Administrative outsourcing: unanticipated opportunities for process improvement

Article Abstract:

Several process improvements occur once companies outsource the administration of their retirement benefits programs. These include flexibility in plan design and administration, elimination of paper forms and paper inventory, consolidated recordkeeping for qualified and nonqualified plans and automatic updating of account balances for certain transactions. Other advantages to outsourcing include the elimination of promissory notes and faster 401(k) plan distributions when an employee is terminated.

Methods, Management, Evaluation, Compensation management, Employee benefits, Outsourcing

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Emerging trends: unified defined benefit/defined contribution retirement program designs

Article Abstract:

The usual concept of retirement has undergone radical changes in a desire to meet growing global competition. The blurring of plan types that occurred even before ERISA with the money purchase pension plan and floor offset arrangements continue to thrive with cash balance defined benefit plans and age-weighted defined contribution plans. Resourceful plan design and administrative design strategies to meet varied interests within qualified retirement plans are expected to be applied.

Retirement Benefits, Analysis, Retirement planning

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Baby boom to baby bust: flexible work options for older workers

Article Abstract:

Employers will have to contend with the employment needs of an aging workforce and a possible option would be to organize work in work modules of four hours each. Work modules would enable employers to offer the flexibility needed by older workers and also facilitate the transition from full time employment to full time retirement by adjusting the number of work modules in one week.

Business Personnel Management, Forecasts and trends, Human resource management, Demographic aspects, Baby boom generation

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