Today’s Federal Register is here which includes the DOL’s proposed class exemption for the acquisition and sale of REIT shares by individual account plans sponsored by trust REITS.
Some very good articles have been posted at EBIA Weekly: this article on the recent Supreme Court case of Nevada Dept. of Human Resource v. Hibbs previously discussed in this blog and this article on another U.S. Supreme Court ERISA case of Black & Decker Disability Plan v. Nord also discussed here. The latter article emphasizes what plan administrators need to be reminded of (if they do not know it already), that is, that even though a plan administrator need not give deference to a treating physician’s opinion, a treating physician’s opinion cannot be ignored and must at least be considered in the decisionmaking process along with the other evidence provided by the claimant.
An action item has been pointed out in this wonderful article by Deloitte & Touche via Benefitslink: “ACTION NEEDED– Proposed Guidance on COBRA Notice Requirements Warns Administrators to Stop Using Old Model Notice Immediately, Update Description of COBRA Rights in SPDs.” (By the way, a new category called “Action Items” will be added under the “Browse By Topic” section to catalogue action items that benefits professionals must worry about.)
Speaking of worry, the Philadelphia Inquirer points out in an article yesterday that scientists have discovered a gene that is associated with worrying . . .(now I have an excuse for worrying) . . and that is why some people worry more than others.
Can you believe the pandemonium in Europe over France’s pension system as reported in the news by Reuters and other news sources? Is this what we’re in for in the U.S. sometime down the road if we don’t take care of the whole Social Security malady as discussed in this article at StarTribune.com by Mike Meyers: Will baby boomers see less of their retirement in coming years? Or the health care crisis as discussed in this article by Don McCanne, MD for the Journal of the American Board of Family Practice: Why Incremental Reforms Will Not Solve the Health Care Crisis. More things to worry about . . .
And there’s this very good article by Kris Frieswick at CFO.com which highlights the issues and concerns associated with ESOPs which are now under the post-Enron magnifying glass: “ESOPs: Split Personality: An ESOP is a retirement plan. No, it’s an ownership investment. Wait — it’s neither one.”