Category: Benefits and Compensation

This topic provides guidance on how to handle compensation issues in a way that attracts and retains the best talent and advances the strategic goals of your business. You get news and tips on what’s going on nationally and in the states, and updates on changes in regulations, possible governmental action, and emerging compensation trends.

Mandatory Vacation Might Juice Your Employee Productivity

The past several years have seen employers of all kinds dabbling in nontraditional types of paid leave. One of the more notable offerings has been unlimited vacation time, but research has found that such leave is actually counterproductive—peer pressure prevents most employees from actually taking advantage of it.

trends

Popular New Benefits Reflect Changing Workforce

In the ongoing battle for benefits supremacy, employers are increasingly offering perks that probably never would have even crossed their minds just a decade ago. As with so many changes in the workplace these days, the shift has been prompted by Millennials, who are drawn by more than the bottom-line salary.

benefits

Software Glitch Causes $100K Benefits Shortfall, DOL Says

A recent U.S. Department of Labor (DOL) Wage and Hour Division investigation of Alabama-based government contractor InfoPro Corp. found an unintentional software glitch caused employee health and welfare benefits to be underpaid from July 1, 2015, to September 30, 2016. Division investigators determined that InfoPro owed $126,329 in health and welfare benefits to 84 employees […]

healthcare

HSA Use Grew 23% Between 2016 and 2017, Report Finds

The number of health savings accounts (HSAs) surpassed 21 million, holding about $42.7 billion in assets, according to a research report by Devenir. The investment advisor firm noted that represents a year-over-year increase between June 30, 2016 and June 30, 2017, of 23% for HSA assets and 16% for the accounts.

Pensions

PBGC Reaches New Agreement with Sears

The Pension Benefit Guaranty Corporation (PBGC) and Sears Holdings Corporation have reached a new agreement that will provide, upon closing, approximately $500 million in funding for Sears’ two pension plans, including contributions already made by Sears since August 2017. The pension plans cover about 100,000 participants. Closing on the agreement should occur in about 3 […]