Labor Events and Resources Blog

Beyond the Numbers, April 2013, vol. 2, no. 10

PAY & BENEFITS

Retirement And Medical Benefits: Who Has Both?

By Lindsay B. Kimbro and Michelle B. Mayfield

http://www.bls.gov/opub/btn/volume-2/retirement-and-medical-benefits-who-has-both.htm

or

http://www.bls.gov/opub/btn/volume-2/pdf/retirement-and-medical-benefits-who-has-both.pdf

[full-text, 8 pages]

Employee compensation packages commonly include both wages and benefits. For decades, employee benefits have been used as part of the total compensation package to attract and retain highly qualified workers. Just as workers in various occupations receive different levels of pay, they also receive access to different types and combinations of employee benefits.1 This article uses March 2012 National Compensation Survey (NCS) data to examine private industry workers’ access to medical benefits, retirement benefits, and combinations of the two benefits, by major occupation group, wage category, part-time and full-time status, union and nonunion status, and establishment size.2 The study finds notable differences in the patterns of access to medical and retirement benefits—separately, and in combination—among the various worker groups.

Throughout this analysis, each worker characteristic (wage category, establishment size, etc.) is treated independently. Of course, the workers who make up these data points do not fall neatly into one category; in reality, there is considerable overlap, which adds complexity to the overall picture. Since 1980, the NCS and its predecessor the Employee Benefit Survey (EBS) have published data on the incidence of specific types of employee benefits and many provisions of employer-provided retirement and health plans. In 2009, the NCS published for the first time estimates on the incidence of combinations of benefits among various groups of workers.3 Although the provisions, and value, of the plans themselves can vary widely among these categories of workers, the combined benefits incidence data provide greater insight into the benefits package that workers actually receive than the incidence of specific benefits alone. Major benefits such as medical insurance and retirement plans are not always offered together or to the same workers.

ReBlog:  IWS

Workplace Violence Against Government Employees, 1994-2011 [11 April 2013]

http://www.bjs.gov/index.cfm?ty=pbdetail&iid=4615

or

http://www.bjs.gov/content/pub/pdf/wvage9411.pdf

[full-text, 19 pages]

Presents information on both nonfatal and fatal forms of violence in the workplace against government employees, based on the Bureau of Justice Statistics' National Crime Victimization Survey and the Bureau of Labor Statistics' Census of Fatal Occupational Injuries. This report describes violence against government employees and compares violence in the workplace against government and private-sector employees. It includes information on type of workplace violence, violence by occupation, and victim and crime characteristics, such as sex and race distribution, offender weapon use, police notification, and victim injury.

Highlights:

• In 2011, about 1 in 5 victims of workplace homicide was a government employee.
• From 2002 to 2011, the annual average rate of simple assault in the workplace against government employees (18.9 per 1,000) was more than three times that of private-sector employees (4.6 per 1,000).
• Serious violent crime accounted for a larger percentage of workplace violence against private-sector employees (25%) than government employees (15%).
• From 2002 to 2011, about 96% of workplace violence against government employees was against state, county, and local employees, who made up 81% of the total government workforce.
• Male government employees were more likely than female government employees to face a stranger in an incident of workplace violence from 2002 to 2011.
• From 2002 to 2011, female government employees were more likely than male government employees to be attacked in the workplace by someone with whom they had a work relationship.

ReBlog:  IWS

Employee Benefit Research Institute (EBRI)

Press Release April 10, 2013 #1017

FY 2014 Obama Budget Proposal:

The Impact of a Retirement Savings Account Cap
http://www.ebri.org/pdf/PR-1017.Advise.10Apr13.RetCap.pdf
[full-text, 5 pages]

[excerpt]

WASHINGTON—This week President Obama is expected to unveil his 2014 budget proposal–

and published reports indicate it will include a cap on retirement savings.

In statements released ahead of its official publication, the White House has noted that the

budget will include a new proposal that prohibits individuals from accumulating over $3 million

in Individual Retirement Accounts (IRAs) and other tax-preferred retirement accounts, such as

401(k) plans. How many individuals might be affected by that cap?

In the EBRI IRA database at year-end 2011, approximately 0.03 percent of the approximately

20.6 million accounts had more than $3 million in assets. About 0.06 percent of the total account

holders (some individuals own more than one account), and about 0.11 percent of account

holders who are age 60 or older surpass the threshold. As shown in Figure 1, of the individuals

with IRA balances above $3 million, 37 percent were age 70 or older and another 20 percent

were age 65–69 (50 percent and 26 percent, respectively, for those with known ages in the

database).

Some employment-based retirement accounts, such as 401(k) plans, would be affected as well.

An analysis based on the projected year-end 2012 account balances on all participants in the

EBRI/ICI 401(k) database with account balances at year-end 2011 and contributions in that year

finds that approximately 0.0041 percent of those 401(k) accounts had $3 million or more in

assets by year end 2012.

Impact on Multiple Accounts

Individual savers increasingly find themselves having not only a 401(k), but an IRA as well, and

in many cases multiple savings accounts. Taking into account combined IRA and 401(k)

balances, a review of the integrated EBRI IRA/401(k) database as of year-end 2011 for

individuals age 60 or older who had at least one IRA or 401(k) in 2010 and at least one IRA or

401(k) in 2011 finds that about 0.107 percent of these individuals had balances totaling

$3 million or above.

