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Financial Impact

Search Firm Heidricks Revenue Rises 28 Percent

April 30, 2010
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The number of executive search confirmations rose 26.9 percent in the first quarter compared with the first quarter of 2009.
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Many Plans Fail Health Reform Affordability Test

April 30, 2010
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The likelihood of employers offering unaffordable coverage is inversely related to employer size, with smaller employers having a higher percentage of workers paying more than 9.5 percent of household income.
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Tax-Free Insurance Coverage of Children Bumped Up to Age 27

April 30, 2010
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Many major health insurers already have said they will expand coverage to adult children ahead of the mandate unless employers object. The group includes Aetna Inc., Cigna Corp., Humana Inc., Kaiser Permanente, UnitedHealth Group Inc. and WellPoint Inc. In addition, some self-funded employers are considering amending their plans now.
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Obama Backs Pension Funding Relief With Conditions

April 16, 2010
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Administration wants to ensure that the cash saved by companies through funding relief is put into job creation and preservation—and that cash not needed for those purposes is put into the pension funds before being distributed to shareholders or plowed into pay raises for company executives.
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Jobs Picture Is Suddenly Sunnier in New York as Unemployment Sinks

April 16, 2010
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The securities industry was just about the only sector that exhibited weakness in March, shedding 700 jobs. The losses in securities may be indicative of continued consolidation of some of the big firms, or they could just be severance packages expiring.
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Early Retiree Health Care Claim Forms Ready in June

April 14, 2010
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In its fact sheet, The Department of Health and Human Services says medical, surgical, hospital and prescription costs are eligible for tax-free reimbursement.
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Workers Need More Retirement Advice, Survey Finds

April 14, 2010
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Cooperation between the advice provider and benefits managers would give employers reassurance that the guidance that workers receive is relevant and that the message that’s being delivered is clear.
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Study Taxpayers Owe Teacher Pensions $933 Billion

April 14, 2010
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The stock market would have to nearly double overnight to make up for the present underfunding of the 59 plans, says a new report by the Manhattan Institute.
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IRS Releases Form for Employer Tax Credit

April 8, 2010
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Employers may qualify for an exemption from the 6.2 percent employer’s share of Social Security tax on wages paid to newly hired employees who had been unemployed for at least 60 days or who had worked no more than 40 hours for during that period.
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Chicago-Area Hospital Makes Good on Pledge to Repay Workers for Frozen Wages

April 7, 2010
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Restoring pay lost to a salary freeze or reduction is rare, compensation experts say. Just 4 percent of employers that cut pay during the recession, and 2 percent of those that imposed salary freezes, said they would provide lump-sum payments to make their workers whole.
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