Facebook, Others Scale Back 401(k)s

It’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

More 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?

A 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 …

Pensions Under Attack, AARP Fights Back

The financial security of many older Americans could be at risk under a proposed law that was the focus of a hearing this week on Capitol Hill. Under the proposed plan, millions of retirees could see cuts to the benefits they’ve earned through a lifetime of hard work. At issue is a proposal by multi-employer pension plans (plans in which many employers contribute to a common fund to cover their mobile workforce) devised to save the plans from insolvency.  That …

Saving Jobs in Hard Times

Is there a way to protect some workers – younger as well as older – from job loss during economic downturns? Some might be helped during the next recession if more employers have access to and use what is known as short-time compensation or work sharing. Work sharing is exactly what it sounds like – the sharing or spreading around of the available work when times are tough. Work sharing is not to be confused with job sharing, which is …

Looking for Work? Check Out ‘Best Employers’ Winners

The following is a guest post by Debbie Banda. Would you leave your employer for a job with greater flexibility and more benefits? And would it help to know that your prospective new employer actually valued older workers? If so, take a look at openings at the winners of AARP’s Best Employers for Workers Over 50 award, co-sponsored by the Society for Human Resource Management (SHRM). This article points out some key elements of what attracts workers and makes them …