Feature | Published in January 2013

Back to Work

What the 2012 election results mean for employer-sponsored benefit programs

By Corie Russell | January 2013
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Brian Stauffer

The presidential election may be over, but questions about changes under the Obama administration have
just begun to arise.

With Barack Obama elected to a second term, technical corrections to the Patient Protection and Affordable Care Act (PPACA) and pension funding relief legislation likely will be introduced and may pass, Buck Consultants predicts in its paper “Status Quo: Obama and a Mixed Congress—Little Legislation, Heavy on Regulations.” In addition, the Obama administration is expected to work quickly to implement
the remaining provisions of the PPACA.

Also expected down the pike is the reproposal, by the Department of Labor (DOL), of an expanded definition of fiduciary under the Employee Retirement Income Security Act (ERISA), as well as a proposal
to provide plan participants with retirement income projections.

With so many balls in the air, how can plan sponsors best prepare for the coming months and years? Here, we offer a breakdown of the most pressing issues sponsors should keep in mind: