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Retirement

8 tips for handling summer military-leave payroll issues

06/14/2011
Summer is usually when employees who belong to the National Guard and military Reserves give their two weeks of duty to Uncle Sam. Now is the time to prepare for their absence, by following these eight tips.

Baltimore salon styles benefits rare in industry

04/21/2011
At most hair salons, stylists are on their own when it comes to time off and health benefits. But the owners of Studio 921 Salon & Day Spa in Balti­more are different, offering one paid week of annual leave to employees who have worked a year, a 401(k) plan with a 3% match and group health insurance.

4 tools to keep golden-years dreams alive

04/18/2011
American workers are less confident than ever that they’ll be able to save enough to retire comfortably, according to a new study by EBRI. Benefits professionals, take note: The finding means you have lots of work ahead of you to help employees meet their retirement goals. But a growing arsenal of online tools can make it easier for employees to take control of their retirement planning.

EBSA moves to rescue ‘orphan’ retirement benefits

04/14/2011
The DOL’s Employee Benefits Security Admin­is­tra­tion (EBSA) has sued Parkland Hotel Investors—once one of the Twin Cities’ biggest commercial financiers—in an attempt to distribute the company’s 401(k) assets to 96 former employees who participated in its retirement plan.

Did Elmhurst firm raid pensions? EBSA, SEC want to know

04/14/2011
Elmhurst-based Results One Finan­cial and its co-founder Steve Salutric face charges of diverting more than $1 million from pension funds it managed.

Acquiring another company? Buyer beware on employee benefits

03/29/2011
If your company ever acquires another company that has multiemployer pension or health benefit plan obligations through a union, beware. You could wind up being responsible for any delinquent contributions or underfunded benefit liabilities of the seller.

Benefits administrator pleads guilty to ERISA embezzlement

03/29/2011
The owner of Ohio-based Irvin Administrative Solutions faces up to 10 years in prison plus fines and restitution for embezzling more than $1 million from 12 different retirement plans located in seven states. The company served as a third-party administrator for employee retirement plans covered under ERISA.

What keeps HR awake at night?

02/22/2011
Rising health care costs, implementing the new health care reforms, rapidly changing business and labor markets, growing regulatory complexity and managing the aging workforce top the list of challenges HR pros face. That’s what the Society for Human Resource Management found when it surveyed more than 9,000 practitioners.

Economy edges upward, so do 401(k) contributions

01/25/2011
As the economy improves—even slightly—employers and employees have begun a slow return to normalcy in how they treat 401(k) retirement benefits. A recent survey by Plansponsor magazine uncovered the following trends in 2010, compared with 2009:

Health network’s full funding pumps up pension contributions

01/18/2011
Sutter Health, a Northern California health care network, pumped $60 million a month into its pension plan for more than 40,000 active and retired employees during the last quarter of 2010. The not-for-profit network promotes its pension benefit as a valuable piece of an employee’s total compensation.