The Department of Labor’s Bureau of Labor Statistics' report on wages can't be used as tool for micro comparison of how your wages stack up, but it will get you in the ball park on the macro scale. When I say macro that means dividing the universe of wage earners into those who work for state and local government ... [full story]
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Employer costs for employee compensation for civilian workers averaged $28.87 per hour worked in September 2008, the U.S. Department of Labor’s Bureau of Labor Statistics reported on December 10. Wages and salaries, which averaged $20.13, accounted for 69.7 percent of these costs, while benefits, which averaged $8.74, accounted for the remaining 30.3 percent. Employer costs averaged $2.42 for insurance benefits ... [full story]
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Recession-proofing your benefit plans "does not mean seeking solutions to 'switch on' when a recession hits and 'switch off' when the economy recovers, because it's not always clear when recessions begin and end," said George Lane, a principal of HR consultancy Mercer, during a presentation at the 2008 Benefits Forum and Expo held in National Harbor, Md., in late September. ... [full story]
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Congressional investigators demanded Citigroup Inc., Goldman Sachs Group Inc. and seven other banks justify billions of dollars in pay and bonuses after they accepted $125 billion as part of a taxpayer-funded bailout. In letters to the nine firms today, Representative Henry Waxman, chairman of the House Committee on Oversight and Government Reform, said they collectively will pay $108 billion ... [full story]
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Grady Memorial Hospital's board is reviewing compensation and benefits awarded to employees — hoping to better align them with what's offered by competitors. The board's compensation committee met at a specially called executive session on Friday to study retirement, medical and other benefits offered to employees. “What they’re doing, is looking at what the market is for both ... [full story]
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Nation's Largest Benchmark Survey Cites Growth in Consumer Driven Health Plans and Wellness Programs Health care coverage continues to be a huge financial burden to both employers and employees, especially in New Jersey, according to a new Health Plan Survey conducted by United Benefit Advisors (UBA). New Jersey employers pay 27.5% more ($9,344) per employee for health care coverage than ... [full story]
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Grady Memorial Hospital's board is reviewing compensation and benefits awarded to employees — hoping to better align them with what's offered by competitors. The board's compensation committee met at a specially called executive session on Friday to study retirement, medical and other benefits offered to employees. “What they’re doing, is looking at what the market is for both ... [full story]
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Greenhill & Co., Inc. (NYSE: GHL) today reported revenues of $108.7 million and net income of $28.9 million for the quarter ended June 30, 2008. Diluted earnings per share were $1.04 per share for the quarter. The Firm’s second quarter revenues compare with revenues of $140.6 million for the second quarter of 2007, which represents a decrease of $31.9 ... [full story]
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Greenhill & Co., Inc. (NYSE: GHL) today reported revenues of $108.7 million and net income of $28.9 million for the quarter ended June 30, 2008. Diluted earnings per share were $1.04 per share for the quarter. The Firm’s second quarter revenues compare with revenues of $140.6 million for the second quarter of 2007, which represents a decrease of $31.9 ... [full story]
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THE CONTRA COSTA Board of Supervisors is to be commended for its efforts to disclose the total compensation of county employees that will culminate soon with the posting on the Internet of each worker's salary and benefits. It's a model other public agencies should follow. The move is in complete accord with last year's state Supreme Court ruling that ... [full story]
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Many people are concerned with their employee benefits and their estate plans separately, but neglect to consider the two together. That can cause problems, especially when it comes to managing financial affairs after the untimely death of a spouse. Generally, when it comes to employer benefits, the person who receives them in the event of death is determined by ... [full story]
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Hollywood - As officials grapple with closing a $14 million gap in next year's budget, and negotiate contracts with all of the city's unions, one commissioner says now is the time to take a look at employee benefits. "When you look at the salaries, I feel they are more than justified," said Commissioner Beam Furr, who has been decrying ... [full story]
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The U.S. Supreme Court chose not to rule on a case of a widow denied $426,000 in life insurance benefits because federal retirement law does not permit her to seek compensation, according to published reports. The woman, who lives in Houston, wanted the court to rule that her husband’s employer breached its fiduciary duty. Under the Employee Retirement ... [full story]
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Hiding injuries rewards companies WORKING WOUNDED Toronto Star investigation reveals job safety numbers are under-reported, cutting employer costs. Jun 29, 2008 04:30 AM David Bruser Staff Reporter The Toronto Star is investigating workplace injuries, death and illnesses in Ontario. The Star's Andrew Bailey has analyzed data on 650,000 worker injuries and illnesses between 2000 and 2007. ... [full story]
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The United States Chamber of Commerce released its 2008 Analysis of Workers' Compensation Laws, which showed maximum income benefits for disability increased an average of 4.1 percent in the United States over 2007. "This publication confirms that time and again business owners put their employees first, even as the cost to do so continues to rise," said Randel ... [full story]
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One of the most common questions I hear in my personal injury practice is, "I know someone who got hurt at work, can they sue their employer?" Bad news, good news: No, you usually cannot sue your employer, but the Pennsylvania Workers' Compensation Act provides payment of medical bills, lost wages and other compensation in the event that a worker ... [full story]
