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ERISA Industry Updates: Analysis of Current Trends and Future Projections

Gain insights on election impact, retirement reforms, and healthcare concerns in the ERISA industry. Explore key legislative issues and their implications on benefits and welfare programs. Stay informed on market dynamics and regulatory changes.

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ERISA Industry Updates: Analysis of Current Trends and Future Projections

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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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