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Retirement

DOL: TMG National Holdings held onto too much

03/13/2009

The U.S. Department of Labor has filed suit against TMG National Holdings, a real estate development company based in Chicago, alleging it diverted funds intended for employee retirement benefits.

Study cites New York as a hotbed of wage-and-hour claims

03/06/2009

A recent report offers some ominous news for New York employers. New York 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.

Warn employees of the dangers of dipping into 401(k) funds

03/03/2009

As the economic meltdown worsens, employees facing personal budget crises may go looking for their own financial bailouts—by tapping into 401(k) savings. They may turn to HR pros like you to learn how to take hardship withdrawals or borrow against their investments. There are good reasons to steer them away from treating their retirement nest eggs as rainy-day funds.

Study cites Texas as a hotbed of wage-and-hour claims

03/03/2009

A recent report offers some ominous news for Texas employers. Texas 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.

Study cites N.J. as a hotbed of wage-and-hour claims

02/24/2009

A recent report offers some ominous news for New Jersey employers. New Jersey is one of eight states that saw an increase in class-action wage-and-hour cases filed in state court last year. Advice: Brace yourself for even more wage-and-hour litigation. Such cases typically increase during economic downturns …

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.