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Retirement

Study: Pennsylvania a hotbed for W&H claims

02/24/2009

A recent report offers some ominous news for Pennsylvania employers. Pennsylvania is one of eight states that saw an increase in class-action wage-and-hour cases filed in state court last year, according to the Seyfarth Shaw law firm’s new Workplace Class Action Litigation Report.

Heading to bargaining table? Review contract language before changing benefits

02/12/2009

If your organization has a collective-bargaining agreement with a union, make sure you check with counsel before you make any changes to benefits. In some cases, promises made in past contracts—such as a promise to provide retiree health benefits—may be a binding, vested promise that cannot be undone, at least for those who have already qualified.

DOL chases down ‘orphan’ retirement funds

02/12/2009

Here’s a trend to watch out for as the economy continues to slow: As companies go out of business, employees sometimes lose access to their retirement funds. It’s not a new problem, but it’s one the U.S. Department of Labor (DOL) is trying to fix.

Automakers offer early retirement packages

02/12/2009

General Motors and Chrysler have offered blue-collar workers at selected plants early retirement packages. The buyouts allow the struggling manufacturers to cut short-term costs, but also reduce future labor costs.

Workers have false confidence about benefits

01/27/2009
How much do your workers really understand about their employee benefits? A new study says U.S. employees truly understand less than they (or you) would think.

Class actions exploded in ’08, employers continue to pay the price

01/27/2009

Employment law class-action litigation is growing at an explosive rate, and the economic meltdown will probably fuel even more lawsuits in 2009. So says a recent report that also predicts far greater financial exposure for employers that must defend their employment policies in court. Here are the gory details.

Motorola cuts executive pay, freezes employee pension

01/16/2009

Schaumberg-based Motorola announced in December that it would cut executive pay and freeze pension contributions to control costs. Co-chief executives Greg Brown and Sanjay Jha said they would trim their own base salaries by 25% in 2009.

Appeal to 50+ staff with tailored benefits, relevant messages

01/05/2009

Organizations that appeal most to employees age 50 and older make it a point to focus recruiting efforts on that group. And they stuff their benefits packages with perks that help older employees balance work with caregiving responsibilities. Here are five best practices your organization can adopt.

Firms to freeze pension benefits, rethink investments

01/05/2009

At least 40% of organizations are likely to freeze or change their pension benefits because of the recession, a new poll reveals.

Disabled former employees can’t recover benefits under ADA unless they seek rehire

01/05/2009

In a common-sense decision, the 6th Circuit Court of Appeals has ruled that former employees who are disabled cannot sue their former employers under the ADA to recover retirement benefits that were reduced because they received Social Security disability payments from the federal government.