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A free monthly newsletter for plan sponsors and employee benefits 
professionals published by The Benefit Services Group, Inc.

CallConnect Selected by The Benefit Services Group, Inc. to Support Self Service Enrollment System 
EXCERPT: "CallConnect Communications, a leading business services company focused on outsourcing employee benefits communications, has been selected by The Benefit Services Group, Inc. (BSG^®), a broker, consulting and HR technology firm from the Midwest, to provide contact center services to support its online enrollment applications."
Full Article...
11/7/02—CNET.com

2002 401(k) Annual Benchmarking Survey
EXCERPT: "Never in the fifteen-year history of 401(k) plans have plan sponsors and participants faced such a year! Recent changes in the law made it possible to contribute more to 401(k) plans and simplified many 401(k) provisions. But for some participants, it was the year they learned that markets could go down as well as up."
Full Article...
11/5/02—Deloitte & Touche LLP

New Health Tax Credit, New COBRA Election Period, Contained in Enacted Trade Bill
EXCERPT: "More specifically, the Trade Act contains provisions to: 
• Provide an advance payment tax credit for eligible individuals equal to 65% of the premium for certain types of health insurance coverage (including COBRA coverage) for the individuals and their families; and 
• Create a second COBRA election period for eligible workers who lose their jobs because of trade."
Full Article...
11/1/02—Groom Law Group 

Companies Altering Pay and Benefits in Response to Economic Uncertainty, New Watson Wyatt Study Finds
EXCERPT: "Watson Wyatt’s 2002 Strategic Rewards® survey also polled more than 3,000 top-performing employees at various companies and found that most would rather give up their stock-based rewards and skill and career development opportunities than have their benefits or annual pay and bonuses reduced to help their companies address financial difficulties."
Full Article...
10/7/02—Watson Wyatt Worldwide

Spending on Hospital Care Drives Double-Digit Jump in Health Costs
EXCERPT: "Driven by increased use of services and higher prices (payment rates), spending on inpatient and outpatient hospital care climbed 12 percent in 2001, accounting for more than half, or 51 percent, of the overall health care spending increase."
Full Article...
9/25/02—Center for Studying Health System Change 

New Watson Wyatt Tool Helps Employers Re-calculate Retirement Income Strategies for Workers to Maintain Living Standards
EXCERPT: "Diminished performance of 401(k) plans shouldn't be the only concern of workers planning for retirement. Most employees also aren't aware that they may need as much as 105 percent of pre-retirement income to maintain living standards, warns Watson Wyatt based on its new Retirement Income Target (RIT). Unlike many other savings models, the RIT tool accounts for early retirement, inflation and rising medical costs that can decimate savings as retirees age."
Full Article...
8/19/02—Watson Wyatt Worldwide

BSG^® News

Sharon K. Otto, cebs, Senior Manager, Analytical Services, is the most recent staff member to complete qualifications for Certified Employee Benefits Specialist (CEBS). 

The CEBS designation is awarded by the International Foundation of Employee Benefit Plans and the Wharton School of the University of Pennsylvania. Candidates must successfully complete a series of ten college-level national examinations on employee benefits subjects, and meet high standards of business and professional conduct. 

Sue Thomas, rhu, Director, Contracts and Compliance, has now added the designation Group Benefits Associate (GBA) to her title. The designation is issued by the International Foundation of Employee Benefit Plans, and is a stepping stone on the way to a CEBS designation. Sue has completed six of ten CEBS courses.

Kelly J. Jagelski, cebs, rhu, REBC, Director of Business Development, has now achieved the Registered Employee Benefits Consultant (REBC) designation.

The REBC designation demonstrates that the student has successfully completed a comprehensive five-course program, met experience requirements and ethical standards, and has agreed to comply with The American College's Code of Ethics and Procedures and recertification/continuing education requirements.

All BSG® employees hired before May 2002 have completed seven days of training through the Blanchard Training and Development programs Situational Leadership® II and Building High Performing Teams®. In January 2003 new employees will receive this training. In the spring of 2003 all employees will begin a training program on customer service and another on managing change.

By providing links to other sites, The Benefit Services Group, Inc. does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to The Benefit Services Group, Inc.

The preceding is not intended to be and is not offered as legal advice. We are prohibited from the practice of law. Compliance is the responsibility of the employer or Plan sponsor and affected employees, who should seek their own legal counsel regarding questions about information presented in this newsletter.

PlanAhead Direct is a monthly newsletter provided free of charge to select BSG® client representatives and associates. View and search back issues at www.bsg.com/news/index.htm. 

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Copyright 2002 The Benefit Services Group, Inc. BSG® is a registered trademark of The Benefit Services Group, Inc.

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