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The second round of revisions to IRS’ Employee Plans Compliance Resolution System in a week focused on failures in automatic enrollment and escalation in defined contribution retirement plans. The procedural changes from the agency also addressed DC plans’ automatic employee contribution features that experience short-term elective-deferral failures. The procedural changes in Revenue Procedure 2015-28 were released […]
Perhaps you’ve heard about the growing number of organizations that are opting to remove limits from employee vacation time. Instead of imposing an arbitrary number of vacation days for employees, such as 2 weeks, they’re allowing employees to take time off as needed, without counting the days.
Big data is omnipresent in today’s business landscape. Metrics and analytics, along with the hypotheses drawn from them, are having a great impact on how decisions, big and small, are made—including in the field of human resources. So, what’s happening with HR metrics out there? What are your competitors measuring to gain an advantage? Help […]
The U.S. Supreme Court decided to hear a case to resolve whether an ERISA health plan can recover money it spent on a plan participant’s care from his or her personal injury settlement, even if the participant has already spent those particular funds. To settle this question, the Court granted certiorari March 30 in Montanile v. Bd. of Trustees […]
In shades of science fiction, an Australian professor (there always was a professor in those old sci-fi movies) has made a dire prediction—robots may end employment as we know it. Maybe HR staff in the future will be addressing circuits and batteries rather than comp and benefits. Will they need an oil can?
Yesterday, we looked at the AESC BlueSteps Executive Compensation Report, which revealed that executive compensation is on the rise. Today, we turn to smart drafting of executives’ contracts.
IRS on March 27 released a series of changes to its Employee Plans Compliance Resolution System that it said would improve the correction programs. Among the modifications to Revenue Procedure 2013-12 announced are new options for correction methods to recoup participant overpayments and lower compliance fees for participant plan loan errors. The 17-page Rev. Proc. […]
Remember the old Eveready® battery commercial with Robert Conrad in a muscle shirt playing the tough guy? He had an Eveready battery sitting on his shoulder while he muttered the line, “I dare you to knock this off.” I’m not sure why he was daring anyone to knock the battery off his shoulder or what […]
The U.S. Supreme Court on March 25 vacated and remanded an appeals court ruling that the Pregnancy Discrimination Act does not require employers to accommodate pregnant employees. In Young v. UPS, the 4th Circuit held that UPS did not violate the PDA by limiting light-duty accommodations to employees: (1) injured on the job; (2) disabled as […]
Five years ago, in March 2010, the Affordable Care Act was signed into law by President Obama to resolve problems in the U.S. health system, including: the high number of uninsured Americans; Americans unable to get coverage due to pre-existing conditions; the high cost of care; and suboptimal care as a result of poor incentives […]