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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 - PowerPoint PPT Presentation
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The ERISA Industry Committee
Phoenix WP&BC Lunch
Washington Update
November 15, 2012
Scott J. MaceyPresident & CEOThe ERISA Industry Committee
Agenda
Background Election Retirement Health Reform Other Health and Welfare Litigation Long-Term Outlook
Background
Election Sequester/Fiscal Cliff/Tax Rates Economy/Jobs Deficit Tax Reform PPACA Uncertainty S.S./Medicare/Medicaid Toxic Political Environment
Election
Status Quo Election Results Impact on Governing? Wide Partisan Divide Will Parties Play to Their Extremes Competition for Federal Revenue
Election-Possible Outcomes
Lame Duck– Grand Bargain– Short Delay– Fiscal/Tax Cliff
New Congress– More of the same or governing coalition?
Elections Matter: Benefits
Lame Duck Session PPACA Social Security/Medicare Posture/Position of Regulations Definition of Fiduciary Pension Funding DOL Litigation Benefit Legislation
Benefit Legislation
Health Coverage Exclusion 415 Limits, etc. Disclosures/Communications Pension Reform Health Reform S.S./Medicare
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
Retirement-401(k)
401(k) Fees/Disclosures Who/What/How Will it Make a Difference
Brokerage Windows Lifetime Income Options Target Date Funds
Health Reform Supreme Court
Mandate Medicaid
Contraceptive Coverage Shared Responsibility “Penalties”
Full-time Employees “Substantially All” Coverage of Dependents Affordability Minimum Essential Coverage
Health Reform (cont.)
Uniform Benefit Summaries W-2 Reporting Reinsurance Assessments Exchanges - Tax Credits
Other Health and Welfare
Wellness Exchanges Mental Health Parity GINA re: Spouses
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
Long-Term Outlook
Tax Reform/Deficit Reduction Retirement Planning Shortfall Healthcare Costs/Coverage Pension Plan Contraction 401(k) Deficiencies S.S./Medicare Employment Outlook