The Pension Benefit Guaranty Corporation (PBGC) has approved a partition application and will provide early financial assistance to the United Furniture Workers Pension Fund A, a Nashville-based multiemployer pension plan that covers nearly 10,000 participants.
From 401(k) plans to vacation policy, this topic gives HR and Compensation professionals specific strategies on how to handle benefit plans. Articles also provide guidance to brokers, advisers and consultants.
There are few certainties when it comes to today’s health insurance industry. More than ever, employers are seeking help when it comes to navigating a rapidly changing regulatory landscape and developing a benefits strategy that will be cost effective, compliant, and aligned with employee needs.
As yet another attempt to kill the Affordable Care Act (ACA) heats up in Washington, employers wondering how a new law might affect their benefit plans are advised to stay tuned. And with lawmakers facing a short timetable, at least some answers should be coming soon.
Some say the key to attracting and retaining top talent is through a robust benefits package. Benefits play a crucial role in both attracting and retaining employees. Innovative benefit packages are often what distinguishes an employer from the pack—and what you’re not offering potential employees stands out even more. One key benefit you can offer […]
Communicating complicated employee benefit provisions is not easy. Explaining everything in a way that the average plan participant will understand just may not be possible. Different communication channels for different groups likely will have to be used; one size does not fit all. Let’s hope the DOL recognizes this.
Plan withdrawal liability has been in place for U.S. multiemployer plans since 1980. It includes a heavy penalty that requires employers leaving a multiemployer plan to pay their share of the plan’s vested benefits not yet covered by contributions and investment earnings. As a result, healthy companies often seek to leave multiemployer plans before their […]
Do you want to recognize an employee’s 20 years of service by giving a gift? Perhaps you want to refund local transportation costs or open a cafeteria so your employees can eat on-site. Maybe you just want to know how to handle those annual holiday turkeys you give to employees. All of these situations are […]
During the 2015 legislative session, and later in the 2017 regular legislative session, lawmakers started redrafting the sections of the New Mexico Workers’ Compensation Act (WCA) that seemed unfair and unworkable to many employers. The revisions became law on June 16, 2017. Now, when a worker is fired for cause unrelated to a workplace injury, the worker is no longer eligible for workers’ comp benefits beyond the basic impairment rating benefit.
If yours is a small company, you may feel envious about the fabulous employee benefits packages offered by the big guys. Just like them, you need to attract and retain key talent to move your business forward. But with their fancy dry cleaning pick up service and pet insurance, how can you compete with larger […]
On June 28, 2017, the Minnesota Supreme Court held that an undocumented worker asserted a valid retaliation claim after he was placed on unpaid leave for seeking workers’ compensation benefits.