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Compensation & Benefits

Benefits primer: How to stop worrying and love your 401(k) plan

10/15/2010

Admit it. Administering your company’s retirement plan is probably one aspect of the job you wish you could leave behind. But it’s an important one. A retirement plan is a legally binding document that gives enforceable rights to plan participants. Failing to follow plan terms can be a headache—and costly! Fortunately, a few easy steps can help keep your retirement plan on track and in compliance.

The 4 key factors to keep ’em happy & in their seats

10/14/2010

The “at least I have a job” feeling is starting to wear off among employed Americans. After years of taking on new duties at their old pay, many are feeling overworked, underpaid and underpromoted. Two in five of them are seeking new jobs. Here are four key things your employees will look for elsewhere if you’re not providing it:

When is it legal to round pay to nearest 15 minutes?

10/14/2010
Q. We have an hourly employee who consistently arrives late—about seven to 10 minutes each time. Can we cut her pay to the nearest quarter hour? We would, of course, pay her for staying later.

Business and tax provisions in the Small Business Jobs & Credit Act of 2010

10/13/2010

With the economy still struggling and lawmakers looking to take some sort of pro-business action before the November elections, Congress passed the Small Business Jobs Act in September, a $42 billion measure to provide tax breaks and loan assistance to small businesses. President Obama signed the bill on Sept. 27, 2010. Here are the highlights of this legislation that affect businesses:

New rules make it easier to appeal health claim denials

10/13/2010
Regulations released last month by the U.S. Department of Labor guarantee people the right to appeal health insurance claims denials directly to their insurers—and then, if necessary, to an external review board.

The HR I.Q. Test: October ’10

10/13/2010
Test your knowledge of recent trends in employment law, comp & benefits and other HR issues with our monthly mini-quiz …

On eve of flu season, know what FMLA covers

10/12/2010

After last year’s swine flu scare, there’s good reason to worry about the upcoming flu season. A serious outbreak could incapacitate employers operating with lean staffing. Some employees may want to take time off if they suspect they’re coming down with the flu. And at least some of those workers may assume that sick time off will be covered by the FMLA. That’s where things get tricky.

Did child labor penalties just get tougher?

10/12/2010
Q. I heard that the U.S. Department of Labor recently implemented tougher penalties against employers that illegally employ child workers. How have these penalties changed?

What’s the new Illinois minimum wage?

10/12/2010
Q. We’re looking to hire a few new workers. What is the least amount we need to pay them?

How will the new Illinois Family Military Leave Act amendment affect us?

10/12/2010
Q. How does the recent amendment to the Illinois Family Military Leave Act affect employers?