A federal judge has dismissed a lawsuit alleging American International Group underreported workers’ compensation premiums over several decades in order to underpay residual market assessments.
Meanwhile, hedge fund managers could see declines of 20 to 30 percent in incentive compensation, reflecting the impact on performance fees of funds being below their high-water marks.
The Hartford Financial Services Group will refund or credit $48.2 million to Florida employers for ‘excess profit’ earned on workers’ compensation policies
Temporary job losses as a percentage of total job losses were 8 percent in July. Internal employment in direct hire was down 9.2 percent year over year in July and internal employment in executive search was down 12.9 percent year over year.
It is the first decline in five years, but companies are still willing to pay significant sums for directors with specialized expertise.
The challenge for HR and compensation professionals will be to figure out how to define risk and structure compensation in a way that makes sense, experts say.
The agreements with GM and Chrysler also limit overtime pay and supplemental unemployment, the sources say. Detroit Three and UAW officials are keeping mum until workers have an opportunity to vote on the provisions.
In many cases, the terminated employee may be paid commissions earned for the month of termination and not beyond.
For supervisors, managers, salespeople and others.