Headlines about "Work-life issues"
Gathered from the web by the editors at BenefitsLink.com.
Technical Progress, Sorting, and Early Retirement
"Technological progress has been shown to affect early retirement via two opposite forces. On the one hand, it increases real wages and, therefore, creates incentives to delay retirement. On the other hand, it causes an erosion of workers' skills, which raises the probability of early retirement." (Working Papers in Economics, Universitat de Barcelona via SSRN)
Connecting Work/Life Balance to Employee Turnover
"More than one in four employees at organizations not perceived to support work/life balance plan to leave their employers within the next two years, compared to 17 percent of employees who feel supported ... In addition to affecting turnover, the research showed that employees' perceptions on the matter can affect how they feel about their compensation. Among employees in the bottom quartile, 36 percent said they would agree with the statement, 'I believe I am paid fairly for what I do,' compared with 58 percent at the work/life balance-leading organizations." (Human Resource Executive Online)
Yahoo Expands Paid Maternity, Paternity Benefits
"Under Yahoo's new policy, new mothers and fathers can take up to 8 weeks of fully-paid leave. If a woman gave birth to the baby, she is entitled to an additional 8 weeks of paid leave, for a total of 16 weeks paid leave. Yahoo previously did not provide paid leave to fathers and the total amount of paid maternity leave varied from state to state, but was generally six weeks. New parents will now also get up to $500 for expenses such as child care and laundry[.]" (Reuters)
Reinstate Fun, Family Focus to Recruit and Retain
"As employees continue to feel more confident about changing jobs, employers once again are turning to nontraditional and sometimes unique job perks to help them meet their hiring needs and retain star staff members. A new wrinkle with this recovery: These aren't across-the-board, extra benefits to which everyone is entitled. More companies are customizing perks to suit the specific employees they have targeted for retention. Some hold out special benefits as rewards for a job well done." (Business Management Daily; free registration required)
DOL Lawsuit Highlights Simple Reality: Employers Who Ignore FMLA Regulations Face Severe Consequences
"The DOL's FY 2014 budget calls for more resources dedicated for FMLA enforcement, and the DOL's solicitor's office already has indicated we will see an increased number of FMLA lawsuits filed by the government in the time ahead. Moreover, as we see in this case, the DOL will not hesitate to seek a broad range of damages -- even reinstatement -- where appropriate. This reality makes it critical that employers self audit their FMLA policies, practices, and forms to ensure compliance with the FMLA and its regulations." (FMLA Insights)
Rising Work-Life Balance Concerns Tied to Employee Turnover Worldwide
"More than one in four employees (27 percent) at organizations that are not perceived to support work-life balance plan to leave their companies within the next two years ... That's compared to only 17 percent of those at companies that ranked among the top quartile for support of employees in achieving a reasonable balance between work and personal life. For an organization with 10,000 employees, a 10 percentage point reduction in turnover over two years would result in savings of $17.5 million[.]" (Hay Group)
Barriers to Later Retirement: Increases in the Full Retirement Age, Age Discrimination, and the Physical Challenges of Work
"[This study finds that] stronger state age discrimination protections increase employment and hiring for older workers caught by increases in the FRA [and] that physical challenges pose a barrier to extending work lives, although some workers with physically-demanding jobs are able to mitigate these demands -- either at new jobs or with the same employer. However, for the most part stronger age discrimination protections do not appear to contribute to older workers' ability to mitigate physical challenges at work." (University of Michigan Retirement Research Center)
U.S. House Hearing: 'Working Families Flexibility Act of 2013'
Video of subcommittee hearing on April 11, 2013. Includes links to testimony by various interested individuals. (Subcommittee on Workforce Protections, Committee on Education & the Workforce, U.S. House of Representatives)
House Republicans Say New Bill Would Provide Working Families More Flexibility
"The Working Families Flexibility Act of 2013: [1] Allows employers to offer employees a choice between cash wages and comp time for overtime hours worked.... [2] Protects employees by requiring the employer and the employee to complete a written agreement to use comp time ... [3] Retains all existing employee protections in current law, including the 40 hour work week and how overtime compensation is accrued.... [4] Allows employees to accrue up to 160 hours of comp time each year." (U.S. Rep. John Kline, Subcommittee on Heath, Employment, Labor and Pensions, Committee on Education & the Workforce, U.S. Senate)
U.S. Ranks 25 Out of 30 in Amount of Vacation Time Available to Employees
"On average, most Americans receive 10 days of paid time off and enjoy an additional 10 national holidays, such as Memorial Day, Fourth of July, and Labor Day. Of the 30 nations surveyed, ... the global average of annual leave and public entitlement to be 28 days, which is eight more days of additional paid time off than what the average U.S. worker receives." (Wolters Kluwer Law & Business)
Who Uses Out-of-Office Benefits More?
