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Financial Impact

Wedbush Ordered to Pay $3.5 Million for Reprehensible Failure to Compensate Worker

July 12, 2011
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Financial regulatory panel says the brokerage stiffed a municipal sales trader who was owed years worth of incentive compensation.
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Ford, again, adds $300 million to pension plan

April 26, 2011
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Ford contributed the same amount in the first quarter of 2010 to its automotive division, and the company expects to contribute a total of $1.6 billion to its worldwide pension plans in 2011.
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Labor Department Stiffens Incentive Pay for Flex Workweek Employees

April 15, 2011
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The new regulations, which amend the Fair Labor Standards Act of 1938, will likely lead employers using this method to eliminate all incentive rewards such as commissions, bonuses or prizes, a labor attorney notes.
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Special Report: Creating a Culture of Wellness Helps Companies Tighten Their Belts

April 7, 2011
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To reduce health costs and boost productivity, Blue Shield of California has shaken things up with its ‘Wellvolution’ program. The company redesigned employee cafeterias and added ‘walkstations’ to some cubicles, enabling staffers to work out while they work. Like Blue Shield, some companies are becoming more creative with their wellness strategies.
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Agency Eyes Revamp of All California Employee Pension Programs

March 2, 2011
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The Little Hoover commission recommended a cap of $80,000 to $90,000 in the amount of salary that can be used to calculate an employee’s pension benefit, a ban on retroactive benefit increases, and setting benefit eligibility ages that do not encourage early retirement.
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Auto Company's Pension Plans Funding Level Improves

March 1, 2011
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At year-end 2010, the plans were underfunded by $11.5 billion, a sharp improvement from year-end 2009, when the plans had $16.2 billion in unfunded liabilities, GM disclosed Feb. 24 in reporting its fourth quarter and 2010 financial results.
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Va. State Workers Would Contribute 5% of Pay Under Proposal

December 20, 2010
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State employees have not made contributions since 1983, when the state agreed to cover employee costs in lieu of an employee pay raise, according to a spokeswoman.
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Ultimate Software Group Inc. <i>Optimas Award</i> Winner for Financial Impact

December 3, 2010
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For its ability to hire a galaxy of autonomous stars capable of swiftly helping to increase the company’s competitive advantage, Ultimate Software is the 2010 winner of the Optimas Award for Financial Impact.
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Lobbyist Warns About Potential Health Care Reform Pitfalls

November 12, 2010
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Executive vice president for ACE Group Holdings Inc. says with restrictions, such as the ban on pre-existing condition exclusions, in place, healthy people in some cases would wait until they were sick to buy coverage, resulting in adverse selection and ultimately forcing insurers to significantly boost premiums, she warned.
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Number of Uninsured Adults Climbs

November 11, 2010
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Thirty million adults went without coverage for more than 12 months, up from 28 million in 2008.
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