Tag: pensions

The Evolution of Retirement: From Pensions to 401(k)s and What It Means for Employee Retention

By Lin Grensing-Pophal, Contributing Editor Sep 13, 2024 Benefits and Compensation

Updated: Sep 13, 2024

In the modern, information-based economy, human talent is incredibly important to just about any organization. Finding, recruiting, and retaining that talent is consequently extremely important as well, and businesses have many strategies aimed at retention, from creating diverse and inclusive workspaces to tenure-based bonuses and advancement schemes. But what ever happened to the ultimate corporate […]

How to Create Effective Employment Offer Letters

By Steven E. Bers, Attorney, Whiteford, Taylor & Presion L.L.P. Jun 20, 2022 Recruiting

Updated: Jun 20, 2022

Good news! During these times of challenging recruitment, a viable applicant seems interested in your business. What’s the next step to set the hook? A job offer letter serves many purposes. It should enhance the candidate’s interest in the opening and protect your company against claims that it misrepresented the employment opportunity. The letter also […]

Ruling Helps Employers Ending Union Pension Funding

By Alexander J. Burridge, Attorney, Bodman PLC Nov 15, 2021 Benefits and Compensation

Updated: Nov 15, 2021

The U.S. 6th Circuit Court of Appeals (which covers Michigan employers) recently issued a long-awaited decision about the appropriateness of interest rate assumptions used by union pension funds to calculate withdrawal liability. The court affirmed a district court’s opinion holding the Ohio Operating Engineers Pension Fund’s use of the “Segal Blend” violated the Employee Retirement […]

Defined benefit retirement plan

Almost a Third of Defined Benefit Plans Have 95% Funding, Making Buyouts, Risk Transfers ‘Feasible,’ Study Finds

By Jane Meacham, Contributing Editor Aug 7, 2018 Benefits and Compensation

Updated: Aug 7, 2018

Approximately 30% of U.S. defined benefit (DB) pension plans currently have a funded status of 95% or higher, making a full buyout or significant risk transfer transaction a “feasible option” for a growing number of plans since the start of the year, according to a recent analysis by RiskFirst, a financial technology company that works […]

Ex Gratia Payments in Pension Plan Allowed

By Lyne Duhaime Aug 14, 2011 Northern Exposure

Updated: Aug 14, 2011

By Lyne Duhaime On June 21, 2011, in Canadian Jewish Congress v. Polger, the Court of Appeal of Quebec overturned a decision of the Superior Court that had ordered an employer to pay millions of dollars in pension benefits based only on an alleged practice and without proper written documentation to that effect. The pension […]

Do Your Benefit Plans Violate the ADEA?

By Virginia Employment Law Letter Apr 15, 2010 HR Hero Line

Updated: Apr 15, 2010

by Stephen Stine We aren’t getting any younger, and neither are your employees. As a result, employers are increasingly having to confront age-related issues that may lead to legal liability. These issues arise not only in the context of hiring and firing decisions but also in the design of benefit plans. To ensure your benefit […]

Reducing Pension Costs in Canada During Hard Times

By Lyne Duhaime May 26, 2009 Northern Exposure

Updated: May 26, 2009

The recent decline in financial markets has caused Canadian pension plans to become significantly underfunded. For instance, in Québec close to 97 percent of all defined benefit pension plans are currently underfunded. As this continues, many employers may look for ways to reduce pension costs or at least offset increases of those costs. Such losses […]

While America Aged by Roger Lowenstein

By Jeff Farthing Dec 17, 2008 HR Management & Compliance

Updated: Dec 17, 2008

HR Hero Line editor Wendi Watts reviews the book While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC Subways, and Bankrupted San Diego, and Loom as the Next Financial Crisis by Roger Lowenstein. She argues that this book is particularly relevant and important in light of the current economic crisis and how […]

Generation Gap: Perspective key to dealing with generational divide

By Diversity Insight Mar 17, 2008 Diversity & Inclusion

Updated: Mar 17, 2008

Here’s something you’ve probably never heard (or said): “Man, those kids in the younger generation really have their noses to the grindstone; they work much harder than we ever did.” Fact is, there always has been a divide between generations. Each generation clashes and reacts to the one before it. Consider this analogy: The Internet […]