Our View

NextGen Health Care Delivery: Exploring Telemedicine and Transparency

Written By Nancy Pokorny

On April 19, 2013, nine employers gathered with Findley Davies to hear from innovative health care companies HealthSpot and Castlight Health to learn how their approaches to telemedicine and cost transparency are changing health care as we know it. What was different about this NextGen Health Care Delivery discussion was the make-up of the audience.

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Unexpected Shocks Leave Retirees Without Adequate Income

Written By Mark Ohnsted

Last winter I was watching my nephew run across the carpet and his response to a static shock he received. There was of course pain and crying as a result of the static charge leaving his body. He immediately ran to his mother with the probable expectation that she would make the pain go away. As my sister tried to explain to a four year old the physics behind static electricity, I chuckled to myself not so much at the possibility that my sister may have thought she had a young Benjamin Franklin sitting on her lap, but that he would repeat this event for the remainder of his life – metaphorically speaking of course.

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Delivering Executive Compensation in Tax-Exempt Organizations

Written By Marc Stockwell

The tax-exempt sector represents a diverse mix of service-based organizations consisting of health care organizations, charitable/human services organizations, private foundations, trade associations, and rural cooperatives. These organizations compete for the best leadership talent by offering a unique and compelling value proposition that includes a balance of mission served, performance challenges, engagement of diverse stakeholders, and competitive compensation.

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Is it Time to Update Your Pension Plan's Lump Sum Threshold?

Written By Blaine Brickhouse

In general, defined benefit pension plans must provide benefits in the form of a joint and survivor annuity unless both the participant and the participant's spouse agree, in writing, to another form of payment. An exception to this requirement, if provided by the plan, is for lump sums below $5,000.

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Distributions After Normal Retirement Age in Defined Benefit Plans – Are You Getting It Right?

Written By Lisa Gelon, QKA

With many retirement nest eggs still recovering from the 2008 economic downturn and it's effect on 401(k) and other retirement savings, those who thought they were close to retirement have found themselves working longer and later in life than they had originally planned. Employers with a defined benefit plan may have more employees working beyond their plan's normal retirement age.

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The Fallacy in Terminated Vested Buyouts and Annuity Purchases

Written By Matthew Klein, FSA, EA, MAAA

There has been a lot of discussion over the past year about terminated vested lump sum buy-outs and annuity purchases. While annuity purchases may make sense in some contexts, they are not the slam dunk decision that some outlets have made them out to be.

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Weighing in on Lump Sum Options for Terminated Vested Employees

Written By Michael Coffey

Traditional defined benefit plans with service multipliers have long been used to incentivize employees to build careers at one employer. However, over the past twenty years benefit portability has been a growing force in attracting talent. Today's workforce stays at one job on average of 4.4 years according to the Bureau of Labor Statistics and data shows that the younger workforce is trending at an even quicker transition.

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Pension Plan In-Service Distributions - A "New" Tool to Encourage Continued Employment?

The individual circumstances of each organization lead to differing relationships with older employees. As older employees reach retirement age, many employers have retirement programs in place to provide a stable transition as these employees leave the workforce.

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Are Your Health Plans HIPAA Compliant?

Since its implementation in 1996, HIPAA has been amended by many sets of regulations. Most recently, HIPAA was amended by the section of the American Recovery and Reinvestment Act of 2009 entitled the Health Information Technology for Economic and Clinical Health Act ("HITECH"). HITECH amends certain HIPAA provisions requiring that all health plans subject to HIPAA ("Health Plans") make changes to their existing HIPAA policies and procedures. In addition, HITECH requires all Health Plans to implement more exhaustive HIPAA compliance measures than they were previously required to do under the prior HIPAA regulations.

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Managing Retirement Plan Expenses: A Fiduciary Responsibility

Written by Kyle Pifher

Plan sponsors have fiduciary responsibilities which include monitoring and controlling costs associated with a retirement plan, such as investment and administrative expenses. This issue of Management Briefing discusses some of the basics of 401(k) retirement plan expenses, their fiduciary implications for plan sponsors, and other fiduciary considerations.

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