It's that time of year when we go nuts for lists. I don't know what it is about the end of a calendar year, but it spurs the birth of more top 10 lists than a David Letterman bender. Top movies? OK, fine. Songs? Sure, why not? But top deaths? Seriously?
So, in that spirit of wrapping up a year we'd all like to forget, I'd like to take my own personal stab at the year's top five employee benefit stories, but I'm unwilling to commit to them in any particular order.
AIG, of course, earns a place in any such list by virtue of their sheer size. While their insurance business remains solid and their benefits arm is just a fraction of what they do, their government loan and the press it generated sent shockwaves through the industry.
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The U.S. Supreme Court's rulings on two separate court cases helped pave the way for different aspects of the business. First, the court ruled in LaRue v. DeWolff, Boberg, & Associates that defined contribution plan fiduciaries have to live up to more responsibilities than ever before. And, in San Francisco, the court upheld the city's "unique" health care spending mandate.
While it didn't make much news, Congress finally passed a palatable mental health parity law, even though it got jammed into a mess of unrelated bailout legislation. Although the jury's still out on this one …
Speaking of which, former Sen. Barack Obama's election not only made history, but it concluded an election we all knew would have profound implications on how we do business.
Oh well, auld lang syne, right? Here's to next year's top 10 bailouts …
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