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Retirement

Before reorganization, draw up a staff contingency plan

03/01/2007

Are you planning to use an early-retirement incentive to help reduce the size of your work force? If so, it’s wise to prepare contingency plans for the remaining open positions and carefully document them …

Citigroup’s Cash-Balance Plan Fails the Smell Test, Judge Says

03/01/2007

A U.S. District Court judge has called Citigroup’s cash-balance pension plan “a bold and exploitative contortion” of the fractional rule, which guarantees that pensions accrue uniformly over an employee’s career …

Employer takes pricey gamble playing with pension funds

02/01/2007

The owner of a Hollywood, Fla., insurance agency who siphoned money from the company’s pension fund has been found in contempt of court for failing to restore $107,938 to the plan …

Court rejects Continental worker’s claim of benefit miscalculation

02/01/2007

A federal judge in Texas recently dismissed a lawsuit brought by an employee who sued his former employer under the Employee Retirement Income Security Act (ERISA), alleging that the company had breached its fiduciary duties …

Beware age discrimination risk when offering promotions

01/01/2007

If you don’t ensure that clearly qualified, post age-40 employees aren’t seriously considered for promotions, you could be risking an expensive lawsuit under the federal Age Discrimination in Employment Act …

Employees Can Sue to Rescind Early-Retirement Offers

01/01/2007

A federal district court judge in Texas recently ruled that an employee may proceed with a lawsuit claiming that he was entitled to rescind his early retirement because his employer misrepresented his pension benefits …

Use new govt. data to benchmark benefit percentages

12/01/2006

The U.S. government’s main survey on employee wages and benefits, Employer Costs for Employee Compensation (ECEC), offers a good quarterly snapshot that can help you benchmark your own pay and perks …

How to talk to young employees about retirement planning

12/01/2006

Your 20-something employees are more worried about repaying student loans and moving into their first homes than saving for retirement. So convincing them to contribute to a 401(k) is often a tough sell. The solution: Make your pitch relevant to their lifestyles …

Beware linking RIF with retirement incentives

12/01/2006

It’s not uncommon during economic downturns for organizations to conduct a RIF and—if the expected savings don’t materialize—to follow up with a retirement-incentive plan. But be aware of one pitfall …

New health campaign urges Texans to ‘Own Your Future’

12/01/2006

The U.S. Department of Health and Human Services has chosen Texas as one of six states that will participate in a long-term-care planning promotion campaign …