the erisa industry committee

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

Conclusion

Questions?

smacey@eric.org

(202) 789-1400