"[O]nly 37 percent of women regularly use employee benefits designed to help them meet demands outside the office, compared to 42 percent of men.... only 38 percent of women regularly use flexible-work arrangements, compared to 42 percent of men.... [O]ne-third of all working Americans (33 percent) say work interfering during personal or family time has a significant impact on their level of work stress and one in four report that job demands interfere with their ability to fulfill family or home responsibilities." (Human Resource Executive Online)
Maybe We Should Retire The Word 'Retire'
"Time was, the official portrait of a retired American included a steady, dependable pension; leisurely mornings puttering about the house in soft slippers -- maybe replacing the chain on the toilet tank ball or knitting a doorknob cozy ... No mas. 'I think the word "retired" needs to be retired,' says financial writer Kerry Hannon[.]" (National Public Radio)
Recruitment and Retention of Older Workers: Considerations for Employers
"This brief presents the motivational factors that drove companies to focus on older workers, the cultural contexts of businesses that have undertaken these practices, and the range of recruitment and retention practices and initiatives they used. Researchers offer suggestions to employers on the relevance of the findings to their own workplace practices, initiatives, and cultures." (National Center on Workforce Development/Adult)
Recruitment and Retention of Older Workers: Application to People with Disabilities
"This brief identifies strategies that can benefit both older workers and workers with disabilities. It describes each strategy that companies discussed in relation to older workers and makes a case for its effectiveness in employing workers with disabilities, offering action steps employers can take. The brief ends with recommendations for the disability community to better support businesses to employ people with disabilities. Including these practices in business operations will position employers to become more reflective of their diverse communities and the customers they strive to serve." (National Center on Workforce Development/Adult)
In 2012, for Every Person Aged 65 or Older, There Were Four People of Working Age in the EU27
"The old age dependency ratio in the EU27 increased from 21.1% in 1992 to 26.8% to 2012. During this period, the ratio rose in all Member States, except Ireland ... As a result, the total age dependency ratio in the EU27 grew slightly over the last two decades, from 49.5% in 1992 to 50.2% in 2012, meaning there are around two persons of working age for each dependent person. In the Member States, the total age dependency ratio in 2012 ranged from 39% in Slovakia to 56% in France and 55% in Sweden." (Eurostat via Perspective PensionSurveys)
Tackling Concerns of Independent Contractors in the Workforce
"[T]he Freelancers Union is one of the nation's fastest-growing labor organizations, with more than 200,000 members ... [It] doesn't bargain with employers, but it does address what is by far these workers' No. 1 concern, by providing them with affordable health insurance.... [M]any freelancers ... would rather have regular jobs, but companies will often hire them only as independent contractors. Companies find these workers less painful to dismiss and generally less costly because they rarely receive severance pay or benefits like health insurance or paid vacations." (The New York Times)
California Pregnancy Leave Is Supplemental to General Disability Rights (PDF)
"[W]here an employee has exhausted her leave under the [California Pregnancy Disability Leave Law] but remains disabled, the employer must still meet its obligation ... to accommodate any physical or mental disability of the employee -- including engaging in an interactive process in order to determine the availability and nature of any such accommodations. The employer need not furnish any such accommodation ... that would produce undue hardship to its operation. However, the availability of an undue hardship defense may be limited, since accommodations of pregnancy-related disabilities are likely to be of relatively short duration." (Schiff Hardin LLP)
Banning Work-from-Home Programs Not a One-Size-Fits-All Decision
