Oct 30 (Reuters) – Like a lot of companies, Veridian Credit
Union wants its employees to be healthier. In January, the
Waterloo, Iowa-company rolled out a wellness program and
It also gave workers a mandate – quit smoking, curb
obesity, or you’ll be paying higher healthcare costs in 2013.
It doesn’t yet know by how much, but one thing’s for certain -
the unhealthy will pay more.
(Reuters) – New York luxury store owners and real estate agents are wondering whether they have to brace for some of Wall Street’s pain.
With others likely to follow Goldman Sachs’ lead and slash compensation, Wall Street dealmakers, traders and other staff at banks and funds could cut back this holiday season.
NEW YORK (Reuters) – Deteriorating conditions in the pension system are jeopardizing the lump sum payouts workers count on, and pushing some workers to retire ahead of schedule.
Stock market losses began dragging down pension assets a few years ago, but the current near-zero interest rates – intended to spur the American economy – have worsened the problem and created the largest gap in assets and liabilities since the end of World War II. “While low interest rates help people borrow money, they dramatically shoot up the pension obligations of plans,” says Rebecca Davis, an attorney at the Pension Rights Center in Washington.
NEW YORK (Reuters) – While workers can’t do much when a stock market sell-off hits their 401(k) balances, they can speak up about poor investment choices and unreasonable plan fees. Now, more are taking those complaints to the courts as they bring lawsuits against employers they believe have allowed poorly-performing and overly-expensive funds into their retirement plans.
The most recent 401(k) fee lawsuit was filed last week against Ameriprise Financial Inc, which bills itself as “America’s leader in financial planning.” The suit, which was brought on behalf of several employees and is seeking class action status, alleges the financial firm pushed workers into expensive and untested proprietary funds at a cost the lawyers for the employees say is more than $20 million.