employers

Pension Plan Tweak May Elude Most

Posted on 04/2/2014 by | Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsThe federal agency that insures private pensions is proposing a rule change that would add greater protection for workers who roll 401(k) money into a traditional pension. Workers for years have been able to transfer money from their employer’s 401(k) to its traditional pension plan to buy themselves a bigger lifetime benefit — if the employer allowed it. The Pension Benefit Guaranty Corporation says its new proposal will remove fear among these workers that the amount they roll over from …

Wal-Mart Charged With Age Discrimination

Posted on 03/28/2014 by | Legal Grounds | Comments

Bulletin TodayIn 2011, Wal-Mart was the talk of the nation when a gender discrimination case against the huge discount store chain went all the way to the U.S. Supreme Court. The plaintiffs in the case lost for procedural reasons, not for anything having to do with their discrimination claims. The accusations of gender discrimination have never been disproved, and several of the plaintiffs in the original case have filed new lawsuits. Fast forward to March 2014, and Wal-Mart’s in the news …

Workers Say Employers Getting Stingy on Pay, Benefits

Posted on 03/26/2014 by | Money and Work | Comments

Bulletin Today | WorkIf the economy’s improving, why do workers say that their employers are getting stingier with pay or benefits, possibly compromising their financial security now and in retirement? In a survey of 5,070 U.S. workers, 76 percent said their company made one change or another in the last two years that weakened their retirement benefits, reduced pay raises, increased out-of-pocket health care costs or premiums, cut back on hours, laid off workers or involved a major restructuring. The survey, conducted by …

Facebook, Others Scale Back 401(k)s

Posted on 02/14/2014 by | Senior Editor, Money Team | Comments

Money & SavingsIt’s bad enough that employers are doing away with traditional pensions and adopting 401(k)s that foist all the investing decisions onto workers, leaving them vulnerable to the vagaries of the market. Now, according to an analysis by Bloomberg, it appears that many big companies have gotten stingier with their 401(k) matching contributions and vesting schedules. These include IBM, Hewlett-Packard Co., Oracle Corp., Caesars Entertainment Corp., JP Morgan Chase & Co., Whole Foods Market Inc.  and Facebook. (Facebook, Bloomberg reports, gave …

More Help On The Way for Long-Term Unemployed

Posted on 01/31/2014 by | Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsMore than 300 companies, including  Apple, Walmart, Boeing and eBay, have pledged to help the long-term unemployed find jobs under a new initiative announced by President Barack Obama  today. CEOs of these companies have agreed to review their recruiting practices to make sure they aren’t unfairly screening out those who have been out of work for many months. The commitment comes from more than 80 of the nation’s largest businesses and hundreds of others, including Bank of America, KPMG LLP and …

MyRA — Thumbs Up or Thumbs Down?

Posted on 01/30/2014 by | Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsA day after President Barack Obama gave the go-ahead for the Treasury Department to create a “starter” savings account, experts are weighing whether it will be worthwhile or just another ignored investment tool. Critics note, for instance, that the so-called myRA will do little to overcome the huge shortfall in retirement savings among so many workers. The conservatively invested accounts, though they won’t lose money, won’t make much of a return, either. And the myRA is voluntary, so it’s unclear …