During the first quarter of 2009, governments scrambled to mitigate the impact of the economic crisis on employees and employers.
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Alison Borland, Hewitt's Retirement Strategy Leader, testified before a House subcommittee on the need for comprehensive fee transparency in 401(k) plans.
The Centers for Medicare and Medicaid Services (CMS) announced only a slight increase in reimbursements to Medicare Advantage plans for 2010, which could have a significant impact on employers' retiree medical plans.
The new COBRA provisions under the American Recovery and Reinvestment Act of 2009 have resulted in many questions from employers. Hewitt's resources can help employers navigate the new COBRA premium assistance available to employees.
On March 31, 2009, the Internal Revenue Service (IRS) issued special guidance providing potentially material favorable changes in funding results for 2008 and/or 2009. Due to the timing of the guidance, quick action may be needed.
The IRS has issued guidance and interim rules regarding asset smoothing for defined benefit plans under the Worker, Retiree, and Employer Recovery Act of 2008.
Hewitt submitted comments to the Centers for Medicare & Medicaid Services (CMS) on March 13, 2009 relating to the application of the "negotiated price" reporting requirement for employers that apply for the Medicare Part D Retiree Drug Subsidy (RDS).
Hewitt has assembled a summary of the major legislation affecting employee benefits since ERISA was enacted in 1974.
Jim Winkler, Hewitt's Health Management Consulting Practice Leader, testified before a House subcommittee on March 10, 2009.
President Obama delivered his first address to a joint session of Congress and released his FY 2010 Budget Proposal.
On February 17, 2009, President Obama signed into law the American Recovery and Reinvestment Act of 2009 (ARRA) (P.L. 111-5), which contains a number of provisions that affect employers.
The Commonwealth of Massachusetts has made several changes to the fair share contribution filing.
The Centers for Medicare and Medicaid Services (CMS) recently updated Medicare Part D Model Disclosure Notices.
On February 4, 2009, President Obama signed the Children's Health Insurance Program Reauthorization Act of 2009 (CHIPRA) (H.R. 2) into law.
On January 29, 2009, President Obama signed into law the Lilly Ledbetter Fair Pay Act of 2009, which allows employees to allege that their employers made discriminatory compensation decisions or practices over an extended period of time.
