Sun-Times Media Group, which filed for Chapter 11 bankruptcy protection on March 31, failed to make more than $800,000 in required payments to its five pension plans.
The Pension Benefit Guaranty Corp. has taken over the underfunded pension plan of Nortel Networks Inc., a Nashville, Tennessee-based subsidiary of Canadian telecommunications company Nortel Networks Corp.
Human resources professionals often underestimate how complicated a benefit packet can appear to new employees, particularly if they are young or are recent entrants to the workforce. Here’s basic guidance you can use to inform them about role benefits play in total compensation.
The House Education and Labor Committee began work on its health care measure Thursday morning and toiled until 6 a.m. Friday.
Faced with high fees from hedge funds, poor returns from traditional active managers and sharp declines in their defined-benefit plans’ funded status, corporate executives are looking to squeeze fees, adopt passive strategies and close or freeze their plans.
Gov. M. Jodi Rell last week vetoed legislation that would have required group health insurers to offer wellness programs and give enrollees incentives to participate, as well as beefing up benefits in other areas.
The company is considering freezing its U.K. defined-benefit plan by April 2010, according to an e-mail the company sent to employees. The plan has been closed to new members since 1997.
The nation’s hospitals agreed Wednesday, July 8, to give up $155 billion in future Medicare and Medicaid payments during the next 10 years, with those savings being used to help fund coverage for the uninsured as part of health care reform legislation.
A letter to President Obama is signed by Mike Duke, Wal-Mart CEO and president; Andy Stern, president of the Service Employees International Union; and John Podesta, president and CEO of the Center for American Progress, a left-leaning think tank.
It’s Eye Injury Prevention Month, the Wellness Council of America reminds employers—a good time to ensure that employees are taking the necessary precautions.