NEWARK, N.J.—Dun & Bradstreet Corp.’s cash balance pension plan does not discriminate against older employees, a federal judge has ruled. In rejecting age discrimination charges against Short Hills, N.J.-based business information provider Dun & Bradstreet, U.S. District Court Judge Stanley Chesler...
Jerry Geisel (mailto:jgeisel@BusinessInsurance.com)
CARSON CITY, Nev.—The Nevada Division of Insurance licensed a record 35 captive insurance companies last year as the state grew rapidly as a captive domicile. Last year’s 35 formations, bringing the total number of licensed captives to 96 at year-end 2006, compares with 20 captives licensed in...
WASHINGTON—Most employees would receive new tax breaks for group health care coverage under an initiative outlined by President Bush Tuesday in his State of the Union address, but the proposal raises many questions that have yet to be answered, experts say. Under the proposal, which would require...
HARRISBURG, Pa.—Borrowing heavily from a Massachusetts law, Pennsylvania Gov. Ed Rendell on Wednesday unveiled a health care reform proposal that would subsidize coverage for the lower-income uninsured, set up a new state purchasing pool for individuals and small employers, impose an assessment on...
RICHMOND, Va.—Affirming a lower court ruling, a federal appeals court ruled Wednesday that federal law pre-empts a Maryland statute requiring large employers to spend a specific amount of money on health insurance or face financial penalties. Maryland’s so-called Fair Share law, which state...
SALT LAKE CITY—The Utah Department of Insurance in 2006 licensed a record 16 captive insurance companies, doubling the state’s captive roster to 30. Of the new formations, 15 were single-parent and one was a risk retention group. Additionally, one captive that was licensed in 2005 voluntarily...
More U.S. employers are shortening the time that new employees must wait before they are eligible to participate in 401(k) plans, according to a new survey. The survey of 427 profit-sharing and 401(k) plans by the Profit Sharing/401k Council of America in Chicago found that 69% of plans allow...
MIAMI—Ryder System Inc. is phasing out its defined benefit pension plan and beefing up its 401(k) plan. Effective Jan. 1, 2008, new employees and employees whose combined age and service are less than 65 will receive retirement savings benefits exclusively through a 401(k) plan. Regardless of...
WASHINGTON—The U.S. Supreme Court is scheduled to discuss Friday whether or not it will review a federal appeals court ruling that IBM Corp.’s cash balance pension plan does not discriminate against older employees. The August 2006 decision by the 7th U.S. Circuit Court of Appeals overturned a...
SACRAMENTO, Calif.—All California residents would be required to have health insurance, while all but very small employers that do not offer coverage to their employees would have to pay a new tax and the state would subsidize premiums for the low-income insured under a universal health reform plan...