"[F]ive questions employers should consider when evaluating their virtual work programs: [1] To what extent does the organization's strategy emphasize collaboration and innovation, and what tools does it have to encourage and enhance collaboration for those working virtually? ... [2] Are formal guidelines in place to help managers and employees evaluate whether a virtual work arrangement is appropriate for the role/employee, or are arrangements offered on an ad hoc basis? [3] How does offering a virtual work program impact employee attraction, engagement and retention, especially with high performing employees? What effect would eliminating this policy have? [4] Does the organization have managers who can successfully manage their teams, whether employees are working in or out of the office? [5] Are there tools in place to assess the effectiveness of virtual work, such as performance, engagement, retention, teamwork and cost/savings impact?" (Aon Hewitt)
Employers Slowly Enrich Programs for Older Workers
"To employers, ... older workers increasingly represent serious bottom-line expense and profitability issues. These financial issues may translate seniors' lifestyle aspirations into some impersonal statistics. But in terms of changing workplace programs and perceptions, dollars and cents may also drive change more quickly and effectively than any set of 'feel good' motivations." (U.S.News and World Report)
Michigan Bill Strikes at Paid Sick Leave Requirements
"Imagine owning a restaurant, a utility or any type of business that has locations in more than one municipality in Michigan -- and being forced to offer employees unequal amounts of paid sick time, depending on where each is located. Aside from the added benefits some employees would have over others, it could become what one Michigan Chamber of Commerce member called an administrative nightmare, and Republicans in Lansing are taking a pre-emptive strike at it right now." (Crain's Detroit Business)
[Guidance Overview] Portland, Ore. Requires Employers to Provide Paid Sick Leave Starting in 2014 to Employees Who Work in City
"Key aspects of the Portland ordinance include: [1] Employers with a minimum of six employees must provide paid leave ... Small employers -- those with a maximum of five employees -- must also provide sick time, but it may be unpaid. [2] Employees must receive a minimum of one hour of paid (or unpaid for small employers) sick time for every 30 hours of work performed.... The accrual is based on hours worked within the City of Portland. This includes employees not regularly employed in Portland but who occasionally perform services in Portland." (Davis Wright Tremaine LLP)
[Guidance Overview] Portland, Ore. Mandates Employer-Provided Sick Leave
"The new sick leave entitlements apply to all private-sector employers, regardless of location of the employer's primary place of business. The law goes into effect January 1, 2014. Under the leave law, private employers with at least six employees will be required to provide qualifying employees up to 40 hours of paid sick leave per year. Employers with fewer than six employees still must provide up to 40 hours of unpaid sick leave per year." (Jackson Lewis LLP)
Momentum Increases for Paid Sick Leave Laws
"Portland joins San Francisco, Milwaukee, Seattle and Long Beach, California, as well as the state of Connecticut, with enacted paid sick leave laws. New York City is expected to hold a hearing on a paid sick leave initiative on March 22. Earlier this year, bills providing paid sick leave have passed committees in both houses in Washington State; similar measures have been introduced in Vermont, Maryland and Philadelphia." (Leonard Street and Deinard)
Most Investment Clients Don't Want 'Vacation Retirements'
"Financial advisors should help clients plan to continue working after age 65 rather than for a 'vacation retirement,' says industry coach Mitch Anthony.... 'Retirement is an artificial finish line,' Anthony stressed. 'Somebody decided that at this age, you're done. Is there anyone ... who would like to tell yourself when you're done rather than have someone else tell you?'" (Financial Advisor)
How Alzheimer's Will Change Your Workplace
"According to the Alzheimer's Association, more than 5 million seniors in the U.S. have Alzheimer's, a figure that is expected to balloon to 6.7 million by 2025. That sets the stage for a shift in America's workplaces, forcing employers to find new ways to accommodate employees who need to care for loved ones." (U.S.News & World Report)
Bridging the Generation Gap in Professional Services (PDF)
