The new law provides a short-term replacement for the current 30-year Treasury bond rate, which is currently used as the benchmark rate for pension funding liabilities. Some employers, unions, and workers expressed concerns about using the Treasury bond rate because it artificially inflates a plan’s funding liabilities. Congress enacted a temporary fix in March 2002 […]
President Bush has issued a new Executive order exempting religious organizations that contract with the U.S. government from prohibitions on religious discrimination in hiring. The order, part of his “faith-based initiative,” applies to religious corporations, associations, educational institutions, and societies. It does not, however, release religious groups from complying with other state and local anti-bias […]
Many times, the easiest way to train managers about HR issues is to ask them to imagine themselves on the witness stand. When they realize what they will have to admit to, they learn fast.
Insurance Commissioner John Garamendi has announced he will recommend a 16.4 percent decrease in the workers’ compensation pure premium rate for policies starting on or after July 1, 2006. This recommendation is the latest in a string of recommended rate reductions since July 2003, when workers’ comp reforms went into effect. The cumulative recommended reductions […]
The Equal Employment Opportunity Commission has approved a rule that would allow employers to reduce or cut retiree health benefits once a retiree becomes eligible for Medicare or a comparable state-sponsored health benefit—without violating the Age Discrimination in Employment Act. According to the U.S. General Accounting Office, 10 million retired employees age 55 and over […]
Gov. Davis has signed new legislation that boosts the penalties for various California Labor Code violations, effective Jan. 1, 2004. Here are the increases that are on the way:
President Bush has proposed a new package of emergency grants and unemployment assistance to help states deal with increased unemployment following the Sept. 11 attacks. Workers in states where the total unemployment rate has jumped by 30% above the Sept. 11 level would be eligible for an additional 13 weeks of unemployment benefits, which would […]