Expect a slight increase in hiring for accounting and finance departments in the final quarter of 2010, according to the Robert Half Financial Hiring Index, released Tuesday. Eight percent of chief financial officers (CFOs) surveyed are planning to hire full-time accounting and finance staff, while 7% said they plan to reduce staff. The 1% net […]
Trouble is brewing with many U.S. pension plans. Corporate pension plans are falling behind on payouts to retirees in the midst of a slowing economy and the lowest bond yields on record. The gap between the assets of the 100 largest company pensions and their projected liabilities ballooned to a deficit of $459.8 billion, an […]
While most employers (94%) typically raise workers’ pay after a promotion, only 11% of businesses are awarding cost-of-living adjustments, according to a recent survey. WorldatWork gathered data from 1,381 employers between June 6 and July 2, 2010, asking various questions about pay raises and salary adjustments, for its Compensation Programs and Practices report. It revealed […]
Canada should consider a drastic overhaul to its healthcare system in order to ward off a potential crisis, the Organization for Economic Co-operation and Development warned in a report on Monday. The Paris-based think-tank released its September 2010 economic survey of Canada, highlighting a number of concerns, including the rising household debt-to-income ratios, overpriced homes […]
A committee representing 20,000 Nortel retirees is lobbying the Ontario government to save their beleaguered retirement plan from mandatory liquidation by the end of September. Nortel Networks Corp.’s pension plan members are asking the province to accept a new proposal that allows the private sector to take over the management of the money. The committee […]
A group of former Chrysler and Daimler Chrysler workers have filed a lawsuit against Daimler AG and Cerberus Capital Management LLP, over lost pensions. The lawsuit represents more than 450 formers employees and managers who lost pensions during the auto manufacturer’s reorganization and bankruptcy last year, according to a report in the Detroit News. They […]
The Ontario Teachers’ Pension Plan (Teachers’) announced Friday it has sold its 25% share in CTVglobemedia Inc. in a $1.5-billion deal. The sale positions Teachers’ Private Capital—the pension plan’s private investment department—to continue its active pursuit of further global investment opportunities for its telecom, media and technology portfolio, said Neil Petroff, Teachers’ executive vice-president and […]
Employers looking to reduce their risk when it comes to benefits plans should consider voluntary options, said Robyn Gray, a consultant for Strata Benefits Consulting Inc. During a webinar organized by Benefits Canada, experts in the field discussed the merits of shifting the design of programs to include more employee-pay-all benefits. “Any employer looking to […]
The shift away from defined benefit plans hasn’t hit the Canadian public sector yet, with most (86%) public employers continuing to offer retirement plans providing guaranteed payouts, according to a new study from the International Foundation of Employee Benefit Plans. The report surveyed 1,315 participants from corporations, professional service firms, public employers and multi-employer benefits […]
The new healthcare reform law in the U.S. is creating a dilemma for many employers—who face the choice of changing to comply, allowing their plans to be “grandfathered”, or opting for the status quo. But those who choose the latter could miss out on several cost-sharing opportunities. A new Mercer survey of 1,100 employers found […]