Practical HR Tips, News & Advice. Updated Daily.
This topic provides guidance on how to handle compensation issues in a way that attracts and retains the best talent and advances the strategic goals of your business. You get news and tips on what’s going on nationally and in the states, and updates on changes in regulations, possible governmental action, and emerging compensation trends.
ERIPs are a win-win, the attorneys say, because: Employers benefit from reducing wages and other costs associated with senior workers, and avoid the negativity associated with a RIF Employees benefit because a portion of that cost savings is passed to retiring workers who can retire earlier than they otherwise might. Anderson, a member of Miller […]
Releases of claims under the Age Discrimination in Employment Act (ADEA) are typically part of ERIPs, but they have to be carefully drafted and managed say the attorneys. If they are not, employees probably can keep the money and still sue you. Anderson, a member of Miller & Martin PLLC in Nashville, Tennessee, and Maxwell, […]
A 39-month prison sentence was handed down Feb. 1 for an Alabama woman who had pleaded guilty to stealing more than 4,000 patient records from a Birmingham hospital. A federal district court sentenced Chelsea Catherine Stewart to 15 months for wrongfully obtaining individual health information in violation of HIPAA, along with an unrelated bank fraud attempt […]
When American Airlines and its parent company, AMR Corp., filed for bankruptcy in November, many industry watchdogs dismissed the event as a chance for the airline to restructure and bring down costs. Which is why the developing skirmish between the #3 airline carrier and the Pension Benefit Guaranty Corporation (PBGC) since then has been like […]
Guidance on how longevity annuity contracts purchased under 403(b) and eligible 457 retirement plans — as well as certain other retirement plans — can comply with the required minimum distribution (RMD) rules under Code Section 401(a)(9) was proposed Feb. 3 by the IRS. Code Section 401(a)(9) prescribes rules for a qualified trust under which the […]
There are two primary laws that will come to bear, the Uniformed Services Employment and Reemployment Rights Act (USERRA), the subject of this article, and Family and Medical Leave Act (FMLA), the subject of a future article. Besides those legal responsibilities, many employers will also consider that they have a broader ethical obligation to those […]
The U.S. Department of Labor (DOL)’s Employee Benefits Security Administration (EBSA) issued the final rule for pension and 401(k) plan fee disclosures on Feb. 2. The announcement was jointly made with the U.S. Department of Treasury, which issued a proposal at the same time to reduce regulatory burdens on retirement incomes. Secretary of Labor Hilda […]
In today’s Advisor, Rizzuti, who is a principal at PHR Compensation Resources, Inc. in Upper Saddle River, NJ, shares her 10 keys for effective market pricing. 1. Collect Good Job Information Ensure that job descriptions accurately portray the job duties and responsibilities. Many jobs have changed in the past few years. Pay special attention to […]
Basically, you must reemploy a service member returning from military duty if he or she meets five criteria: The employee must have held a civilian job He or she must have given you proper notice of the impending military service, unless notice was unreasonable or impossible The cumulative period of service must not have exceeded […]
In today’s Advisor, Rizzuti, who is a principal at PHR Compensation Resources, Inc. in Upper Saddle River, NJ, shares her tips for managing base pay in low budget times. Here are the current compensation mindset issues we’re seeing, says Rizzuti: Coming out of it. All of us have been dealing with a difficult environment, Rizzuti […]