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The ERISA Industry Committee

The ERISA Industry Committee. Phoenix WP&BC Lunch Washington Update November 15, 2012. Scott J. Macey President & CEO The ERISA Industry Committee. Agenda. Background Election Retirement Health Reform Other Health and Welfare Litigation Long-Term Outlook. Background. Election

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The ERISA Industry Committee

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  1. The ERISA Industry Committee Phoenix WP&BC Lunch Washington Update November 15, 2012 • Scott J. Macey • President & CEO • The ERISA Industry Committee

  2. Agenda • Background • Election • Retirement • Health Reform • Other Health and Welfare • Litigation • Long-Term Outlook

  3. Background • Election • Sequester/Fiscal Cliff/Tax Rates • Economy/Jobs • Deficit • Tax Reform • PPACA Uncertainty • S.S./Medicare/Medicaid • Toxic Political Environment

  4. Election • Status Quo Election Results • Impact on Governing? • Wide Partisan Divide • Will Parties Play to Their Extremes • Competition for Federal Revenue

  5. Election-Possible Outcomes • Lame Duck • Grand Bargain • Short Delay • Fiscal/Tax Cliff • New Congress • More of the same or governing coalition?

  6. Elections Matter: Benefits • Lame Duck Session • PPACA • Social Security/Medicare • Posture/Position of Regulations • Definition of Fiduciary • Pension Funding • DOL Litigation • Benefit Legislation

  7. Benefit Legislation • Health Coverage Exclusion • 415 Limits, etc. • Disclosures/Communications • Pension Reform • Health Reform • S.S./Medicare

  8. Retirement-Pension • MAP-21 • Funding Stabilization (Phased Out) • PBGC • 420 Transfers • Hybrid Plan Regulations/Issues • Market Rate Returns • Transition/Anti-cutback • Pension Equity Plans • Pension Settlements • Harkin Retirement Proposal

  9. Retirement-401(k) • 401(k) Fees/Disclosures • Who/What/How • Will it Make a Difference • Brokerage Windows • Lifetime Income Options • Target Date Funds

  10. Health Reform • Supreme Court • Mandate • Medicaid • Contraceptive Coverage • Shared Responsibility “Penalties” • Full-time Employees • “Substantially All” • Coverage of Dependents • Affordability • Minimum Essential Coverage

  11. Health Reform (cont.) • Uniform Benefit Summaries • W-2 Reporting • Reinsurance Assessments • Exchanges - Tax Credits

  12. Other Health and Welfare • Wellness • Exchanges • Mental Health Parity • GINA re: Spouses

  13. Litigation • Xerox Remedies Case • U.S. Air Subrogation • Mozingo Forum Selection Clauses • DOMA Cases • Tussey v. ABB Fiduciary Responsibility • Michigan Health Claims Tax • ESOP Litigation • Severance Pay FICA Tax • PPACA

  14. Long-Term Outlook • Tax Reform/Deficit Reduction • Retirement Planning Shortfall • Healthcare Costs/Coverage • Pension Plan Contraction • 401(k) Deficiencies • S.S./Medicare • Employment Outlook

  15. Conclusion Questions? smacey@eric.org (202) 789-1400

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