It should be noted that these numbers are at a particular point in time, based on the most current

data available. Those balances will change over time, and inflation is expected to increase the

level of the cap. The Employee Benefit Research Institute’s Retirement Security Projection

Model (RSPM) allows us to estimate what the potential future impact could be, particularly for

younger workers not currently on the cusp of retirement.

ReBlog:  IWS

Baker & McKenzie

GLOBAL MOBILITY HANDBOOK 2013 [26 February 2013]

http://www.bakermckenzie.com/globalmigration/globalmobility/

or

http://www.bakermckenzie.com/files/Uploads/Documents/Global%20Employment/bk_globalmigration_globalmobilityhandbook2013.pdf

[full-text, 595 pages]

[excerpt]

Introduction

The global movement of employees is essential to multinational

organizations doing business in different countries. Getting the right

people to the right places at the right time with proper support in a

lawful manner is critical to the success of global businesses. Human

resource professionals and corporate counsel are confronted with a

maze of legal issues that must be considered before moving

employees across borders.

When can they go? How long can they stay? What can they do while

there? How can they be paid? What happens to their employment

benefits during the trip? Who will be the employer while abroad?

Which country’s laws will apply? What are the tax consequences to

the employer and the employee? What about accompanying family

members?

These issues confront employers dealing with both short-term

business travelers, as well employees on long-term assignments. This

is a global mobility handbook to help guide you.

ReBlog:  IWS

Baker & McKenzie

Global Labour Relations Law, Issue 1 2013

http://bakerxchange.com/rv/ff000ef33d9202ba63f0a43be44798c111bb178b
or
http://bakerxchange.com/rv/ff000ef33d9202ba63f0a43be44798c111bb178b/p=9

ReBlog:  IWS

Occupational Employment And Wages -- May 2012 [29 March 2013]

http://www.bls.gov/news.release/ocwage.nr0.htm

or

http://www.bls.gov/news.release/pdf/ocwage.pdf

[full-text, 24 pages]

Computer network support specialists, with employment of 167,980 in May 2012, and

nurse practitioners, with employment of 105,780, were 2 of the largest new

occupations in the 2010 Standard Occupational Classification (SOC) system, the

U.S. Bureau of Labor Statistics reported today. These are 2 of 24 newly defined

detailed occupations shown in table A. National employment and wage information

for all occupations in the 2010 SOC is shown in table 1.

The data in this news release are from the Occupational Employment Statistics (OES)

program, which provides employment and wage estimates by area and by industry

for wage and salary workers in 22 major occupational groups and 821 detailed

occupations. In addition, national employment and wage estimates for 94 minor

occupational groups and 458 broad occupations are available for the first time.

New 2010 SOC Occupations

  --Other large newly defined occupations include computer network

    architects, with employment of 137,890, and web developers, with

    employment of 102,940. Phlebotomists, who draw blood for tests,

    transfusions, donations, or research, had employment of 100,380

    in May 2012. (See table A.)

  --Some new occupations were quite small: genetic counselors, wind

    turbine service technicians, and solar photovoltaic installers each

    had employment of less than 5,000. (See table A.)

  --Several newly defined occupations earned high wages relative to the

    U.S. annual mean of $45,790. Nurse anesthetists had an annual mean

    wage of $154,390, nurse practitioners, $91,450, and nurse midwives,

    $91,070. Information security analysts had an annual mean wage of

    $89,290 and computer network architects, $94,000. (See table A.)

  --Orderlies, with an annual mean wage of $25,700, was among the

    lowest paid occupations new to the 2010 SOC. Phlebotomists ($30,910),

    ophthalmic medical technicians ($35,590), and community health workers

    ($37,490) also had wages below the U.S. average. (See table A.)

ReBlog:  IWS, NYC

WorldatWork (Total Rewards Association)

State Labor Law Directory (U.S.)

http://www.worldatwork.org/waw/Content/library/html/library-state-resources-2.jsp

[excerpt]

Below you will find a directory of state agencies, state-specific labor laws and other resources to help you research and comply with total rewards-related regulations.

Where possible, the Labor Regulations link points directly to the state labor code or statute. However, the online structure of the codes or statues may require an additional search to locate the appropriate title or chapter.

Many of the resources listed under State-by-State Charts & Summaries are maintained by the U.S. Department of Labor (DOL) and in most cases point to private-sector, non-farm employment requirements. The absence of a link in this section does not guarantee that a state-specific and/or federal requirement does not apply. Please consult your state's labor department or your attorney for verification of any state or federal regulation.

ReBlog: IWS, NYC

Monthly Labor Review

March 2013

Vol. 136, Number 3

http://www.bls.gov/opub/mlr/

or

http://www.bls.gov/opub/mlr/2013/03/mlr201303.pdf

[full-text, 149 pages]

Articles

Occupational Outlook Quarterly

Spring 2013 Vol. 57, Number 1

http://www.bls.gov/opub/ooq/2013/spring/home.htm

My career: Composer
PDF (1.00M)
Interviewed by Sara Royster

Brief items of interest to counselors and students.
PDF (872K)

You're a what? Online seller
PDF (840K)
Elka Torpey

How long do workers stay with the same employer?
PDF (815K)