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Retirement

Feds propose new rules that would require more disclosure about 401(k) fees

01/03/2008

The U.S. Department of Labor has proposed new regulations that would require 401(k) administrators to reveal their fees—but not to employees.

EEOC rule allows coordination of retiree health benefits with Medicare

01/03/2008

The EEOC has issued a final rule allowing the long-standing employer practice of coordinating retiree health benefits with Medicare without violating the age discrimination law. The new reg ends a seven-year battle to ensure  "bridge" coverage for younger retirees.

Retiring instead of facing discipline doesn’t constitute constructive discharge

01/01/2008

Employees who retire to avoid facing internal disciplinary charges can’t turn around and claim they were constructively discharged. That’s why employers might want to consider offering retirement in such cases as an option in lieu of discipline …

5 trends will shape compensation & benefits in 2008

01/01/2008

You’re probably under pressure to reduce benefits costs as your organization tries to remain competitive in the marketplace. But don’t neglect your competitiveness in the race to attract and retain the best employees. They’re probably looking for even better benefits to offset static pay raises. Five key issues are emerging in 2008 for compensation and benefits professionals …

AK Steel uses VEBA to settle retiree health care lawsuit

12/01/2007

AK Steel settled a lawsuit with a group of retirees from its Middletown Works by transferring their health care coverage to a voluntary employees’ beneficiary association (VEBA) trust. The 4,600 retirees sued in 2006 after the company moved to cut retiree health care costs to improve its competitiveness …

Bill would require 401(k) fee disclosure

12/01/2007

A congressional proposal would require retirement plan service providers to disclose all conflicts of interest to help employers and participants decide whether it’s the plan for them …

Do temporary employees count?

12/01/2007

Q. We’re a small company with about 45 employees, but we have another 20 employees who are temporary. Do we have to count the temps when complying with the EEO or other employment laws? …

$27.5 million settlement in law firm’s age discrimination suit

12/01/2007

The international law firm of Sidley Austin LLP, Chicago, will pay $27.5 million to 32 former partners to settle an EEOC lawsuit. The EEOC claims 29 of the partners were either expelled or demoted during a 1999 reorganization, and the remaining three retired under the firm’s age-based retirement policy …

New rules make it easier to auto-Enroll employees in 401(k) plan: Should you do it?

12/01/2007

If a frustratingly large percentage of your work force doesn’t participate in the organization’s 401(k) plan, you’re not alone. The government reports that one-third of eligible employees shrug off their employers’ 401(k) plan. But final U.S. Labor Department rules published last month could change all that …

EEOC drives a stake into heart of age-Based retirement policies

12/01/2007

Does your organization have a policy requiring employees to retire (or step down to a lesser position) once they hit a certain “unbecoming” age? If so, a groundbreaking $27.5 million EEOC settlement shows that you’d better retire those policies … not the people …