Benefits July 9, 2013

Health Care Reform Has Most Impact on Workplace

July 9, 2013 (PLANSPONSOR.com) - Respondents to a survey chose health care reform as the regulatory issue expected to have the most impact on the workplace over the next 12 months.
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Fifty-seven percent indicated it will have a significant impact, and 37% said it will have a moderate impact, according to the “2013 Executive Employer Survey” by employment and labor law firm Littler Mendelson, P.C. Respondents also expected U.S. Department of Labor regulations under the Affordable Care Act (ACA) to be the most pressing priority of the current nominee for secretary of labor, Thomas Perez (61%).

In reflecting on actions their companies have taken or anticipate taking in response to the ACA’s implementation, only 6% of respondents noted discontinuing health care benefits for full-time employees and paying the penalty under the ACA’s “pay or play” mandate. However, the findings suggest they are exploring various avenues to adjust to the new regulatory environment, including:

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  • Implementing employee wellness programs, which was the top action identified by more than half of respondents (54%);
  • Offering employee health care benefits through private health insurance exchanges (31%);
  • Limiting more employees to less than 30 hours per week (27%); and
  • Reducing hiring of new full-time employees (20%).

The annual survey was completed by more than 400 in-house counsel, human resources professionals and C-suite executives, many from the nation’s largest employers. The survey report is here.

Products July 9, 2013

SSgA Launches New ETF, Updates Others

July 9, 2013 (PLANSPONSOR.com) – Asset management firm State Street Global Advisors (SSgA) announced the availability of the SPDR Russell 2000 ETF (ticker symbol, TWOK).
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SSgA also announced changes to the indexes, names and tickers of three U.S. equity SPDR ETFs. The three SPDR ETFs will seek to track Russell Indexes that provide comprehensive coverage of each underlying market segment.

The SPDR Russell 2000 ETF seeks to track the performance of the Russell 2000 Index, which measures the performance of the small-cap segment of the U.S. equity market. The index is a subset of the Russell 3000 Index, which represents approximately 10% of its total market capitalization and includes approximately 2000 of the smallest securities based on a combination of market cap and current index membership, according to SSgA.

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The updated ETFs include: the SPDR Dow Jones Total Market ETF (ticker symbol, TMW), which will now be called the SPDR Russell 3000 ETF (THRK) and switched from the Dow Jones Total Stock Market Index to the Russell 3000 Index; the SPDR Dow Jones Large Cap ETF (ELR), which is now the SPDR Russell 1000 ETF (ONEK) and switched from the Dow Jones Large Cap Total Stock Market Index to the Russell 1000 Index; and the SPDR Down Jones Mid Cap ETF (EMM), which is now the SPDR Russell Small Cap Completeness ETF (RSCO) and switched from the Dow Jones U.S. Mid Cap Total Stock Market Index to the Russell Small Cap Completeness Index.

“Our ETF leadership drives our commitment to continually reviewing the SPDR offering to ensure it provides our clients with access to a broad range of asset classes and strategies,” said James Ross, senior managing director and global head of SPDR Exchange Traded Funds at SSgA. “The Russell indexes are strong U.S. equity benchmarks that are backed by a transparent, rules-based methodology that is accurate and replicable.”

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