Compliance December 9, 2006

DoL Makes 2006 M-1 Form Available

The US Department of Labor’s Employee Benefits Security Administration (EBSA) will make available Thursday the 2006 Form M-1 annual report for multiple employer welfare arrangements (MEWAs).
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According to a DoL news release, plan administrators can use EBSA’s online filing system to speed the processing of the M-1 form for MEWAs, which are arrangements that offer medical benefits to the employees of two or more employers or to their beneficiaries.

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According to the news release, the annual filing date for the 2006 Form M-1 is March 1, 2007; however, administrators can request an automatic 60-day extension to May 1, 2007.The 2006 form is virtually identical to the previous year.

The online filing system is available on EBSA’s Web site, where filers can complete the form, submit it and then print it for their records. The Web site includes a user manual, frequently asked questions and a link to submit questions electronically.

For access and help on the filing process and forms:

  • Go to www.askebsa.dol.gov/mewa/to use the online filing process.

  • Technical assistance for the online filing system is also available by calling (202) 693-8600.

  • Paper copies of the form may be obtained at www.dol.gov/ebsa and clicking on Forms/Doc Requests.

The Markets December 9, 2006

Emerging, Developed Markets Stayed Positive in November

Returns from the world’s emerging and developed markets stayed in the black in November as oil prices remained significantly below their summer highs, Standard&Poor’s said Tuesday.
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A Standard & Poor’s news release said its global stock market review, The World By Numbers, found that emerging markets gained 7.96% in November, while developed markets rose 2.75% for the month.Developed market returns continued to trail emerging markets for both the quarter and the latest one-year period, S&P found.

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In November, 26 of the 27 developed markets posted gains with an average advance of 4.65%, S&P said.Iceland was the sole decliner, falling 4.49%.Meanwhile, the emerging markets had mixed results, with 19 markets up, averaging an 8.03% gain, and seven markets declining, with an average loss of 4.53%.

For the month, impressive returns were posted by Russia (10.58% from 1.91% in October), China (11.53% from 6.64%), and Taiwan (10.81% from 1.33%).Jordan, however, had posted a slight gain of 1.34% last month but reverted back in November to show a 7.95% loss, resulting in a 12-month giveback of 41.75%.

All 10 sectors showed gains, with Energy as the best performer in November, gaining 6.29%.Health Care managed a slim 0.45% gain, with much of the pressure coming from theUS; Ex-U.S. Health Care was up 1.23%, the S&P news release said.

“Oil prices rebounded from its October close of $58.73 to close at $63.16.Speculation on how consumers might use this “extra’ money ranges from increased holiday spending to viewing the low price as a short-term event due to the volatility of oil prices and not spending,” said Howard Silverblatt, senior index analyst at Standard & Poor’s, in the news release.“Also influencing markets were currency concerns over the weakness of the dollar. The Euro moved up closer to its historical high of 1.36 vs. the US dollar, and the Pound neared the $2.00US mark for the first time in 14 years.”

The full S&P/Citigroup World by Numbers Report for November is at www.standardandpoors.com.

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