Practical HR Tips, News & Advice. Updated Daily.
By Jane Meacham While acknowledging that maintaining traditional defined benefit (DB) pensions has become either too expensive or too burdensome, several Fortune 500 company retirement plan sponsors would like to replicate for their defined contribution (DC) plans some of the efficiencies from their DB plans, according to a new survey report from BNY Mellon.
Well, not 60 seconds, but 10 days according to internationally-known HR thought leader John Sullivan, PhD. He cited research by Officevibe.com and says that the best candidates only stick around the job market for 10 days! Check out his tips on what you can do with that limited time frame.
Terminating an employee is an uneasy decision. Obviously, it negatively affects the employee, it’s stressful for everyone involved, and it can lower morale (thus affecting productivity) of other employees. Clearly, this is a situation we’d all prefer to avoid.
By Jane Meacham The IRS on June 15 released guidance on paying employees from a defined benefit (DB) plan once the participant has entered phased retirement and whether the distributions should be taxed.
Employers nowadays may feel bombarded with advice on how to retain millennial employees. Those younger workers have the reputation of moving from job to job, so employers wanting to get the most from the investment they make in their youngest employees put a lot of energy into encouraging them to stay. But what about older […]
After decades of job hopping—by necessity or design—some people have accumulated several retirement accounts, making it a confusing chore to keep track of what’s happening with their money.
By Jane Meacham Retirement plan service providers likely will face the most need to change business models among those affected by the U.S. Department of Labor’s (DOL) final fiduciary rule issued in early April. Although adoption of the regulation is more than a year away, many respondents to an industry survey quickly registered confusion, and […]
As older Americans approach retirement, many may be realizing their financial planning isn’t what it should have been. That could mean they need to postpone retirement—or abandon the idea altogether. “Most people don’t spend much time even thinking about retirement,” says Stephen Ng, founder and president of Stephen Ng Financial Group. Ng is also the […]
By Jane Meacham, retirement plans editor One of the largest multimillion-dollar settlements yet has been reached between an employer retirement plan sponsor and a class of participants over “excessive fees” paid for plan services.
Caught between the Baby Boomers and the Millennials, Generation X is fewer in numbers. They have matured beyond their slacker reputations, and many of them are dealing with young children, elderly parents, and stressful jobs.