Practical HR Tips, News & Advice. Updated Daily.
Does pregnancy leave have to be paid? Our HR Management & Compliance Report: How To Comply with California and Federal Leave Laws, covers everything you need to know to stay in compliance with both state and federal law in one of the trickiest areas of compliance for even the most experienced HR professional. Learn the […]
President Bush has signed the Pension Protection Act of 2006 into law, which overhauls pension funding rules, clarifies cash balance plan rules, encourages automatic enrollment in 401(k) plans, and much more. The law spans a massive 907 pages, and we describe some of its key provisions here.
The U.S. Court of Appeals for the Seventh Circuit has rejected a lawsuit charging that IBM’s conversion to a cash-balance pension plan violated age discrimination prohibitions in the Employee Retirement Income Security Act (ERISA).
We have an exempt worker who is going to reduce her hours by half. She currently makes $54,000 a year, and we agreed to just cut that in half. We have other employees who will take over parts of her tasks. She knows she will lose her health benefits. But what about vacation, sick time, […]
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 […]
It’s no secret that retirement and pension plans have come under increased scrutiny in recent years, amidst allegations that benefits are often miscalculated and underpaid. Here’s a checklist to help you avoid some of the most common plan mistakes: Check your plan documents to determine the types of covered compensation. Be sure all relevant […]