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One of the foremost researchers into retirement policy, she has a particular focus on household saving and investment behavior. Almost 20 years ago, she and Dennis Shea published a pioneering study that showed how using automatic enrollment in retirement plans dramatically improves participation among employees.
The results were impressive – minority head coaching hires in the NFL increased from 6% to 22% in 2006 – and as the White House strives to show, the implications of the rule can be far-reaching. As baby boomers head into retirement, companies will face a huge shortage of skilled workers to replace them.
Retirement plan recordkeeping, trust, and custody fees—in a steep decline for years under pressure from sponsors, participants, federal regulations, and litigation—remained flat for the first time since 2010, according to a new survey. Jane Meacham is the editor of BLR’s retirement plan compliance publications.
The 2006 Bangladesh Labor Act states that an establishment may make its own rules as long as it follows the regulations specified in the Act, and as long as they are run past the Chief Inspector. The 2006 Labor Act of Bangladesh states daily and weekly working hour limits that each employer should follow. Conditions of Employment.
When the Tax Cuts and Jobs Act (TCJA) was signed into law December 22, 2017, several proposed changes to the federal tax code that would have affected tax-qualified retirement plans were dropped. This article details three key areas that should be examined now. Special Tax Notices.
At the same time, the reality of increased longevity and longer-term retirements may lead some employees to work beyond a pension plan’s “normal retirement age,” offsetting somewhat the increased liabilities brought about by the latest mortality assumptions. Uses for Mortality Tables.
A retirement research institute suggested several ways to improve the Saver’s Credit for lower-income individuals in a recent paper , steps that also could help employer plan sponsors ensure that their plans remain in compliance with nondiscrimination requirements. Why It Was Created.
Compliance-prevention-culture. bbaerman : Professional Communicator, Workforce Management Guru, Compliance Enthusiast, Employer Advocate. chuckgallagher : International Business Ethics Speaker, Author and Consultant focusing on The Human Side of Ethics and Compliance Issues-leadership and motivational quotes. Deus vicit.
Multiemployer retirement plans’ funding in the first half of 2017 neared its best position since the market collapse of 2008, according to a new study by the actuarial consulting firm Milliman. Jane Meacham is the editor of BLR’s retirement plan compliance publications. Gap Continues to Widen.
Plans with assets below that level may have trouble meeting obligations to retirees and other beneficiaries or face benefit restrictions established by the Pension Protection Act (PPA) of 2006. Jane Meacham is the editor of BLR’s retirement plan compliance publications. tax reform.
Does the Employee Retirement Security Act of 1974 (ERISA) allow employers to abandon these sinking ships scot-free? Jane Meacham is the editor of BLR’s retirement plan compliance publications. kgtoh / iStock / Getty Images Plus. No, according to a recent decision by the U.S. Pension Fund , No. 16-16443 (11th Cir.,
PBGC) has added two more conditions to the list of early warning factors that it watches and believes may endanger the funding of single-employer defined benefit (DB) retirement plans. Under the Pension Protection Act of 2006, benefit restrictions apply when a DB plan becomes underfunded to certain prescribed levels.
Staying up-to-date with these changes is imperative for two principal reasons: ensuring legal compliance and fostering a work environment that is safe, respectful, and conducive to productivity. Non-compliance can result in significant fines and also tarnish a company's reputation.
However, the court ruled, the plan had failed to disclose this adequately as required by the Employee Retirement Income Security Act (ERISA). UPS issued a summary plan description (SPD) in 2006 that applies to both the active employee and retiree plans. The case is King v. Blue Cross & Blue Shield of Ill., 15-55880 (9th Cir.
Santiago submits medical certification stating that he cannot work overtime, the DOT is unable to locate an alternate position for him, and the DOT informs Santiago he must resign or seek disability retirement. Santiago resigns and sues, claiming that his FMLA rights were violated. This hypothetical is based on the case of Santiago v.
In 2000, I attended nursing school at University of Texas Medical Branch and then practiced as a women’s health RN in Houston for about 2 years before moving to Los Angeles in 2006. Nurture employees as if they will retire with your company. This was a very long and tiresome shift from 5:00 am PST until 8 pm PST!
Tony Greenwald, a retired psychology professor at the University of Washington, and Thomas Pettigrew, a professor emeritus at the University of California at Santa Cruz, concluded from research results that favoritism — not overt hostile behavior from racists, homophobes, and other bigots — drives most claims of discrimination.
From rock-solid payroll to proactive compliance to managing employees across borders, ADP Workforce Now frees you from mundane administrative tasks so you can focus on your people and drive business results. We help businesses streamline their employment processes from recruiting to retirement and everything in between. VIEW DETAILS ».
Healthcare spending is rarely an indicator of good news, but a recent Health Affairs report reveals increased spending between 1996 and 2006 resulted in improved health outcomes. Medical expenses in retirement have increased 5% year-over-year totaling an average of $315,000 for a couple over 65.
A shift to using real market returns for interest crediting in defined benefit (DB) plans’ cash balance (CB) features is lessening volatility and making the supplementary retirement accounts more appealing to plan sponsors—especially because this type of formula is more responsive to changing market conditions, according to a recent study.
Baby Boomers currently make up about one-third of the nation’s workforce, and they’re all approaching—or have already reached—retirement age. That makes it seem like you’re all set to start welcoming Gen Z into your ranks as Boomers gradually retire, right? Gen Z is small. stars and an average Value rating of 4.8
Providing retirement benefits . and Lawson E., “The People Problem in Talent Management,” McKinsey Quarterly 2(2006): 6-8. Hence, the focus must be to build a talent model, unique to your organization, with integrated elements, in compliance with all your business operations. . Succession planning . It shows that.
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