1. The ERISA Industry Committee
Phoenix WP&BC Lunch
Washington Update
November 15, 2012
Scott J. Macey
President & CEO
The ERISA Industry Committee

2. Agenda Background Election Retirement Health Reform
Other Health and Welfare
Litigation
Long-Term Outlook 2

3. 3

4. Background Election Sequester/Fiscal Cliff/Tax Rates Economy/Jobs
Deficit
Tax Reform
PPACA Uncertainty
S.S./Medicare/Medicaid
Toxic Political Environment 4

5. Election Status Quo Election Results Impact on Governing?
Wide Partisan Divide
Will Parties Play to Their Extremes
Competition for Federal Revenue 5

6. Election-Possible Outcomes
Lame Duck
Grand Bargain
Short Delay
Fiscal/Tax Cliff
New Congress
More of the same or governing coalition? 6

7. 7

8. Elections Matter: Benefits
Lame Duck Session
PPACA
Social Security/Medicare
Posture/Position of Regulations
Definition of Fiduciary
Pension Funding
DOL Litigation
Benefit Legislation 8

9. 9

10. Benefit Legislation Health Coverage Exclusion 415 Limits, etc.
Disclosures/Communications
Pension Reform
Health Reform
S.S./Medicare 10

11. 11

12. 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 12

13. Retirement-401(k) 401(k) Fees/Disclosures Brokerage Windows
Who/What/How
Will it Make a Difference
Brokerage Windows
Lifetime Income Options
Target Date Funds 13

14. 14

15. Health Reform Supreme Court Contraceptive Coverage
Mandate
Medicaid
Contraceptive Coverage
Shared Responsibility “Penalties”
Full-time Employees
“Substantially All”
Coverage of Dependents
Affordability
Minimum Essential Coverage 15

16. Health Reform (cont.) Uniform Benefit Summaries W-2 Reporting
Reinsurance Assessments
Exchanges - Tax Credits 16

17. Other Health and Welfare
Wellness
Exchanges
Mental Health Parity
GINA re: Spouses 17

18. 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 18

19. Long-Term Outlook Tax Reform/Deficit Reduction
Retirement Planning Shortfall
Healthcare Costs/Coverage
Pension Plan Contraction
401(k) Deficiencies
S.S./Medicare
Employment Outlook 19

20. 20

21. Conclusion
Questions?
(202) 21