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The Canadian Pensioners Who Own Britain

"In less than ten years, a handful of the country's biggest funds have bought outright or own stakes in some of the UK's most prized infrastructure.... [It] is hard to imagine such a land grab unfolding without dissent if the buyers were perceived to pose any political threat."

A Million Over-65s in Britain Are Still in Work As Pension Crisis Hits Home

"Official job figures on Wednesday showed that nearly one-in-ten 'pensioners' [was] still employed -- 615,000 men and 388,000 women. The total of 1,003,000 is an increase of nearly 100,000 in the past 12 months alone and almost double the levels of a decade ago. Experts said the marked rise was partly down to changing demographics and the fact that many over 65s -- the post war baby boomers -- wanted to stay on in the office. But others said tens of thousands of older workers simply had no choice but to carry on trying to top up their savings given the holes in their pension plans."

European Pension Funds Among Victors As Bank of America Reaches $2.4B Settlement Over Merrill Lynch

"America's second-biggest bank struck a deal with investors to end a near four-year legal battle that was destined for trial in a New York court next month. PGGM, which helps manage 125bn EUR ... in the Netherlands, and AP4, one of Sweden's state pension funds, are among those who had led the litigation in Manhattan."

IRS Wants to Tax Company Stock-Purchase Plans

"The [IRS] is considering applying the 7.65 percent wage tax to many stock-purchase plans. More than 15 million people participate in company stock-purchase plans that permit them to buy shares in their company at a discount -- - usually 15 percent -- - below market price. The IRS proposes to impose the wage tax on the difference between the stock's market price and the discount plan's purchase price."

California City of Vallejo Declared Bankrupt

Excerpt: The fate of Vallejo ... has sent shock waves across the country as scores of other local authorities also struggle to balance the books in the face of slumping incomes. Councillors took the drastic step because falling property tax revenues mean they can no longer pay the generous salaries negotiated for firefighters and police officers during the flush years.

Worcester, Massachusetts, Suspends Contractor Requirements for Health Insurance

[The city manager] is suspending enforcement of ... health insurance provisions in the city's 15-year-old responsible employer ordinance. His action follows a recent federal court decision striking down similar provisions in Fall River's responsible employer ordinance. This means that certain contractors for the city no longer need to ... give workers health insurance.

New Hampshire Senate's Top Republican to Propose Sweeping Changes to State's Retirement System

The changes to benefit levels and employee contributions would affect new employees and those with fewer than 10 years service on public payrolls.

Fifth Circuit: DB Plan Properly Applied 'Banded' Benefit Formula to Commissioned Employees (PDF)

"In answering the first question, i.e., whether the administrator's interpretation of the plan was legally correct, a court must consider: [1] whether the administrator has given the plan a uniform construction, [2] whether the interpretation is consistent with a fair reading of the plan, and [3] any unanticipated costs resulting from different interpretations of the plan." [Gosselink v. American Telephone & Telegraph Inc., No. 00-20887 (5th Cir. Nov. 7, 2001)]

10 Tips for the Leader About Building Employee Motivation and Morale at Work

Excerpt: Other than the decisions individuals make on their own about liking their work, you are the most powerful factor in employee motivation and morale. By your words, your body language, and the expression on your face, as a manager, supervisor, or leader, you telegraph your opinion of their value to the people you employee.

Maximizing Benefits for the Single Employee

"In a 2022 study ... 87% of respondents across all family types agreed or strongly agreed with the statement: 'Working parents have more benefits.' Work culture may also telegraph that flexible working, pay raises, and promotions are more important for employees with children than those without, creating a glass ceiling to career progression."