Sponsors of small group plans continue to face the same challenges: cost, competition and capability. Small plan sponsors want to offer the same kinds of benefits options as their larger counterparts. It can be done, to some extent, as more products and services are now available to them. But for the most part, smaller plans […]
Some Kiwis expect to be working past age 65. According to Mercer’s KiwiSaver Sentiment Study, working New Zealanders expect to retire later than working Australians.The study, which polled 508 New Zealanders, revealed that while 39% of them would prefer to retire before age 60, 65% actually don’t expect to stop working until at least 65. […]
Individuals in 401(k) plans can now sue plan administrators for failing to follow an individual’s investment instructions, according to the latest ruling from the U.S. Supreme Court.In Justice John Paul Stevens’ written decision, the Employee Retirement Income Security Act (ERISA) “does authorize recovery for fiduciary breaches that impair the value of plan assets in a […]
According to Center for Retirement Research (CRR) at Boston College, the number of Americans who aren’t saving enough for retirement has increased because of healthcare costs.The National Retirement Risk Index, released by the CRR, indicated that 61% of workers would be at risk of not being financially prepared to retire. Last July, that index number […]
The government of Prince Edward Island reduced the union oversight committee of its Union of Public Sector Employees (PEIUPSE) pension fund to one member, down from three.Members of the PEIUPSE said it was meant to stop criticism over the CAD$1.2 billion pension plan’s decision to use public private partnerships to fund care homes for the […]
The decrease in defined benefit (DB) pension plans and the rise in defined contribution (DC) plans is creating increasing risk among employees regarding their retirement benefits. According to a recent Conference Board report, it’s unclear whether employer programs will be able to support employees in retirement.Executives who attended the conference indicated that as more companies […]
As the BlackBerry has become an extension of many people’s appendages (in October 2007, Research In Motion reported 10.5 million BlackBerry users worldwide at the end of the second quarter), it seems some employees just can’t turn off work! “For many people, work and life hasn’t really been balanced for a long time,” says Catherine […]
Globally, employers’ medical cost increases are expected to escalate over the next five years, according to a recent survey by Watson Wyatt Worldwide. The consulting firm interviewed 85 insurance companies that provide medical insurance to employers in Asia, Africa, Europe, and North and South America.Almost 71% of respondents expect higher or significantly higher medical cost […]
With U.S. corporate scandals endlessly making the news, the need for better governance is paramount. But how effective is corporate governance in Canada? Nine experts from various disciplines discussed their thoughts at a roundtable today in Toronto.Although the panel agreed that the area of corporate governance has progressed over the years, the consensus was that […]
With recent legislation in Ontario and Nova Scotia allowing dental hygienists to practise independently of dentists, what is the impact on employers, insurers and employees? Mountain View Dental Hygiene sits on a main thoroughfare in Black Diamond, Alta., a small town 30 minutes south of Calgary. The 600-square-foot clinic is painted taupe and has a […]