage platform, which lets plan administrators trade stocks with health savings investments. The online brokerage has grown earnings by 13% to 122% the past four quarters while upping sales 19% to 73. (Investors Business Daily)
Money matters: Losses in retirement funds rarely deductible May 8, 2006
The problem is that the 401(k) plan administrators were changed several times, and when I call the current plan administrator, they apparently don't have the information that goes that far back. I called the IRS and could not get a straight answer. (Sacramento Bee -- Business)
Assured Pharmacy CEO's Letter to Shareholders May 6, 2006
Because we see this as a synergistic business opportunity, which is likely to have higher margins than our core business, we have established a wholly owned subsidiary, Assured Pharmacy Plus, Corp., to manage this business, and we are evaluating the option of marketing our services to other third party health plan administrators. We have converted debt into additional equity of our joint venture entity, Assured Pharmacies Northwest, Inc., increasing our ownership percentage to 94. (PR Newswire)
In tax trouble? He's a good man to call May 4, 2006
Angelo Roncallo, and Benefit Plan Administrators executive Michael Agoglia in the Nassau insurance scandal in the late 1990s. He also settled tax charges against controversial Suffolk developer Robert Toussie on the condition that Toussie file back tax returns. (Newsday)
Lear Corporation Retirement Plan Investigated -- Employees May have Right to Recover Money According to Kahn Gauthier Swick -- LEA Apr 22, 2006
Lear Corporation and its ERISA Plan administrators may have violated the law and breached important duties of trust and prudence owed to Plan participants. Lear employees' 401(k) accounts may have been weighted too heavily with Lear stock. (Primezone Releases)
Medicare Plan D draws both praise and criticism Feb 7, 2006
Plan administrators said that many of the problems involved patients enrolled in both Medicare and Medicaid ("dual-eligibles"), or those who signed up for Part D near the end of the enrollment period. Many of the problems stemmed from computer glitches that have since been addressed. (Herald Sun)
Insurers Work to Aid Seniors on Medicare Jan 19, 2006
Mark McClellan, administrator for the federal agency, also told insurers and drug plan administrators to establish a quick process for pharmacists to override computer commands that erroneously deny prescription coverage. "This should ensure that beneficiaries receive the drugs they are entitled to, that the burden on pharmacists is reduced and that pharmacists can expedite claims processing at the plan," he said. (ABC News - Wire)
Flexible accounts trigger year-end rush Jan 1, 2006
But plan administrators said few people actually lose their money at the end of the year because they start getting reminders in early fall to spend any remaining balance ... But some plan administrators said employers have not rapidly embraced the new deadline option. (San Diego Union-Tribune)
Back to Employment News
©1998-2008 SurfWax, Inc.
All rights reserved. Patents pending.
Copyright SurfWax, Inc. 2008 |