Benefit management

Teach for America - a nonprofit organization that facilitates teaching opportunities in low-income communities for recent college grads - has grown from a small organization since its launch in 1990 with just a few staff members to one that now employs 1,700 people in 43 regions across the United States.

With the movement from traditional paid leave plans to paid time off banks, many employers may wonder if the switch is effective in managing employee absences. Nearly one in five employees in the United States receive leave in the form of a PTO bank, but the contours of such policies are often little understood — especially outside of the human resources community, according to a new study out by the Institute for Women’s Policy Research and CLASP, a nonprofit that works to improve the economic security of low-income families.

At the height of the financial market meltdown in 2008, Leviton — a global manufacturer of electrical wiring equipment — became concerned about employees going into panic mode and either stopping contributions to the company’s 401(k) plan or, even worse, withdrawing money that was already in the plan. It was during that time the company, which has 10,000 employees worldwide, started thinking about auto-enrollment.

During the Great Recession, many companies not only halted hiring, but relocating employees.

Employers are giving employees more flexibility to work from home and work various hours as long as employees get work done, but they’re not willing to pay more for various work-life benefits. This is according to a new study released Monday from the Society for Human Resource Management and the Families and Work Institute.

There were 48.4 million Hispanic people in the U.S. as of 2009, making it the largest ethnicity in the nation. On top of it, Hispanics make up 14.8% of the civilian labor force. Projections suggest that "language minority students" (those who speak a language other than English at home and who have varying levels of proficiency in English) will comprise over 40% of elementary and secondary students by 2030.

As Americans live more of their lives online, perhaps it only makes sense that online recognition has taken off in the corporate context.

Civilian employment costs rose more modestly by 0.4% during the first quarter, primarily because growth in benefits slowed after a sharp rise in last year's fourth quarter, Labor Department data showed last week.

The perception that a connected, mobile workforce can never get away from work is eroding and employers and employees are becoming more comfortable with the advantages mobile technology offers, according to Doug Ring, chief technology officer with Peoplefluent, an HR software and technology company.

Although most Americans still get their health coverage through their jobs, new research from the Employee Benefit Research Institute shows that fewer workers have access to this benefit.

American Airlines kicked off a week-long court hearing on its bid to abandon union contracts, telling a judge on Monday that its bankrupt parent, AMR Corp, cannot survive without major concessions from its labor force.

Employers continue to move from traditional defined benefit pension plans providing monthly payments to 401(k) plans and other defined contribution plans providing lump-sum cash distributions. As a result, increasing numbers of retirees, now including baby boomers leaving the workplace, are faced with managing a cash distribution for 20 or 30 years and possibly running out of funds. Uncertain markets have made plan participants wary of their ability to maintain their nest eggs. …

The American Medical Association estimates that every year, $73 billion is lost in unnecessary health care expenditures due to poor "health literacy," the inability of consumers and employees to obtain and understand health care education.

Lyndsey Allen used to work across the street from Zappos' main office in Henderson, Nev. She'd sit in her cube, watching Zappos staffers stage impromptu parades around the parking lot in themed garb. She was perfectly content at her current job, but wanted something different. For six months, she prowled the Zappos job site and when a recruiter position opened, she pounced. A year-and-a-half later, she conducts phone interviews at a desk in the middle of the Zappos office, where those spontaneous parades now play an important part in her daily work.

Small businesses aren’t known for offering rich retirement plans; workers in firms with fewer than 100 employees are much less likely to have a retirement plan available to them than workers in large firms, according to the Small Business Administration. The financial services industry is making inroads to service small business retirement needs, however, most recently with the Merrill Edge Small Business 401(k) through Bank of America. This retirement solution offers small business owners, who generally have 401(k) plan assets under $250,000, a simplified, easy-to-manage retirement plan with lower costs than many traditional 401(k) plans, enabling small businesses to provide an important benefit to their employees.

For large, self-insured employers, vendor management involves identifying and negotiating better arrangements with third-party vendors who administer benefits. A report from The Advisory Board Company shows that while vendor management is often overlooked by plan sponsors, the process can yield savings of between 5% and 10%.

You may not be hearing it directly from your employees, but most are not happy with the customer service health plans provide. A new research report published by Temkin Group, a consulting firm, rates the customer experience of 206 large companies across 18 industries.

Each January, the IRS updates several revenue procedures that prescribe the process for requesting determination letters for qualified retirement plans. For the most part, these have changed very little from one year to the next, except for increases in user fees charged. This year, the IRS made significant changes, which purportedly are intended to improve its efficiency. To understand why the new guidance involves both good news and bad news for plan sponsors necessitates a…

Health-related applications are among the top three apps employees are most interested in using on their smartphones or tablets. Weather-related apps came in at No. 1, cited by 53.6% of respondents, followed by music (52.9%) and health-related (51.2%).

Today, employee benefit plans - and those responsible for administering and overseeing them - are facing greater scrutiny and more regulations than ever before. With the growth in the number of defined contribution plans, the Department of Labor is paying closer attention to how plan administrators and trustees discharge their legal obligations to prudently monitor plan investments, comply with the plan documents and exercise oversight over third-party vendors.