The Future Does Not Look Bright for Pension Plans
Pension plans, which are already on the decline, may be nearing their end, thanks to new guidance issued by the U.S. Treasury Department.
Pension plans, which are already on the decline, may be nearing their end, thanks to new guidance issued by the U.S. Treasury Department.
In early March, the U.S. Treasury Department issued a notice that will allow employers to buy out current retirees from their pensions with a one-time lump sum payment.
In an opinion letter responding to an employer inquiry, the U.S. Department of Labor said employee participation in an employer’s optional volunteer program isn’t considered hours worked under FLSA.
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