Employers weigh in on obesity
The workplace is the ideal setting to address weight management issues. For example, 80% of employees agree that healthy lifestyles/weight management programs belong in the workplace, according to new research by the Stop Obesity Alliance.
However, the organization reports that less than half of employers believe their company has given enough attention to the problem of obesity.
Other key survey findings include:
■ 67% of employers are concerned about the effects of obesity on medical claims expenses
■ 93% of employers see obesity as a preventable condition and the result of poor lifestyle choices.
The Stop Obesity Alliance Web Site
Related EBN coverage:
Despite national shift, large employers still offer DB plans
Fifty-four percent of Fortune 500 companies continue to offer defined benefit plans to new hires, a 4% decline from 2007, reports Watson Wyatt in a new survey. The rate of decline has leveled off from its 11% peak in 2004 and 2005.
"Thanks in large part to the pension reform legislation, the peak rate of replacing DB plans with defined contribution-only plans appears to be behind us," say Alan Glickstein, a senior retirement consultant at Watson Wyatt. "In fact, as companies evaluate what the new rules mean for them, we could very well see a renewed commitment to hybrid and other DB plans."
Related EBN coverage:
Court upholds disclosure law for employers and unions
The U.S. District Court for the Northern District of Georgia dismissed a lawsuit challenging the Department of Labor's authority to require reports from attorneys who make payments to unions or union officials.
Under the Labor-Management Reporting and Disclosure Act, employers are required to file reports disclosing payments or other things of value to a union or a union officer or employee.
In Warshauer v. Chao, an attorney representing United Transportation Union sued to restrict the department from requiring him to file a Form LM-10 (Employer Report). DOL Press Release
Related EBN coverage:
Hedging retirement assets in a bear market
T. Rowe Price Associates calculated financial data to figure the impact of a bear market on retirement, after the S&P 500 index fell nearly 18% between October and March.
The investment management firm explains that, if the portfolio loses money or returns during a bear market, the chances of running out of money in retirement go up significantly.
"That's because your portfolio is shrinking at the same time you're selling off investments to support yourself. Those investments won't be around to recover when the market eventually does," reports the Baltimore Sun.
Related EBN coverage:
Bill aims to end salary penalty for rehired federal retirees
Officials from the Office of Personnel Management recently testified before the House subcommittee on legislation that would remove a financial penalty for federal retirees who wish to rejoin the government.
The salaries of retirees are reduced by the amount of their pension during their period of re-employment. The Bush administration and some members of Congress have proposed allowing agencies to rehire federal retirees without a salary offset. At present, agencies must ask the OPM for a waiver to bring back a retiree, reports the Washington Post.
Related EBN coverage:
Clarification:
In last week's EBN Industry inBrief, the first sentence in "Slow economy hits younger boomers hard," should have read:
"Nearly 25% of middle-aged people (ages 45-64) prematurely withdrew funds from their 401(k), individual retirement account or other investments due to the current economic downtown, according to a survey by AARP."
The survey included employed and unemployed participants.
