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Retirement

10 ways Generation Y will change the workplace

12/08/2008

There’s no doubt Generation Y will fundamentally change corporate America. It’s already started. Managing Gen Y is a hot topic among consultants, HR executives and talent management professionals. For a Gen Y’er like me, this is great news. We’re primed to change the workplace for the better. Here’s how we’ll do it.

By The Numbers: Top executive pay down 4%

12/08/2008

A cynic might say a 4% average earnings decline isn’t enough, but at least the highest-paid executives in America’s publicly traded corporations are feeling some of the pain of the financial meltdown.

When in doubt, add a stamp

12/08/2008

When Medical Mutual Insurance of Ohio learned that 11 computer disks mailed to state retirement groups in Columbus had not arrived, the insurer contacted the U.S. Postal Service. There was reason for concern: The disks contained personal information on 36,000 Ohio retirees …

A few bright spots in an otherwise bleak economy

12/04/2008

One piece of reassuring economic news for North Carolina state workers: The pension kitty is fully funded and continues to outperform other government pension funds, despite a bleak economic year.

Retirees who take lump sum still have standing to sue

11/25/2008

Don’t think that employees who take their retirement benefits in a lump sum can’t sue for alleged fiduciary breaches. A recent federal appeals court decision says although retirees are not technically employees anymore, they still have standing to sue …

State considers lawsuit over Lehman pension losses

11/25/2008

New Jersey investment director William Clark said the state pension board is considering a lawsuit against Lehman Brothers. The state bought approximately $180 million of Lehman stock in June, only to sell it at a loss of about $100 million …

AG recommends no pension for convicted prisons director

11/12/2008

Donald Snyder, former director of the Illinois Department of Corrections (IDOC), forfeited his right to pension benefits when he was convicted of engaging in “a scheme to defraud the people of the state of Illinois,” Attorney General Lisa Madigan said.

Laser Saver owner pleads guilty to stealing 401(k) contributions

11/10/2008

Gregory Lockhart, owner of Laser Saver Inc., a printer cartridge remanufacturer in Columbus, has pleaded guilty to willful failure to file financial reports for the company’s 401(k) plan with the U.S. Department of Labor.

HR must step up as economy takes a tumble

11/10/2008

As the impact of the global economic crisis takes hold, a quarter of U.S. employers expect to make layoffs in the next 12 months—if they haven’t already done so. However, most companies are focusing on increased employee communication and smaller cost-saving measures.

State employee benefits cut

10/27/2008

Gov. Jon Corzine signed into law a new benefits package for state employees that raised the retirement age from 60 to 62 and increased the minimum salary workers must earn before being eligible for pension benefits. Now state government employees must earn at least $7,500 per year to qualify for a pension. The previous minimum was $500.