"Work/life balance is very important to Gen Xers and millennials, especially after seeing their parents work long hours away from home.... Acknowledging that generation gaps exist is the first step in bridging that gap.... Structured brainstorming sessions centered around education will point out to management that different employees have different training needs, and some of those needs are generational." (Lane Gorman Trubitt PLLC)
Employees Willing to Pay for a Range of Voluntary Benefits
"With benefit costs outpacing inflation in many countries and employers unable to pass along these costs to employees, voluntary benefits represent an attractive option for employers who wish to reign in expenses while maintaining broad benefit offerings. Employees pay for these benefits, but often at discounted prices and with less underwriting compared to the same products in the open market. Mercer's Making Smart Benefit Choices Survey, conducted in 10 markets, shows which benefits employees would be most willing to pay for themselves." (Mercer)
Reversing Precedent, Pennsylvania High Court Rules Voluntary Early Retirees Entitled to Unemployment Benefits
"Overruling more than 30 years of precedent, the Pennsylvania Supreme Court has ruled that the 'voluntary layoff' provision of the Pennsylvania Unemployment Compensation Law permits employees to receive unemployment compensation benefits when they accept an early retirement incentive offered as part of a reduction in force. Earlier case law held that employees who received early retirement incentives in a reduction in force were not eligible to receive unemployment compensation." [Diehl v. Unemployment Compensation Bd. of Rev., No. 51 MAP 2011 (Pa. Dec. 28, 2012).] (Jackson Lewis LLP)
Five Ways Older Workers Benefit a Business
"Lots of people think a mature employee will bring higher benefits costs. This is simply not true. In most cases, mature employees have few or no dependents to cover on their insurance. With Medicare eligibility beginning at age 65, these employees may even have their own insurance and choose not to participate in the company's benefits plan. Depending on your company's policies, an older worker may not even require benefits coverage; in my experience, many mature employees prefer to work on a project basis or part time instead of full time." (Inc.)
Measures of Retirement Benefit Adequacy: Which, Why, for Whom, and How Much? (PDF)
"Key findings include: [1] Many of the next generation of retirees are facing a big drop in their standard of living when they retire.... [2] [T]here is a 29% chance median households will have positive wealth at death.... [3] Individuals need to be aware that attempts to over-simplify the retirement planning process can be very dangerous if used for personal decision making. [4] The most appropriate measure of retirement benefit adequacy depends on the stakeholder: plan sponsor/employer; financial planner/individual; public policymaker; or financial institution. [5] While it is much easier to plan for expected events, so-called 'shock events' must be taken into consideration since they are more likely to derail an individual's retirement plan, especially at lower income levels. For the median income individual, shocks are the biggest driver of asset depletion." (Society of Actuaries)
How Will Older People's Participation in the Labor Force Be Affected by the Coming Increase in the Full Retirement Age for Social Security?
"CBO expects that the share of older people who work will increase in the latter part of this decade in response to the scheduled increase in the full retirement age (FRA) for Social Security. As a result, economic output will be slightly greater and budget deficits slightly smaller than would otherwise be the case.... CBO expects that the effect of increasing the FRA from age 66 to age 67 will be similar to the effect of increasing it from age 65 to age 66." (Congressional Budget Office)
[Opinion] Prevent Debt in Future by Making Changes to Social Security Now
"As more boomers retire, Social Security will add increasingly to debt. By about 2033, the credits will be exhausted and benefits will have to be cut sharply. Because workers retiring in 2033 are already working and should plan for their retirement, we owe it to them to phase the necessary changes in gradually and avoid the sharp drop." (Brookings)
Why Is Age 65 Still a Retirement Peak Despite New Minimum of Age 66 for Full Social Security Benefit?
