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3rd Quarter 2002Executive SummariesTotal Rewards & Retirement
by Bruce N. Pfau and Ira T. Kay Improving or adopting a total rewards and accountability orientation into human resources practice can increase shareholder value by 16.5%. This article is intended to help companies cut through confusion about linking rewards to performance by focusing on the five key methods associated with the greatest increases in shareholder value. These key elements require a long-term outlook and must not only link to business strategy but also change to reflect adjustments in business strategy. Return to Top
by Brian Satterfield As the stock market continues its volatility, many companies are realizing
that traditional stock options should not be the only long-term incentive
vehicle in their long-term incentive program. In an attempt to begin to
inform the reader of the various alternatives available, this article
describes vehicles that complement traditional stock options, identifies
the circumstances where they are generally used and presents considerations
for deciding among them.
by Joe Meyer and Elaine Davis More organizations are finding secular counseling provided by employee
assistance programs (EAPs) is inadequate for many employees. As a result,
increasing numbers of employers are providing services of workplace chaplains.
Chaplain services are not necessarily part of the recent fad toward "spirituality"
in organizations, but rather address the needs of an increasingly nonchurchgoing
culture living in a more stressful world.
by Gary Blau and Donna Surges Tatum The results of this study present additional support for distinguishing
between two types of employee benefit satisfaction-basic and career enrichment.
Such a distinction is unique in the benefits satisfaction literature and
parallels the "traditional"-"protean" distinction
in the organizational career literature. Basic benefit satisfaction emphasizes
employee safety and security benefits, while career enrichment benefit
satisfaction emphasizes employee skill development benefits. Different
significant variable relationships to each type of benefit satisfaction
were found.
by Vivian Fields and Robert Hutchens Can earnings during phased retirement, whereby older workers move from
full- to part-time status, be augmented by employer pension benefits in
the for-profit sector? The authors demonstrate that the answer to this
question is not straightforward but, rather, depends on various circumstances
and considerations. In short, employers with defined benefit or money
purchase plans face a restrictive environment, whereas employers with
defined contribution plans have greater flexibility.
by Gary S. Mettler During this era of increasing defined contribution plan coverage, actuarially
fair annuities can protect base income needs, shifting risk back to where
it belongs-to financial institutions and the insurance industry. This
article reviews the environment in which actuarially fair annuities can
play this important role and discusses options, considerations and common
objections pertaining to actuarially fair annuity products.
by David Blake and John Turner In the United States and other countries, many retirees face great difficulties
in tracing their former employers in order to apply for a pension to which
they are entitled. At the same time, pension plans have trouble tracking
down pensioners with whom they have lost contact. The problem of lost
pensions and lost pensioners was also prevalent in the United Kingdom,
but in 1991 the British government established a national registry of
pension plans financed by a levy on all registered pension plans. The
registry is cheap to run (equivalent to 20 cents per member per annum)
and has helped thousands of people receive their pension entitlements.
This policy option could be considered in the United States and other
countries with similar problems.
by Jack L. VanDerhei, Ph.D., CEBS In January 2002, CEBS graduates were surveyed in an attempt to provide
a context to the current debate on company stock in retirement plans.
The survey found CEBS graduates fairly united in certain responses, providing
insights about the role of company stock in retirement plans. CEBS graduates
were most notably divided about public policy issues related to company
stock in 401(k) plans, suggesting a need for additional study and discussion
before a consensus can be reached even among benefits professionals.
Full text copies of these articles are available through the INFOSOURCE™ Document Delivery Service. Article reprints are also available in quantities of 100 or more. For information, call the Publications Department at (888) 33-IFEBP. You can order your subscription (reprints and back issues) online. Four issues for $100 (or $75 for CEBS registrants). |
