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No one would argue that when the Supreme Court ruled in Tibble v Edison that plan fiduciaries had “an ongoing duty to monitor plan investments” it was a game changer. Now, for the first time, there was direction (from the highest Court in the land) that a “set it and forget it” mentality when it came to a 401(k) plan’s fund lineup was not sufficient. But, many of you will recall, that was not the end of the story. After making its ground breaking ruling the Supreme Court remanded the case back to the 9th Circuit. The 9th Circuit had previously ruled that mutual funds added to Edison’s lineup back in 1999, were beyond the reach of...
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One in five adults experiences a diagnosable mental disorder in any given year. That’s the equivalent of 45.6 million people. A large proportion of them are in the workforce, leading to more than $60 billion in lost productivity annually. Clearly, mental illness is more than a public health issue—it’s a business issue. You can do the math to estimate the impact to the business in which you work. If 20 percent of adults are experiencing a mental health disorder in any given year, how many employees does that equate to in your company? If those employees aren’t seeking help for their conditions, what is the potential impact to them, their co-workers, the...
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10,000 baby boomers turn 65 every day. This is expected to continue for the next 17 years. Their retirement years will not resemble that of the generation that preceded them, the greatest generation. Most of the information disseminated by the media about retirement has focused on saving for retirement and the inherent risks of not saving enough. Those risks are easy to see. But what about when you actually retire and start to draw down your nest egg? There are risks that we face after we retire which are unique and for which many of us are unprepared. Some of those risks are: Longevity – A husband and wife are both 65....
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We all know that crime does not pay. But I always thought that no matter what crime you committed, that an individual’s retirement plan accounts were pretty much bullet proof. That the assets would be judgement proof as long as they remained within the retirement plan or had been rolled over into an IRA. On the face of it, after reading about this recent civil judgement, it seems that might no longer be true. But there are some important facts that are specific to this case which need to be taken into account. A Montgomery County Court of Common Pleas judge recently ruled that the estate of Ellen Gregory, who was killed by Rafael...
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Most of us have experienced some aspect of diversity in our everyday lives, so what makes it so complex? The answer lies in our different interpretations of the concept. We all have conscious and unconscious biases that affect our decisions about others. In speaking with diversity champion, Joe Gerstandt , I asked what people don’t know about diversity. Here’s a few of my favorite takeaways from our conversation: “Most people don’t think about difference.” Diversity doesn’t refer to any single thing like faith, gender or affirmative action. It extends beyond ethnicity, religion, or race. Even our smallest differences affect the human experience....
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I work for a non-profit mental health organization. Our current pay structure goes like this. The initial 90 day of training and on boarding the new employee is paid an hourly rate. During this 90 days they are building their case loads. At the end of the 90 days when they have established their full case load of clients, they are then switched to a pay per visit rate which coincides with our reimbursement rates. Some of the staff does only Pay per visit and they make out quite well. Other staff has additional administrative time that they need to complete (which they will get paid by their hourly rate) and their required pay per visit clients....
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How much time have you and your advisor spent on your 401(k) plan’s “ultra-safe” instrument, its money market fund? If you are like most of us, the answer is probably none. But the times, they are a changin’. Money market funds are mutual funds that invest in short-term debt. About 47% of defined contribution plans offered money funds or some other cash equivalent in 2014 (Source – Data gathered by the Plan Sponsor Council of America). It is viewed by most participants as the ultimate safe investment. Their thinking is simple: it is a safe haven for my money. It may not go up by very much (it won’t) but it won’t go down. And it becomes...
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Workplace Bullying

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I am currently a student At The New England College of Business and I am pursing my Master's Degree in Human Resource Management. The course that I am currently taking is Employee and Labor Relations. I am doing some individual research for the course on workplace bullying. I was wondering anyone could shed some light on this topic for me. What types of policies do companies have in place to deal with bullying in the workplace? What types of actions are considered to be bullying? How does it compare to other types of harassment in the workplace, is it considered the same topic or a different category on it's own? Who does it effect? What can an employer watch...
