|
TOP HR NEWS 
Economic Stimulus Package and its COBRA impact ...
The American Recovery and Reinvestment Tax
Act of 2009 (the "Act") was signed into law on February 17, 2009.
This new law dramatically affects virtually all employers with 20 or more
employees whose group health plans are subject to COBRA.
|
Five-Year Cycle For Individually-Designed
Plans
Several
years ago the IRS created a five-year determination letter submission cycle
for individually-designed plans (IDPs).
Under
this scheme, an IDP will be required to submit an application for a favorable determination
letter once every five years. IDPs include both defined benefit and defined
contribution plans that are not pre-approved plans. The timing of the submissions for IDPs is
determined by the last digit of the plan sponsor's Employer Identification
Number (EIN).
|
Our staff and firm are proud
members of the
following professional
organizations.
Society of Actuaries
American Society of Pension Professionals Actuaries
Society for Human Resource Management
American Management Association
National
Federation of Independent
Business
Better
Business Bureau
|
|
Michael F. Yates & Company, Inc.
__________
101 Belvidere Avenue
P.O.Box 7
Washington, NJ 07882
908-689-4200
fax: 908-689-6300
|
- Due to the nature of
the Internet, MFYCO does not warrant that access to MFYCO web sites or
any of their pages will be uninterrupted or error free.
- MFYCO does not
warrant or make any representations regarding the usefulness of or the
expected results of the material contained on MFYCO web sites.
|
MFYCO PRIVACY POLICY
Michael
F. Yates & Company Inc. believes strongly in protecting the privacy
of its users. We collect personal information only when necessary. We
do not collect any personal information about users of our web site
unless it is explicitly requested via an on-line form or request.By using our web site you consent to the collection, transfer and use of your personal information in the manner set out within.
Continue Reading
|
|
Your comments have gone a long way!
Thank you for the positive response to last months newsletter. You can view all of our newsletters by clicking the 'newsletter archives' link at our company website (www.mfyco.com). Please feel free to comment and/or ask a question at any time. We offer this timely information as another benefit of your relationship with our company. I am humbled by your support and truly appreciate your trust and business.
Best Regards,
Michael F. Yates
President
|
|
Our Newsletter is not meant to be stuffy!
Short and sweet HR advise because
everything else is LATIN to some!
-
Sine labore nihil
Nothing without
work
- Qui timens vivet liber non erit umquam
He who lives in fear will never be free (Horace).
- Me transmitte sursum, caledoni!
Beam
me up, Scotty!
- Quidquid
latine dictum sit altum viditur
Whatever is
said in Latin seems profound.
|
It's Back and It's
Still Scary:
The Employee Free Choice Act ... or
The Opportunity for
Coercion?
The Employee Free Choice Act was passed by the House last
year, but stalled in the Senate. It's now back. On March 10th, the
bill was reintroduced in both the House and the Senate. Why should any business
be concerned about a bill that promotes employee "free choice"?
Very briefly, this bill eliminates the private ballot in
union organization attempts, sets a 120 day period to negotiate the first
contract, and if that date is missed, a Federal Arbitration Panel will hand
down a binding two-year contract. The bill imposes harsh new penalties on
businesses - but not on unions - of up to $20,000 for each violation of the
National Labor Relations Act and back pay penalties of three times the base pay
rate.
Rather than promote free choice, intimidation and coercion
will be the norm. Unions only have to get 50% of the target group to sign cards
to certify the union. As the unions may approach a worker at any place and at
any time, the worker has no protection from harassment. The union does not have
to tell the company or all the employees they are making an organization
attempt. This prevents the company and employees who do not want a union from
properly fighting the attempt.
Unions need more members to exist. Discussions with union
leaders confirm this and tell us where they are headed. As manufacturing jobs
are declining, the unions are looking at organizing previously ignored employee
groups including: white collar, middle management, scientific, and
pharmaceutical employees. They will also be targeting those companies who have
had to downsize, do away with benefit programs such as pensions or medical
plans, and those which may benefit from the various stimulus programs. No size
of company is immune from this.
This bill will only be defeated if Congress
hears from all of us. Please write your Representative and Senators today!
|
Michelle's Law"Michelle's
Law," named after Michelle Morse, a postsecondary student diagnosed with colon cancer
who opted to continue her postsecondary studies on a full-time basis against
her doctor's wishes so that she would not lose dependent status under her
health plan, was signed in to law October 9, 2008. The new federal law takes effect for plan
years starting on or after October 9, 2009 - meaning January 1, 2010, for
calendar year plans. The law will apply to leaves beginning in that year. Read the entire article...
|
New Annual Funding Notice Requirements
The Pension Protection
Act of 2006 (PPA '06) amended the Employee Retirement Income Security Act of
1974 (ERISA) to require plan administrators of PBGC covered defined benefit
pension plans to replace the Summary Annual Report (SAR) with an Annual Funding
Notice that will provide participants and others with information annually
about the funding status of their plans. The new notice requirement applies to
plan years beginning after 2007. The
first Annual Funding Notice is due April 30, 2009 for 2008 calendar year large
plan filers.
- What Information Must the New Notice Include?
- Who has to get the New Notice?
- When Does the Notice Have to be Distributed?
- How Can The Notice Be Distributed?
- What About The SAR?
Find the answers by clicking here!
| |
|
about our company ...
- Michael F. Yates & Company, Inc. can help you with a variety of services ranging from retirement plans to providing results-oriented survey instruments, training and development programs for your employees. Our products and services are intended to help you maximize the effectiveness of your Human Resources function.
- These products and services incorporate our years of experience so that you receive rapid results and exceptional value. From onsite consulting, to strategic business integration, to Web enablement, we understand how Human Resources can be applied to solve your problems and achieve your goals. As a result, we can help you get the most out of your investment and turn your most precious resource into a competitive advantage.
- We offer Consulting, Retirement Planning, Pension and 401(K) both qualified and non qualified Plans, Welfare Plans, Communications, Computer Systems, Executive Plans, Compensation, Mergers, Acquisitions, Divestitures and Other Services.
We offer a true and honest, Client Partnership.
Take the Michael F. Yates & Company, Inc. challenge!
|
about the content
TERMS OF USEThe site ("from the HR perspective" hence herein referred to as MFYCO.com) is made available by Michael F. Yates & Company Incorporated. All content, information and software provided on and through 'from the HR perspective' and MFYCO.com ("Content") may be used solely under the following terms and conditions ("Terms of Use"). YOUR USE OF THIS WEBSITE CONSTITUTES YOUR AGREEMENT TO BE BOUND BY THESE TERMS AND CONDITIONS. IF YOU DO NOT AGREE TO THESE TERMS, YOU SHOULD IMMEDIATELY DISCONTINUE YOUR USE OF THIS SITE.
More information about the content
| |
|
