The U.S. Supreme Court ruled Tuesday that the Age Discrimination in Employment
Act, the 1967 law that prohibits discrimination against workers over the age
of 40, doesn't apply when those same workers believe that more-senior colleagues have received preferential treatment.
The country's largesst department store chain, Sears, Roebuck and Co., intends to phase out its pension plan, eliminate most stock options, and reduce bonuses.
Under a Treasury Department proposal that could make it easier for employers
to move to cash-balance pension plans, pensions that are converted to a cash-balance
plan would be required to offer benefits that are at least equal to those of
the traditional plan, for a period of five years after the conversion, Reuters reports.
Total compensation costs for civilian workers rose 1.0 percent from June to September 2003, the Bureau of Labor Statistics of the U.S. Department of Labor reported yesterday.
As the economy continues to inch toward recovery, more employers are targeting
flexible work schedules, telecommuting, and job sharing for reductions, USA
Today reports.
In June 2003, employer costs for employee compensation for civilian workers
in private industry and state and local government in the United States averaged
$24.19 per hour worked, the U.S. Department of Labor's Bureau of Labor Statistics
reported yesterday.
If you've seen the commercials, you may feel you've seen a reflection of yourself.
Bill, George, Cheryl, and Patricia, real-life managers of their respective companies'
benefits, are featured in a recent ad campaign for the benefits services of CIGNA.
Compensation costs for private sector workers rose 0.8 from March to June, after jumping 1.4 percent in the prior quarter. Benefit costs rose 1.3 percent for the June quarter, slowing significantly from the 2.4 percent gain of the previous quarter.
The Employee Benefits Security Administration (EBSA) of the
U.S. Department of Labor has announced the launch of a new interactive Web site
meant to help employees and their families make informed decisions about their
health benefits when facing life and work changes.