"When Social Security's Full Retirement Age (FRA) increased to age 66 for recent retirees, the peak retirement age increased with it. However, a large share of people continue to claim their Social Security benefits at age 65. This paper explores two potential explanations for the 'stickiness' of age 65 as a claiming age: Medicare eligibility and workers' lack of knowledge about their future Social Security benefits." (Center for Retirement Research at Boston College)
California Issues Amended Pregnancy Regulations, Extends Protections to 'Perceived' Pregnancy
"Amendments to California's pregnancy anti-discrimination regulations will extend coverage to 'perceived pregnancy,' defined as 'being regarded or treated by an employer or other covered entity as being pregnant or having a related medical condition.' With no additional guidance as to who is included in this protected class (which may include those who are not pregnant, but, because of a perception that they are, suffer adverse employment actions), it remains to be seen how the Department of Fair Employment and Housing Fair Employment and Housing Commission or California courts will interpret this term." (Jackson Lewis LLP)
Tax Elasticity of Labor Earnings for Older Individuals
"This paper studies the impact of income and payroll taxes on intensive and extensive labor supply decisions for workers ages 55-74 ... [The] estimates suggest that an age-targeted tax reform that eliminates payroll taxes for older workers would decrease the percentage of workers dropping out of the labor force by 1 percentage point, a 4% decrease." (Case Western Reserve University Research Paper Series in Legal Studies)
Lifetime Income, Longevity and Social Security Progressivity
"Between 1970 and 2009, life expectancy for men at the age of 65 rose about 32 percent in counties around the 10th percentile, or low end, of lifetime income distribution. In contrast, life expectancy for men at the age of 65 rose about 43 percent in counties around the 90th percentile, or high end, of lifetime income distribution. Thus, by 2009, men in high income counties lived 1.1 years longer on average than the men in low income counties." (National Center for Policy Analysis)
Mercer Workplace Survey, 2012
"Facing an unconvincing economic recovery, workers are nonetheless extending their new commitment to retirement savings both inside and outside their workplace retirement plans. 401(k) and other retirement savings are on the way up again. Feeling vulnerable and out of time, older workers especially are funding their 401(k)s more generously.... Participants are also finding the overall benefits landscape more difficult to navigate this year than last with perceived complexity up and quality of information down, a striking reversal of historic experience. At the same time, this insured population of workers is ever more skeptical of national health care reform and what it will mean to them and their personal circumstances." (Mercer)
Obama Administation Regs Fill in Health Law Details
"The new rules issued by the Health and Human Services Administration spell out how a centerpiece of the law -- its requirement that insurers cover even sick or old applicants -- will work. They also sketch out what minimum package of benefits must be included in health plans sold on state exchanges.... A rule on health insurance market reforms spells out how the health law's "guaranteed issue" and "community rating" requirements will work in practice. Those rules ban insurer discrimination against customers with pre-existing health problems and limit how much insurers can vary premium prices on the basis of age, tobacco use, family size and geography." (NationalJournal)
[Official Guidance] Text of Proposed Regs on HIPAA and ACA Standards Applicable to Wellness Programs (PDF)
"[B]ecause the Departments believe that the provisions of these proposed regulations would be authorized under either HIPAA or the Affordable Care Act, the Departments are proposing in this rulemaking to apply the same set of standards to both grandfathered and non-grandfathered health plans ... Like the 2006 regulations, these proposed regulations would continue to limit the total amount of the reward for health-contingent wellness programs with respect to a plan, whether offered alone or coupled with the reward for other health-contingent wellness programs." (Employee Benefits Security Administration, Internal Revenue Service, Department of Health and Human Services)
Middle-Aged Americans View Retirement as Old School
"More than half (55%) of Americans age 53-65 say they plan to continue working full-time as long as their health permits, up from 51% last year. And among full-time workers over 65, 46% plan to continue working full-time and 41% at least part-time[.]" (Financial Planning)
Employee Benefits in the Aftermath of Hurricane Sandy (PDF)
Topics include: Ways to help affected employees; Relief from benefit plan filing deadlines; ERISA plan funding requirements; and Wish List for additional relief. (Buck Consultants)
Many Adults Caring for Elderly Parents Say They'll Tap Retirement Savings to Help Their Parents Financially (PDF)
