Aflac Promotes Retirement Planning in Multiple, Creative Ways
July 11, 2006—Many companies no longer offer a traditional pension plan to their employees, but Aflac is an exception. The insurance company has offered a defined benefit plan since 1983 and continues to do so because it is committed to helping employees plan for the future, says Rena Lane, senior manager, benefits and payroll, for Aflac.
Self-Insurance Market Heats Up, But Is It for You--and Your Employees?
July 05, 2006—The numbers suggest that more companies are taking on the
risk of providing their employees with health insurance—without the security
of purchasing a fully insured insurance product, says Karin Landry of the Spring Consulting Group.
Good Managers, Competitive Benefits are Crucial Elements for Retention
June 23, 2006—You've likely heard the refrain that explains, in a nutshell, the reason why employees leave their employers: "People quit managers, not companies!" This mantra was underscored at a recent BLR audio conference, but an expert also emphasized that the key to improving employee retention and engagement was enacting long-term, sustainable, behavioral change in managers.
Minimize Legal Liabilities Related to Corporate Volunteer Programs
June 20, 2006—Corporate volunteer programs help employers externally by positioning them as good neighbors in their communities and internally by fostering teamwork, improving employee morale, and, in some cases, providing development opportunities. However, such programs can also increase an employer's legal exposure, cautions Attorney David Strand.
Defined Contribution Health Care: Personal, Portable, Permanent
June 13, 2006—When Eddie Curry accepted the position as chief financial officer at cleaning franchisor JanPro, he knew that the company lacked health insurance for its employees. He also realized the importance of offering health insurance as a way of attracting and retaining quality people. Curry explored his options and found a new idea: defined contribution health care.
Seemingly Reasonable Changes May Run Afoul of the 'Salary Basis' Test
June 06, 2006—The Department of Labor recently issued an opinion letter (see FLSA 2006-7) to a lawyer in response to his letter asking whether his client, an employer, would violate the salary basis test if fines were imposed, in the form of deductions from the salaries of exempt employees, for damages to, or loss of, equipment such as laptop computers that the exempt employees used in the performance of their jobs.
What's Been Working on the Railroad for Active-Duty Employees
May 23, 2006—BNSF Railway Company quickly realized that the overwhelming majority of its employees in the National Guard or Reserve make more money on the railroad than on active duty. Recognizing that a cut in pay could be "financially devastating" to employees over a long period of time, BNSF decided to provide "make-whole" pay and benefits to employees during their military service.
Consumerism: It's All in How You Say It
May 23, 2006—In recent years, the drive toward encouraging consumerism in employee healthcare plans has gained strength. As they realize that they must take steps to rein in costs, companies implement health reimbursement accounts, raise deductibles, and utilize any and all of the other cost-shifting techniques being touted by experts.
A New Twist on an Old Favorite: The Roth 401(k)
May 16, 2006—In the ongoing effort to encourage employees to save for their retirements, you've most likely hit them with at least two of the three Rs: Reading , as in great communications, and 'rithmatic, showing them how much they'll accumulate if they start contributing today. We'd like to suggest that you add a third R.
Spanish Enrollments Need More than Translation
May 05, 2006—The problem is not at the enrollment table, where you may have materials
available in Spanish, and even Spanish-speaking enrollers. The problem is
in the days leading up to the enrollment.
