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Only 25 percent of the 300 mid- to large-sized employers polled in a survey by global HR-services company Hewitt Associates said they viewed a high participation rate in their 401(k) plans as the prime measure of the plans’ success. The survey indicated that more employers are placing less importance on the number of employees enrolled […]
The U.S. Supreme Court has handed down an important new ruling that could open the floodgates for claims by employees charging that their employers mishandled retirement accounts. The new case involved James LaRue, who filed a lawsuit under ERISA—the federal law that governs employee benefits—claiming that his employer’s failure to follow his investment directions under […]
With Valentine’s Day around the corner, romance is in the air—and maybe even in the workplace. But while workplace romance may be a nice diversion for those involved, it can create some big risks for employers. This can include the threat of sexual harassment lawsuits when a relationship sours, lowered productivity, and even diminished morale […]
We’ve had a string of sad situations recently that have really tested our bereavement leave policy. We currently offer three days off for the death of an employee’s immediate family member. One situation involved the death of a family member on the East Coast, for which our employee wanted five days of bereavement leave. Another […]
Here are both an example of a broad “bereavement allowance” policy—which doesn’t specify that leave may only be taken for the death of an immediate family member—and a sample employee statement. These samples are provided courtesy of Diana Gregory, SPHR, of Administaff’s Walnut Creek office. Our HR Management & Compliance Report: How To Comply with […]
Why is the Normal Retirement Age in defined benefit plans, like ours, usually age 65? Can we change our Normal Retirement Age? – Nancy C., Berkeley 400+ pages of state-specific, easy-read reference materials at your fingertips—fully updated! Check out the Guide to Employment Law for California Employers and get up to speed on everything […]
By 2010, 60 percent of defined contribution plans will offer a socially responsible investment (SRI) option, according to a study released this past summer by Mercer Investment Consulting, a global provider of HR and related financial advice and services, in conjunction with the Social Investment Forum, a nonprofit organization that promotes responsible investing. Nineteen percent […]
Of course you offer an executive deferred compensation plan; it’s a given, right? Both the executives you’re trying to recruit and your own staff expect you to have one. What’s more, if you’re competing for talent with the company across town and it has a deferred comp plan, you’d better have one, too. And what […]
With the enactment of the Pension Protection Act of 2006 (PPA), plan sponsors were given a freedom they didn’t have before. The legislation, which William Arnone of Ernst & Young calls “the most far-reaching legislation impacting benefits since ERISA,” enables plan sponsors to offer employees investment advice without exposing themselves to liability for the outcome […]
We have several employees who punch in early or late, anywhere from 15 to 30 minutes at either end. They say they are “getting their workstations ready” or “finishing up.” Their supervisors have informed me that the overtime is not authorized and should not be paid. But I think I have to pay it if […]