August 10, 2012 |
Google has long been known for taking care of its workforce and a new report shows that care continues after an employee's death. The Mountain View, Calif., company reportedly takes care of its employees' families by giving them half of their salary for 10 years after the death of a worker. As if that wasn't nice enough, the benefit also extends beyond salary. Google also gives their employees' spouses stock benefits. Beyond that, Google makes sure employees' children receive checks for $1,000 a month until they turn 19, or 23 if they are full-time students.
June 30, 2012 |
The Supreme Court's endorsement of the federal healthcare law this week could spur more employers across the nation to relinquish their long-standing role as chief healthcare buyer for their workers. This shift has already begun among some big employers shedding their role in providing retiree health benefits, and experts say the court's decision this week could eventually lead companies to pursue a similar approach with current workers. With the Affordable Care Act still on track to offer numerous new benefits, such as guaranteed coverage for all adults starting in 2014, some companies may want to stop providing health coverage and instead give workers money to buy their own. One of the more popular ideas being discussed is to give workers a lump sum, or defined contribution, and then let them use that money to buy their own individual health plan.
CALIFORNIA | LOCAL
June 27, 2012 |
STOCKTON - City managers in Southern California on Wednesday were casting a wary eye on Stockton, the latest city to head to bankruptcy court, but said they were working hard to avoid what one public policy analyst predicted would be a string of municipal failures. Facing spiraling labor costs and debt, the Stockton City Council decided late Tuesday night to seek protection under the U.S. Bankruptcy Code and is expected to file with the court as early as Thursday. The council took additional action to reduce costs but still could not fill a $26-million budget deficit.
CALIFORNIA | LOCAL
June 26, 2012 |
STOCKTON - This Gold Rush-era port city, an epicenter of California's agricultural exports, will become the nation's largest city to seek protection under the U.S. bankruptcy code after its City Council on Tuesday stopped bond payments, slashed employee health and retirement benefits and adopted a day-to-day survival budget. City Manager Bob Deis likened the process to cutting off an arm to save the body. He is expected to file bankruptcy papers immediately. A Delta wind had scrubbed the Central Valley sky blue as residents gathered hours early for the 5:30 p.m. meeting.
CALIFORNIA | LOCAL
October 24, 2011 |
Worried about the prospects of a new round of budget cuts during his last two years in office, Los Angeles Mayor Antonio Villaraigosa has grown increasingly bold - some say too aggressive - in his attempts to influence panels that guide the city's huge retirement funds. Two weeks ago, Villaraigosa warned a seven-member board overseeing pensions for civilian employees that a new round of layoffs would "almost certainly" occur if the panel scales back income projections for its $11-billion portfolio.
March 16, 2011 |
American workers are more downbeat than ever about their prospects for retirement, a new study has found. But that also means they are starting to realize how bad their financial condition is. Confirming the findings of other recent research, a survey by the Employee Benefit Research Institute found workers growing increasingly doubtful about their ability to finance comfortable retirements. The results were released Tuesday. The percentage of workers describing themselves as "not at all comfortable" about their retirement outlook jumped to 27% from 22% a year ago. Only 13% are "very confident.