"Many Americans are behind when it comes to saving for retirement, and caregivers are no exception.... The majority of caregivers in this survey (84%) were over the age of 45.... [T]wo-in-five caregivers (43%) felt their parents had not saved enough money for retirement. The majority (65%) felt they were in the same boat as their parents and were not saving enough for their own retirement. And nearly one-third (31%) felt they would have to dip into their own retirement savings to help their parents retire." (eHealth)
Approval of Washington State's Marriage Equality Act and Its Impact on Employee Benefits
"Employers should now assess the impact of the [Washington State] Marriage Equality Act on their employee benefit plans and procedures (which should already have been reviewed and revised to ensure compliance with the 'everything but marriage' law). This advisory revisits the employee benefits compliance issues that arose from 'everything but marriage' and addresses additional benefits issues arising from the Marriage Equality Act." (Davis Wright Tremaine LLP)
Retirement Savings by Baby Boomers Blunt Effectiveness of Federal Reserve Board's Easing
"Federal Reserve officials say they're concerned that retirees like the Rodwicks are blunting the impact of record easing aimed at creating jobs. The reason: Older people are more likely to forgo purchases of houses, cars and other big-ticket items that the Fed is trying to encourage with near-zero interest rates. And their numbers are growing, making the Fed's task ever harder." (Bloomberg)
Boomers Count on Social Security But Say They're Skeptical Over Long-Term
"While more than a third of Baby Boomers said they expect Social Security to be a major source of income in retirement, nearly 40% were not confident that the system will have money to pay benefits throughout their retirement, according to a recent survey ... 'The survey findings point out a big disconnect between what investors say they plan to live on in retirement, and what they actually can count on for that income,' said [a spokesman]." (Financial Planning)
[Official Guidance] Text of Presidential Memorandum Authorizing Emergency Leave Transfer Program for Federal Employees Adversely Affected by Hurricane Sandy
"I hereby direct the Office of Personnel Management (OPM) to establish an emergency leave transfer program, pursuant to 5 U.S.C. 6391. The program will permit employees in the executive and judicial branches, or an agency leave bank established under 5 U.S.C. 6363, to donate unused annual leave for transfer to employees of the same or other agencies (or the judicial branch) who were adversely affected by Hurricane Sandy and who need additional time off for recovery." (The White House)
The Interplay of Wealth, Retirement Decisions, Policy and Economic Shocks
"The decision to retire depends on a number of factors including earnings and health shocks, demographic characteristics, preferences, pensions, and social security.... [I]ncreasing the [eligibility age of retirement] results in sizeable responses to the age of retirement but does not affect health outcomes very much. A 20 percent reduction in wealth induces households to delay retirement by one year, on average, with poor households being relatively unaffected." (University of Michigan Retirement Research Center)
Employee Benefits Under Obama and a Mixed Congress -- Little Legislation Expected, But Heavy on Regs
"[I]t may be possible that Democrats and Republicans agree on a few [health and welfare benefits] issues, such as technical corrections to the ACA, changes to the 'use it or lose it' rule for health flexible spending accounts (FSAs), and repealing the prohibition on reimbursement of over-the-counter drugs from account based health plans.... [T]he EEOC might move forward with much awaited guidance affecting employment law and wellness programs.... [S]everal pieces of [retirement plan] regulatory guidance are anticipated in the next year, including guidance relating to the definition of fiduciary, the lifetime income project, and ERISA Section 4062(e) guidance." (Buck Consultants)
Examining Barriers to Later Retirement: Increases in the Full Retirement Age, Age Discrimination, and Physical Challenges
"[This study addresses] three questions. First, how do age discrimination protections affect the labor market transitions of workers directly affected by increases in the [full retirement age]? Second, how do physical challenges at work influence the employment transitions of older workers for whom public policy is trying to delay retirement? And third, do age discrimination protections influence the ability of older workers facing physical challenges at work to remain employed?" (University of Michigan Retirement Research Center)
Silicon Valley Employers Provide Lavish Perks for Employees
"Say 'employee benefits' and pensions and health care will jump to most people's minds. Maybe life and disability insurance will pop up as well. But employers in Silicon Valley are going way beyond that. They're providing housekeeping, cooking, babysitting and a host of other services as perks for their employees." (Forbes)
France's Baby Boom Retirees Head Back Into Job Market
"A surge in the number of pensioners heading back to work has come about despite a reluctance by President Francois Hollande's Socialist government to pursue new reforms after the fierce 2010 protests that greeted those by his predecessor Nicolas Sarkozy. It also suggests that a system which has produced one of the lowest average retirement ages in the Western world -- 59.1 years compared to more than 64 in EU partner Sweden and 71.5 in Mexico -- is failing to provide many ageing French with the economic security they seek." (Reuters)
