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Retirement

Arnold’s last act: New contract scales back state pensions

12/21/2010
Members of Local 1000 of the Service Employees International Union, which represents 95,000 California state employees, have voted to accept a new labor contract that features significant pension reforms sought by Gov. Arnold Schwarzenegger.

11 for ’11: Big trends shaping comp & benefits

12/13/2010
Pay-for-performance and higher employee health care contributions look like they’ll remain fixtures of the post-recession comp and benefits landscape. Here are 11 other trends that could take a firm hold in 2011:

DOL to require more disclosure of 401(k) fees

11/08/2010
Starting Jan. 1, 2012, employers will need to more clearly spell out—in quarterly statements—the fees charged by their 401(k) plan so employees can comparison shop among the plan’s investment options, say new Department of Labor rules.

Employees still worried about personal financial security

10/22/2010

Workers who participate in employer-sponsored benefits plans are more optimistic about the direction of the U.S. economy in general, but remain extremely concerned about their own situations, according to a new survey by the benefits consulting firm Mercer. Their anxiety shows in greater worry about keeping their jobs and the adequacy of their retirement benefits.

New small-business law includes tax breaks, 401(k)-to-Roth conversions

10/19/2010
The Small Business Jobs and Credit Act of 2010—signed last month—offers a series of tax breaks and other provisions to prop up small firms. One new provision, sure to be of interest to your employees, allows participants in defined contribution retirement plans to roll over funds into tax-advantaged Roth 401(k)s. Get the details employees need to know.

Mopey workers? 8 ways to snap ’em out of it

10/18/2010

The economy isn’t the only thing that’s in a slump these days. Plenty of workers are in the doldrums, too. They feel stuck in their jobs because new ones are hard to come by. They can’t afford to retire. So they’re not performing as well as employees who look at their jobs as labors of love. Here’s how HR can help get them back on track.

Can worker who is out on unpaid leave suspend payments to her 401(k) loan?

10/15/2010
Q. We have an employee out on an unpaid leave of absence. She has informed us she would like to suspend payment on a loan she took out against her 401(k). Is that permitted?

Benefits primer: How to stop worrying and love your 401(k) plan

10/15/2010

Admit it. Administering your company’s retirement plan is probably one aspect of the job you wish you could leave behind. But it’s an important one. A retirement plan is a legally binding document that gives enforceable rights to plan participants. Failing to follow plan terms can be a headache—and costly! Fortunately, a few easy steps can help keep your retirement plan on track and in compliance.

The HR I.Q. Test: October ’10

10/13/2010
Test your knowledge of recent trends in employment law, comp & benefits and other HR issues with our monthly mini-quiz …

401(k) matches start getting back to normal

08/17/2010
Less than half of the employers that reduced or stopped matching contributions to their employees’ 401(k) plans during the recession had restored them as of this spring—but almost all of them said they will, according to the most recent Towers Watson Defined Contribution Survey.