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2002-2004 Benefits Report

Benefits

     CBIA provide you with the latest information about employee benefits. Below you will find articles and links that will help you with your benefits policies and complying with federal and state laws. CBIA also offers a comprehensive Benefits Report which reports on medical insurance, pension, paid time off, life insurance, and long and short-term disability practices specific to Connecticut. For more information on employee benefits or our ability to research human resource issues particular to your company, please contact Phillip Montgomery at 860-244-1900 or via e-mail to montgomp@cbia.com.

• Summary of employee benefit laws, regulations, and notices issued since December 2006

• The U.S. Department of Labor (DOL) has issued final regulations and a class exemption that allow financial institutions to take responsibility for abandoned 401(k) plans and distribute the plans’ assets to covered workers and their families. The DOL has published a fact sheet explaining the new rules.

• The U.S. Department of Labor has released the Spanish-language version of its publication Su Dinero Y Futuro Economico: Una Guia Para Ahorrar: Savings Fitness: A Guide to Your Money and Your Future. Free copies of the publication are available by calling the Employee Benefits Administration toll free at 1-866-3272 or by visiting the agency’s Web site.

• Tax issues and civil union partners: Parties to a Connecticut civil union will be treated as “married” for state income tax purposes, but “unmarried” for federal tax purposes. CBIA offers a chart detailing how the new law affects employer and employee contributions for civil union partner health benefits.

• Final rules on Roth 401(k)s:  The Treasury Department and the IRS have issued final regulations on offering Roth 401(k)s to employees. The regulations took effect on Jan. 1, 2006 and make few changes to rules proposed in March of 2005.

• DOL issues ERISA guide: A new guide that should help employers and others meet their reporting and disclosure obligations under the Employee Retirement Income Security Act (ERISA) is now available on the Department of Labor’s (DOL) Web site at http://www.dol.gov/ebsa/pdf/rdguide.pdf.
• EEOC Publications concerning non-discrimination laws and benefits
• DOL publishes guide to completing Form 5500 The form is available to you in PDF format. PDF format allows you to view your form electronically on most computers. The freely available Adobe Acrobat reader is required to view and print PDF files.
• BenefitsForm 5500
• Overview of ERISA
• Information on Health Benefits Continuation (COBRA)
• DOL Claim Procedures)
• HSA guidance issued by IRS 
• Article: IRS says yes to contributing unused sick leave to 401(k)
• Article: Final rules issued on pension "blackout periods"
• Article: Interest in Retiree Medical Accounts (RMAs) growing
• Article: Domestic partners to be paid federal 'line of duty' benefits
• Article: New rule for Health Reimbursement Accounts
• Article: DOL explands electronic discolsure options for employee benefits plans
• Frequently Asked Questions:
  • COBRA
  • Benefits

© 2003 Connecticut Business & Industry Association (CBIA). All rights reserved.

The articles, forms and other materials available through this Web site are for informational purposes only. They are not intended as legal advice or as a solution to an individual problem. You are encouraged to consult with appropriate legal counsel prior to relying on the materials in whole or in part.