Compliance March 22, 2011

TN Passes Bill Rejecting Health Law Mandate

March 22, 2011 (PLANSPONSOR.com) – Tennessee Governor Bill Haslam has signed a proposal that will allow Tennesseans to opt out of the federal health care law mandate for obtaining coverage.
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The legislation, The Tennessee Health Care Freedom Act, provides that every person within Tennessee is free to choose or decline any mode of health care services without penalty or punishment from the government, the Chattanoogan reports. Additionally, it ensures that Tennessee officials will be prohibited from interfering with the health care insurance decisions of every Tennessean.

The House passed the legislation 70-27 earlier this month, and the Senate approved it 21-10 last month.  

The federal health care law mandates that, starting in 2014, citizens must obtain health insurance or pay a penalty.
Products March 22, 2011

Brightscope Hones in on 403(b)s

March 22, 2011 (PLANSPONSOR.com) – Plan ratings provider BrightScope has widened its focus, and now has incorporated 403(b) plan data into the BrightScope Rating system. 

 

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According to a press release, the BrightScope Rating analyzes “more than 200 unique data points per plan — such as company generosity, fees and investment menu — to provide a single numerical score indicative of plan quality.” BrightScope provides open access to plan ratings on its Web site, which it says allows “visitors” (read “plan participants”) to “compare plans, find areas for improvement and ways to initiate positive change with plan sponsors.”  

“The addition of 403(b) plan ratings is another step forward on BrightScope’s mission to increase the retirement security of America’s workforce by bringing transparency and efficiency to the retirement plan market,” said BrightScope CEO, Mike Alfred. “The highly rated 403(b) plans that appear on the inaugural list represent some of the best plans in the country — as measured in terms of size, number of participants and employee demographics — and should serve as an example of excellence that all plan sponsors should strive for on behalf of participants.”  

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Oh, and yes – they have released a listing of what the firm calls “the Top 25 403(b) Plans with more than $100 million in assets”.   

More information is available at www.brightscope.com. 

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