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RETIREMENT BENEFITS
Battling Recession Jitters
Employers are working with their 401(k) plan providers to address employee concerns about an unsteady economy and keep their focus on the long-term goal of saving for retirement.
Read more about the techniques companies use to keep nervous workers focused on retirement saving.
Also:
Pension and Retirement Benefits: Phased Retirement—Firms Wing It
Is Defined-Contribution Plan Communication and Education Dead?
Commentary: Give Young Workers the Straight Dope on Retirement Savings
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SALES COMPENSATION
When Is Too Much Pay at Risk?
Sales organizations constantly grapple with this question as they try to motivate salespeople without losing sight of other factors. One company found the right balance at 70 percent base pay and 30 percent incentive pay. Here's how it works.
Read more about how this works at Embarq Corp., a $6 billion telecommunications firm.
Also:
Control and Customization
Escape From 'Excel Hell'
CA Restatement a Cautionary Tale on Designing, Monitoring Sales Compensation Programs
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COMMENTARY—CONSUMER TOOLS
Change:healthcare Could Offer the Change We Need
A new online offering may provide consumers with the help they need to navigate today's health care system.
Read more about the gap in health care information that Change:healthcare and other online organizations are trying to address.
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NEWS AND EVENTS
Quick Takes
Not-So-Happy Retirement Day? It seems that most Americans believe that remembering their loved ones' birthdays is more important than remembering how much they need to save for retirement.
Click here to read more.
Climbing Costs: Fidelity Investments' annual forecast for how much it will cost a 65-year-old couple retiring this year to pay for health care is even gloomier than it was last year.
Click
here to read more.
Large-Employer Growth: The number of employers that offer consumer-driven health plans is rising, while the number of workers enrolled in these programs has doubled over the last two years, according to a recent survey of large employers conducted by Watson Wyatt Worldwide and the National Business Group on Health.
Click here to read more.
Changing With the Times: In light of the recent changes in pension law, more companies are making changes to their defined-benefit and defined-contribution plans.
Click here to read more.
Auto-Pilot Doubts: Employees might not be as excited about being automatically enrolled into their 401(k) plans as their employers are, according to a recent study by Principal Financial.
Click here to read more.
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DISCUSSION
Pay in Lieu of Benefits
Posted in the
Benefits & Compensation Forum:
A member writes: "We are trying to convert an agency employee to a permanent employee. He is requesting to be 'hourly W-2.' We explained that the position is exempt and he will not receive overtime pay. He is hoping that we will pay him more since he is not electing benefit coverage, but this is not part of our policy and we have not offered to do this for anyone else. Is there any reason to make him hourly?"
Join the discussion.
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METRICS
Retiree Costs
Required annuity to cover projected out-of-pocket
health care costs, 2010-2040, in 2007 dollars
Medical Costs
Average annual increase in medical costs,
2006-projected 2008
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2006
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2007
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2008
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| France |
5.6%
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6.6%
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7.3%
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| Italy |
5.5
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11.0
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11.3
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| Netherlands |
6.0
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5.2
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6.0
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| Switzerland |
3.8
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7.5
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6.0
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| U.K. |
6.0
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8.0
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8.0
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| Note:
Survey of 85 insurance companies. |
| Source:
Watson Wyatt Worldwide |
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Special Message from Benefit Software
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We understand the difficulties you face when
explaining the total value of employer paid benefits to your employees.
Perhaps you don’t use Total Compensation or Total Reward Statements
or maybe they are out of date. Even if these statements are current
they may lack critical information that employees need to help your
organization control cost and achieve its mission.
Benefit Software, Inc. can help your organization produce affordable, professional quality, high-impact total compensation statements or traditional benefit statements that will help your employees gain a deeper appreciation and understanding of their salary and benefits. You can choose from a number of printed or online statement formats and we customize statements to your specific requirements. For example, you can use Total Rewards Statements to explicitly make the connection between health and wellness programs and the cost of employer subsidized medical premiums.
The end result will be a powerful, personalized educational tool that you can use to help employees understand and appreciate the value of your total cast and deferred compensation and your employer paid benefits.
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