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As part of its ongoing ERISA enforcement, the Pension and Welfare Benefits Administration recently investigated Walnut, Calif.-based Avacon Corporation’s 401(k) ERISA compliance. As a result of the investigation, the PWBA filed acomplaint, charging that four Avacon plan officials and trustees had failed to forward employee contributions to the plan in a timely fashion. During the […]
Your voluntary separation incentive plan may involve even more paperwork and expenses than you think. According to a new federal government opinion, severance programs that aren’t directly linked to retirement can still be considered pension plans covered by detailed ERISA compliance requirements. 400+ pages of state-specific, easy-read reference materials at your fingertips—fully updated! Check out […]
Governor Gray Davis has just signed new legislation that requires employers to allow workers to use sick leave not only when they are ill, but also to care for a sick child or other family member. The law means many workers can now take paid time off – without being sick themselves – when, for […]
When changing retirement plans, employers sometimes don’t notify employees until all the details are in place. But a new case makes it clear that if you don’t let workers in on your plans earlier, you could face an expensive lawsuit. Employer Enhances Early Retirement Benefits In a workforce reduction, IBM offered workers two early retirement […]
If you have a defined benefit pension plan for your employees, thanks to stock market gains it may contain more money than you’ll need to pay out in benefits. But be careful before you use this “extra” money. One employer recently found there are strict rules about what you can and can’t do with […]