Dallas County Commissioners Approve Health Care Stipend for Gay Domestic Partners
"[T]he move ... is estimated to cost taxpayers $100,000 a year ... The policy caps the stipend at the amount the county would pay for a married employee's spouse. It is not available for employees whose partners have access to health care coverage through their own employer. Employees must sign an affidavit that defines the relationship as a domestic partnership and prove that they and their partner have lived and operated a household together for at least six months." (The Dallas Morning News)
Middle Class Americans Teeter on Edge of Retirement Cliff -- More than a Third Could Live At or Near Poverty in Retirement
"Over half of pre-retired Americans (53%) say they are not confident they will have saved enough for the life they want in retirement, up from 42% percent in 2011. One third (30%) of Americans say they will need to 'work until at least 80,' in order to live comfortably in their retirement years, up from 25% a year ago. Yet, 73% of Americans said their employer would not want them to work in their 80s. Similar to 2011, 70% of middle class Americans say they'll work in retirement, with 39% saying they'll work out of financial necessity." (Wells Fargo)
Very Few People Expect to Retire Completely
"A recent BlackRock and Boston Research Group poll of 1,002 workers with retirement accounts at work and 1,035 retirees who previously participated in a 401(k) or similar type of retirement plan found that workers are expecting to pay for and experience retirement in a way that contrasts with the lifestyle of current retirees.... Many current workers plan to stay on the job until their mid or late 60s.... Only 15 percent of current workers envision a retirement that involves not working at all." (U.S. News & World Report)
Retirement No Option for Older Workers in Europe's Crisis
"Between 2000 and 2010, the percentage of those over 55 in employment rose in all 27 EU countries except Portugal and Romania ... The trend appears to have continued most places into 2011[.]" (Bloomberg BusinessWeek)
Paid Sick Days: Cost Turns Out to be Very Small for New York City Businesses
"Proponents of paid sick days legislation say it would provide job and income security, particularly for low-wage workers, and reduce public health risks arising from the spread of illnesses to consumers and vulnerable populations. Opponents argue it would be costly for New York City employers and could lead to job reductions at a time when the city is struggling to increase employment.... The data clearly show that the potential cost is in fact extremely small relative to the total sales of a firm. In addition, available research shows potential savings for employers that provide paid sick days, largely resulting from reduced employee turnover." (Economic Policy Institute)
Could Exchanging Delayed Social Security Benefits for Lump Sums Incentivize Longer Work Careers?
"Social Security benefits are currently provided as a lifelong benefit stream, though some workers would be willing to trade a portion of their annuity streams in exchange for a lump sum amount. This paper ... model[s] the factors that influence how people trade off a Social Security stream for a lump sum, and ... examine[s] the consequences of such tradeoffs for work, retirement, and life cycle wellbeing.... [W]orkers given the chance to receive their delayed retirement credit as a lump sum payment would boost their average retirement age by 1.5 - 2 years." (Pension Research Council, Wharton School of the University of Pennsylvania; free registration required)
Absence Policies and Leave Administration Lack Rigor
"Even though lost productivity due to unplanned absence is a primary business concern, only one-third of midsized companies (50 to 999 employees) and two-thirds of large companies (1,000-plus employees) are evaluating the impact of absenteeism on productivity[.]" (Thompson SmartHR Manager)
Time Off for Voting: State-by-State
"The 2012 elections are just less than a month away. Many states allow employees to take time off, sometimes with pay, so that they can vote. The chart [at the link] provides a general overview of each state's law as to time off, pay, and what, if any, advance notice is required before taking time off to vote." (Vorys, Sater, Seymour and Pease LLP)
Seventh Circuit Holds Internal Grievances About Employer Fiduciary Duty Breaches Are Actionable Under ERISA Sec. 510
"Concluding that the language of Section 510 of ERISA was 'ambiguous' and 'a mess of unpunctuated conjunctions and prepositions,' the Seventh Circuit concluded that, 'an employee's grievance is within Section 510's scope whether or not the employer solicited information.' The court did, however, reiterate the high threshold to prevail on a Section 510 claim: 'It does not mean that Section 510 covers trivial bellyaches -- the statute requires the retaliation to be "because" of a protected activity.... What's more, the grievance must be a plausible one, though not necessarily one on which the employee is correct.'" (Drinker Biddle)
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