Posts Categorized: Retiree Benefits

Retiree Medical Liabilities

in Retiree Benefits

The accounting rules for valuing OPEB liabilities may be revised soon to take into account other promises that the employer has made to employees or in certain situations a course of prior conduct. For some companies, this may mean their overall liability is increased, while in other situations it may provide a decrease in liability.  It appears this change is being contemplated to arrive at a “truer” picture of OPEB liability.   See the article in the attached link for more information.  NAIC panel wrestles with retiree benefits accounting

EBSA Electronic Distribution Rules

in Health Benefits, Retiree Benefits, Welfare Benefits

Today, EBSA posted all of the public comments received with respect to electronic distribution of benefit plan information. There are many great comments in this listing, including Kilpatrick’s comments listed as Number 32.  Although DOL is still reviewing the comments, DOL is apparently focusing on other plan materials (such as 401k statements for example) that can be delivered electronically, rather than SPDs and SMMs.  It’s unclear whether this is because DOL already has decided to adopt separate rules depending on the type of document to be transmitted.  DOL has said that proposed regulations could be issued by the end of… Continue Reading

New ERRP Legislation Introduced

in Retiree Benefits

Senator John Kerry recently introduced legislation that would add an additional $5 Billion to ERRP. Based on the current Congress, I think this has a real uphill climb.