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Do Beneficiary Designation Forms Matter? And Whose Responsibility Is It To Keep Them Up To Date? Does keeping your beneficiary designation up to date matter? And should your retirement plan have a clear procedure as to how a beneficiary form should be modified? The short answers are yes and yes. You see, the beneficiary designation is the ultimate arbiter in deciding to whom a participant’s death benefit should be paid to. It trumps your will and any other non-plan related documents that a participant may have completed. It certainly trumps any verbal agreements that a participant may have engaged in. People’s family...
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Welcome to my birthplace! I was born in DC, (the few, the proud) and grew up in and around the DC Metro area. Now am working at SHRM, OUR professional organization (I AM an HR professional). Let’s get beyond the glamour of SHRM, … you are now in the Nation’s Capital !!!!!!,– NOW, we’re talking HISTORY, GLAMOUR, SCANDAL, SECRETS, HOPE! . Please don’t pay attention to the cutaways or “flashback” from Scandal. Those clips of Huck were NOT filmed in any of our Metro Stations. Now, whether or not Zoe from House of Cards was pushed onto a Metro or MARC/VRE line …. I’m not to say (I may or may not know some of the writers). However … IF you have the...
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NorthPark Community Credit Union's volunteer Board of Directors has an opening for an Associate Director. This volunteer position will assist the Board of Directors in establishing policy and making decisions that benefit the membership and this volunteer will also serve on the Human Resources Committee. We are seeking to find an individual with a background in Human Resources, supervision of staff, or related management experience. Please contact info@northparkccu.org and provide your resume/written request of interest for this volunteer opportunity. Sincerely, NorthPark Board of Directors
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Do You Have A Proprietary Target Date Fund In Your 401(k) Plan? Do You Know You Might Have An Option You Did Not Have Before? Target Date Funds (TDFs) in 401(k) plans have become ubiquitous. Love them or hate them, they have become the "go to" option for the majority of 401(k) participants. The reason why they are so popular is pretty simple. Despite what have sometimes been herculean efforts at participant driven investment education, many participants are still unfamiliar with terms like asset allocation and diversification. So TDFs provide the "set it and forget it" investment methodology that an overwhelming majority of 401(k) participants...
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In 2006, Congress passed the Pension Protection Act of 2006 (PPA). As a result, every defined contribution plan, other than 403(b) plans, must be completely restated, so that they comply with PPA. The “drop dead” date to sign and date the restated plan is April 30, 2016. So if you sponsor a 401(k) plan, a profit-sharing plan or any other sort of a defined contribution plan, the plan must be restated, signed and dated by that date. If your plan gets audited by the IRS, the very first thing that they will ask you for is a copy of the plan document. That is not the time to be wondering if you ever updated your plan or not. There are basically three types...
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An error is made and an employee’s monthly benefit is overstated. The employee relies on that information and decides to retire, rather than continue working. The error is uncovered. How does this get fixed (if indeed, it gets fixed at all)? When a pension plan overpays an employee’s monthly benefit, many plans believe that as a matter of fiduciary duty, that they are required to seek repayment of those benefits, with interest . In a recent lawsuit (Lebahn v. Owens), the courts agreed, but not necessarily for the reasons that you might think. Back in 2012, Trent Lebahn, a sales manager at a large mid-western insurance company...
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SMC

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Do you think HR's department should use social media as a platform to promote job?
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Do you think that social media can help enhance a company development and create new market?
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What kind of social media policy that your company's have and are you allowed to use social media at work?
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In my Strategic Human Resource Management class this week we are examining how HR uses social media tools in their practices, specifically internal social media platforms. The questions that I have are, what types of platforms can be used and how effective are they? I am also interested in finding out what the specific uses for social media in the HR function would be and how it can benefit the HR department?
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This week in my Strategic Human Resources Management class, we are discussing the advantages and the disadvantages of linking social media to Human Resources. I happened to make mention of our class discussion to my co-workers at the water cooler earlier this week and the topic of discussion quickly moved to social media and the new hiring process. Some of my co-workers feel that social media should not play a role in the new hire process while others feel that it should. Should social media be a determining factor in whether or not an organization should employ a potential employee?
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This week in our course, we are looking into various technologies and how they could benefit the HR department. According to Hunt, comapanies typically conducted performance management, career development, goal setting, compensation and succession management using paper forms, but now cloud technology enables companies to access a variety of integrated, online talent management systems through the web. My questions are, has anyone integrated this into their systems? Has it been successful? Why or why not?
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