Most organizations run the risk of pay compression. Pay compression is when either a subordinate is paid more than their supervisor, based on regular pay, or a less tenured employee is paid more than the more senior tenured colleague in the same job. (HR News, 2/2013)
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Looking forward, it will be important for public employers to realign their total compensation strategy to compete with the private sector for talent. In turn, there is a need to revisit and transform the financing and design of benefits. (HR News, 2/2013)
AJG and Stradley Ronon Stevens & Young, LLP co-author this paper summarizing the MSP rules & their impact on Catholic dioceses & diocesan priests who are in active service of their dioceses at & after age 65. Fair & objective assessment of issues on health insurance coverage of active priests.
Defined Contribution and Implementation of Private Exchange Helps Company Align its Business and Reward Strategies to What Employees Value
A client experienced double-digit growth in revenue and employees and wanted to review their benefit programs and create more of a link to their overall business and reward strategies. The result was implementing a defined contribution benefit strategy.
Authors Petula Workman & Evan Kraus discuss in their whitepaper that while private exchanges offer numerous benefits, employers should be careful to note that the use of a private exchange does not relieve them of all of their fiduciary obligations.
Early last week, the Fed turned its sights toward the new regulations approved by the Securities and Exchange Commission (SEC) regarding money market funds, namely the ability for such funds to impose withdrawal fees or limit redemptions altogether. The aim of the regulation is to help avoid investors stampeding out of such funds during times of crisis as they did in September 2008 when institutional investors pulled nearly 40% of institutional assets out of the money market fund market. Several economists, however, have warned that such fees will have the opposite effect, potentially giving investors a strong incentive to pull investment from money market funds when they anticipate restrictions or fees being imposed on redemptions.
Technical Bulletin-The Supreme Court Rules on Employer Stock Funds - Fiduciary Responsibility after the Presumption of Prudence
The U.S. Supreme Court made its first ruling applying the fiduciary standards of ERISA to employer stock funds in 401(k) and other defined contribution plans on June 25, 2014. Our Technical Bulletin summarizes the Court’s decision.
It came to light that the SEC had launched a review of alternative mutual fund managers, better known as liquid alternatives. The SEC’s examination is not an investigation based on a belief of wrong doing, but rather seen as a proactive measure. Our Weekly Market Update examines the most recent data.
This issue includes: Affordability Percentages Increased IRS Clarifies Calculation for Determining Applicable Large Employer Status Courts Split on Whether IRS Can Provide Premium Tax Credits Through Federally-Facilitated Marketplaces IRS Releases Draft Forms for Section 6055 and 6056 Reporting FAQ Provides Notice Guidance Following Hobby Lobby Decision Final Rules: Small Employer Tax Credit Questions and Answers for Employers Healthcare Reform FAQs.
There is a saying in trucking that there are only two seasons: Winter and Construction. That would be humorous if it weren’t so true. Fact is that we need construction season to repair the roads we have and build more roads so we can do our jobs more safely and efficiently and we need to give those workers a wide berth so they can do their jobs safely. There is a lot going on in these areas, and most of the time, there is limited space to get through them so SLOW DOWN! What can you do?