Total sales of U.S. single-premium defined benefit (DB) pension buyout products soared above $4.7 billion in the first quarter, the highest pension risk transfer (PRT) sales in that period in more than 30 years, according to data from the LIMRA Secure Retirement Institute. That level is more than triple the value of the previous first-quarter […]
The Pension Benefit Guaranty Corp. (PBGC) will be changing its reportable events filings to include controlled-group information, company financial statements, and defined benefit (DB) plans’ actuarial valuation reports, adding more detail to five plan or employer events already reportable to the agency that rescues failed pensions.
A recent survey of 1,000 office workers by Adler Business Gifts found that 97% of employees expect company perks as part of their employment package. We all know how much recruitment can cost, so retaining your staff is more important than ever. If your business isn’t already offering a benefits package alongside your basic salary, […]
Employee benefits other than wages have evolved over the years as companies look for new ways to retain good employees, boost employee morale, and encourage employee loyalty. Each year, we at HRHero and BLR survey our readers to find out what benefits they offer and how their benefits plans are decided and change to fit […]
By Kevin O’Neill On April 5, 2012, the Supreme Court of Canada said it would hear IBM’s appeal from the British Columbia Court of Appeal’s 2011 decision in Waterman v. IBM Canada Ltd. This important case will likely allow the Supreme Court to re-examine damages principles arising in a wrongful dismissal action. The case raises […]
Mandatory retirement has a long and storied history as part of the Canadian labor system. As we enter 2010, it appears that a new chapter is being written, one in which mandatory retirement is the exception rather than the norm. In Canada, mandatory retirement developed along with the introduction of private and public pension plans. […]
In a May 18, 2009, decision, the U.S. Supreme Court addressed the issue of whether women who took maternity leave decades ago (before discrimination based on pregnancy became illegal) can sue to have their pregnancy leave time count toward their pensions. The Court reversed the Ninth U.S. Circuit Court of Appeals’ ruling and held that […]
Sorry for the sports cliché, but it fits. There are a lot of distractions in life — now more than ever. The recession (I’m surprised someone hasn’t come up with a four letter word for it) has everyone distracted. Admit it, you come to work and you’re distracted. You log on to the Internet to […]