Directions newsletter is a monthly publication of the Benefits & HR Consulting operations of Arthur J. Gallagher & Co. The July 2015 issue includes healthcare reform updates, a technical bulletin, webinar information and a variety of benefits and HR news.
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Fox & Lawson CompDoctor article answers this reader’s request for guidance on split dollar life insurance policies.
Another last-ditch effort to bailout Greece and a steep correction in Chinese stocks continued to dominate financial headlines last week. There was news closer to home however, as the Fed minutes from the June meeting were released, expressing some concern over the ability to hit economic growth projections given what is happening overseas. Also earnings season was kicked off as Alcoa reported mixed results, and analysts are expecting many other companies to follow suit by delivering disappointing earnings.
The Department of Labor’s proposed overtime rule changes will effectively double the minimum salary threshold for exempt employees. This Technical Bulletin, co-published with Cozen O’Connor, discusses in more detail the proposed rules and how those proposed rules may impact employers.
The United States Supreme Court recently issued a ruling in a much-watched fiduciary liability case, Tibble v. Edison International. Commentators awaited Tibble with special interest because the Supreme Court granted certiorari on a very broad question – namely, whether the six-year statute of repose in the Employee Retirement Income Security Act of 1974 (“ERISA”) barred imprudent investment claims where the initial investment decision was more than six years prior to the suit.
Steve Mann, Area Vice President, Investment Advisor Representative, Executive Benefits Consulting, writes, “There are many factors that impact the arc of our human capital: education, mentoring, unique experiences, relationships and training, to name a few. There are always a small, select group of employees whose potential human capital is higher than others.” Read more about key employee retirement strategy.
Markets changed direction in the second quarter, most notably in U.S. and German government bonds, Chinese equities, and even U.S. stocks, where the S&P 500 snapped a nine-quarter winning streak.
Nick Davies, Area President, Institutional Investment & Fiduciary Services and Andy Irving, Area Senior Vice President and Area Counsel, Institutional Investment & Fiduciary Services, write, “2014 was characterized by increased volatility in the markets and uncertainty in terms of global growth, interest rates and commodities prices (particularly oil)…” Read more about this topic.
Hazard Communication Standard requires employers to make a chemical inventory list of the hazardous chemicals present in the workplace. The chemicals on these lists are identified with markers to easily find the corresponding safety data sheet (SDS).
This article discusses a recent Review Commission decision, Sec’y of Labor v. Wal-Mart Distrib. Ctr. No. 6016, OSHRC Docket No. 08-1292, 25 OSHC (BNA) 1396 (OSHRC April 27, 2015), outlining when an employer can and cannot conduct or rely upon a “global” hazard assessment for PPE in the workplace as well as when a hazard is significant enough that it requires the use of PPE.