State Minimum Wage Increases for 2018 (Map)
Minimum wage increases will affect numerous states across the country in January 2018.
Category: Benefits and Compensation
This topic provides guidance on how to handle compensation issues in a way that attracts and retains the best talent and advances the strategic goals of your business. You get news and tips on what’s going on nationally and in the states, and updates on changes in regulations, possible governmental action, and emerging compensation trends.
Software Glitch Causes $100K Benefits Shortfall, DOL Says
A recent U.S. Department of Labor (DOL) Wage and Hour Division investigation of Alabama-based government contractor InfoPro Corp. found an unintentional software glitch caused employee health and welfare benefits to be underpaid from July 1, 2015, to September 30, 2016. Division investigators determined that InfoPro owed $126,329 in health and welfare benefits to 84 employees […]
Fedex Miscalculated Pension Benefits for Employee Who Took Military Leave
The 6th Circuit—which covers Kentucky, Michigan, Ohio, and Tennessee—recently heard a claim by an employee who alleged that his pension credits were improperly calculated and did not give him sufficient credit for compensation he received during military leave.
HSA Use Grew 23% Between 2016 and 2017, Report Finds
The number of health savings accounts (HSAs) surpassed 21 million, holding about $42.7 billion in assets, according to a research report by Devenir. The investment advisor firm noted that represents a year-over-year increase between June 30, 2016 and June 30, 2017, of 23% for HSA assets and 16% for the accounts.
PBGC Reaches New Agreement with Sears
The Pension Benefit Guaranty Corporation (PBGC) and Sears Holdings Corporation have reached a new agreement that will provide, upon closing, approximately $500 million in funding for Sears’ two pension plans, including contributions already made by Sears since August 2017. The pension plans cover about 100,000 participants. Closing on the agreement should occur in about 3 […]
Do You Hold Teambuilding Events?
Does your organization sponsor events for employees to encourage teambuilding? Why or why not?
Further Hurricane Relief for Retirement Plan Participants Put into Place
The second half of 2017 brought devastating hurricanes to several areas of the Southern U.S. and Puerto Rico. In recognition of Hurricanes Harvey, Irma, and Maria, the U.S. Congress provided for both retirement plan hardship distribution tax relief and more generous plan loan rules for participants whose primary residences were damaged in one of the […]
What is the Workflex in the 21st Century Act?
The Society for Human Resource Management (SHRM) worked with input from HR professionals and with Congress to help create the Workflex in the 21st Century Act, which was introduced in the House of Representatives in early November 2017.
Multiemployer Pension Plan Funding Nears Peak Since 2008 Crash, Study Says
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. But despite an average funded percentage of 81%, these plans still face significant pressures, with many on track to require assistance in the future […]
Ways to Help Employees with Anxiety or Depression
When employees are struggling, there are a lot of ways the employer can impact the situation both positively and negatively. We all know that mental health is a critical component of overall health, and mental health concerns among employees can quickly become problematic. It is in everyone’s best interests for employers to be supportive and […]