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Tax documents from the United Way of Central Carolinas reveal the organization's president, Gloria Pace King, received a compensation package totaling $1.2 million over an 18-month period. Her annual compensation of more than $350,000 from July 1, 2006, to June 30, 2007, includes her salary and an annual bonus. The documents show the organization contributed more than $800,000 beginning ... [full story]
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Workers Compensation in Minnesota: Benefits For an Injured Employee If you are injured on the job, there are four main types of workers compensation benefits in Minnesota that you may be entitled to: 1. Minnesota Lost Wages Benefits Wage loss benefits are the most extensive and complicated benefits of Minnesota workers compensation law. If an employee is ... [full story]
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Companies need to more carefully consider older workers as part of their hiring plans – especially since, in a tight economy, each new hire takes on even more importance, according to research by Sirota Survey Intelligence, specialists in attitude research. Research by Sirota (www.sirota.com) confirms that older workers bring a higher level of satisfaction, pride and willingness to go ... [full story]
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Workers Compensation in Minnesota: Benefits For an Injured Employee If you are injured on the job, there are four main types of workers compensation benefits in Minnesota that you may be entitled to: 1. Minnesota Lost Wages Benefits Wage loss benefits are the most extensive and complicated benefits of Minnesota workers compensation law. If an employee is ... [full story]
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Section 409A was added to the Internal Revenue Code of 1986 (Code) by the American Jobs Creation Act of 2004 in reaction to Enron,Tyco, and other corporate excesses. The intent of 409A is to limit the ability of executives to manipulate the payment of their own compensation to the detriment of regular employees and shareholders. However, benefits vested prior to ... [full story]
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The comically complicated PSA (Personal Savings Account) legislation bouncing around Congress will raise taxes, increase investment risk, and expand the size of government. Let's stop applying Band-Aids to spouting arteries. We are looking for a guaranteed retirement benefit program, and organizations capable of providing one. Additionally, we want the new program to reduce taxes, create jobs, boost the economy, cut ... [full story]
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Vocational rehabilitation refers to programs that seek to return disabled or injured individuals to their optimal physical, mental, social, vocational, and economic ability. In a legal sense, vocational rehabilitation is a workers' compensation benefit, which involves programs designed to help workers who have become physically or mentally disabled and who can no longer hold the same jobs they had prior ... [full story]
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Employee benefits in March accounted for 30.8 percent of total compensation in the Middle Atlantic division, which includes Pennsylvania, or $9.39 of the $30.48-per-hour total. The region-by-region range for total employer costs for compensation, meanwhile, ranged from $23.90 per hour in the South to $30.56 in the Northeast, according to the U.S. Bureau of Labor Statistics. Wages and ... [full story]
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The comically complicated PSA (Personal Savings Account) legislation bouncing around Congress will raise taxes, increase investment risk, and expand the size of government. Let's stop applying Band-Aids to spouting arteries. We are looking for a guaranteed retirement benefit program, and organizations capable of providing one. Additionally, we want the new program to reduce taxes, create jobs, boost the economy, cut ... [full story]
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Ohio's unemployment compensation fund will go broke by year's end or early 2009, and the state will likely have to borrow money from the federal government while the Ohio General Assembly figures out how to fix the problem, according to state officials and advocacy organizations for unemployed workers. The Ohio Department of Job & Family Services and Policy Matters ... [full story]
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The National Labor Court ruled that the company had no right to ban the employee from entering the premises. An employee who was summarily fired from his job and banned from entering the premises where he worked to say goodbye to his co-workers has been awarded compensation by the National Labor Court. Dan Ben Zvi was dismissed from ... [full story]
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A company car is an extremely popular "perk" or fringe benefit for company owners and key employees. In the words of Avery E. Neumark, JD, CPA, executive perquisites and fringe benefits "add sparkle" and maximize the benefit/cost ratio. The use of an employer-owned car for personal use is an item of noncash compensation to the employee. The rules ... [full story]
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H.J. Heinz Co. CEO William R. Johnson's compensation nearly doubled to a total of $14.8 million in fiscal 2008, when the food maker introduced new benefits and profits climbed more than 7 percent. Johnson, also the company's chairman and president, earned $1.1 million in salary and nearly $9 million in compensation tied to annual incentives and long-term performance-based rewards, ... [full story]
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Rep. Ron Maurer, R-Grants Pass, wants Oregon state public employees to start paying a share of their health-care benefits to raise money for indigent care. This idea is not going to fly anytime soon in a Legislature controlled by Democrats who work closely with the public employee unions. But it does tell you that this could be a new ... [full story]
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Kraft Foods is one of the largest food businesses in the world with global brands offering high quality consumer products. Kraft offers a challenging and dynamic environment with the opportunity for career growth. Their strategies include growing core brands in all channels, driving productivity, quality and service and building employee and organisational excellence. Joining the HR team will offer you ... [full story]
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A former underwriter who says she was forced to resign after blowing the whistle on fraud at Capital One Financial Corp's (COF.N: Quote, Profile, Research, Stock Buzz) subprime mortgage unit filed a $51 million lawsuit against her former employer on Thursday. According to the suit filed in U.S. District Court in Manhattan, Rachel Steinmetz said she was forced into ... [full story]
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