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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 […]
A jury in Alameda County has awarded $61 million to two former FedEx Ground drivers who charged they were harassed by a manager for over two years. The drivers, Edgar Rizkallah and Kamil Issa—both of Lebanese descent—claimed that manager Stacy Shoun at the company’s Oakland terminal subjected them to a barrage of racial slurs, including […]
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 U.S. Equal Employment Opportunity Commission (EEOC) has issued a new fact sheet addressing reasonable accommodation under the Americans with Disabilities Act (ADA) for attorneys with disabilities. The new publication is available on the agency’s website. According to the EEOC, one goal of the fact sheet is to dispel the myth that disabled lawyers who […]
Employers that offer automatic enrollment for their 401(k) plans significantly increase employee participation, according to an annual study conducted by Hewitt Associates. The study, which examined the savings and investing habits of over 2.6 million employees, found that the overall participation rate of employees in companies offering automatic enrollment was 14 percent higher than the […]
A new study by the Robert Wood Johnson Foundation reveals that the percentage of workers who accepted their employer’s offer of healthcare insurance dropped from 85.3 percent in 1998 to 80.3 percent in 2003. The drop means that 3 million fewer workers who are eligible for employer-sponsored health coverage elected to enroll in it over […]
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 […]
As a result of an upcoming merger, we are going to have a lot of situations in which there is a disparity in salaries. We have a plan for addressing that over a period of three years, but in the meantime, I would like to institute a policy that prohibits employees from discussing their salaries […]