EBN helps you start your week with three important facts, developments or conversations from recent benefits-related events. This week, a retirement savings strategy that morphs from target-date to secured, a legal expert speaks out against overly hopeful managers and the White House plans to push for better sharing and handling of medical records.
1. UTC launches game-changing lifetime-income strategy
United Technologies Corporation says it’s “amongst the first of large employers to implement a lifetime-income solution,” which essentially looks like a target-date fund up until the participant reaches age 48, then the income starts getting secured.
2. Avoid litigation: Don’t use hope as a strategy with workers
“Instead of actually addressing problems when they arise, ineffective managers rely on hope,” writes Chad A. Schultz, co-author of “Manage Your Employees or Get Out of the Way.” A manager who fails to communicate expectations and dissatisfaction properly, he says, risks a wrongful termination suit.
3. Obama to push health-data vendors for easier records sharing
While experts once predicted savings of as much as $81 billion a year from electronic records, U.S. health care spending has continued to increase, partly because of systems that don’t share information, they say.
