Practical HR Tips, News & Advice. Updated Daily.
The U.S. Court of Appeals for the Seventh Circuit has rejected a lawsuit charging that IBM’s conversion to a cash-balance pension plan violated age discrimination prohibitions in the Employee Retirement Income Security Act (ERISA).
We have an exempt worker who is going to reduce her hours by half. She currently makes $54,000 a year, and we agreed to just cut that in half. We have other employees who will take over parts of her tasks. She knows she will lose her health benefits. But what about vacation, sick time, […]
The Pension Benefit Guaranty Corporation (PBGC)—the federal agency that insures pension benefits for millions of Americans—has published a final rule requiring sponsors of defined benefit pension plans to electronically file their annual premium declarations. Effective July 1, large plan sponsors (those with 500 or more participants) must file premiums electronically for plan years beginning on […]
It’s no secret that retirement and pension plans have come under increased scrutiny in recent years, amidst allegations that benefits are often miscalculated and underpaid. Here’s a checklist to help you avoid some of the most common plan mistakes: Check your plan documents to determine the types of covered compensation. Be sure all relevant […]
According to an analysis by benefits consulting firm Watson Wyatt, the number of large employers that offer only defined contribution/401(k) plans—and not traditional pension plans—is way up. In 2005, 36 percent of Fortune 100 companies offered 401(k) plans only (not in combination with a traditional pension plan), up from 25 percent in 2004 and 17 […]
Suppose employees who must be in shape for their jobs play a game of pickup basketball to cut loose after work. They figure it’s a good way to stay fit for their physically demanding positions, and it is. But does that mean that if someone gets injured in the game, workers’ comp benefits will kick […]
Thomas Davenport worked for Michael Faeth Cleaners (MFC) under its contract with Camp Pendleton to dry-clean military clothing. He lived in a hotel on the base and MFC paid for his room and board. One day, while Davenport was cooking in his hotel room, a grease fire started and Davenport was burned on his arms, […]