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Retirement

Add some investment advice to 401(k) statements

03/01/2007

t’s not a good idea for employees to invest too big a proportion of their retirement dollars in a single stock—even if it’s your organization’s stock. And the IRS says you have to point that risk out to employees four times a year on quarterly plan statements …

Forcing retirement at age 65 lands AFCO in legal hot water

03/01/2007

Chambersburg-based Alex C. Fergusson Inc. (AFCO) must pay $50,000 to a salesman after forcing him into retirement at age 65 …

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 …