Historically, if a participant elected a hardship distribution under a 401(k) plan, the participant generally was prohibited from making any deferrals for at least six months under the 401(k) plan or all other plans maintained by the employer, including any non-qualified deferred compensation plans. READ MORE
Kodak addresses controversial halted $765M loan amid SEC probe
Kodak shares plummeted earlier this week after the U.S. International Development Finance Corporation said the $765 million loan was on hold amid allegations that “raise serious concerns.” The Securities and Exchange Commission is investigating the company’s procedure for disclosing the deal, as well as stock grants to Continenza and other top executives just hours before the loan was announced. READ MORE
Extra coronavirus unemployment benefits to start in 2 weeks
The Labor Department expects enhanced unemployment checks to go out in roughly two weeks, White House economic adviser Larry Kudlow said Tuesday. READ MORE
After nine years as CEO of Apple, Tim Cook is now a billionaire
Apple CEO Tim Cook has become a billionaire as he nears a decade at the helm of the world's most valuable company. READ MORE
Setting clear and direct goals for your employees is beneficial for your company and your staff.
A critical responsibility for any business owner or manager is setting goals. This includes the task of setting performance or development goals for your team. The best type of employee performance goals tie back to your company's overall organizational goals. READ MORE
Reward Your Employees — Without Breaking the Bank
As the ongoing public health crisis has metastasized into an economic slowdown, it’s difficult for many corporations to retain and reward their people. Many firms aren’t in the position to give their employees large annual bonuses. As the former CEO of CitiMortgage and now the CEO of Caliber Home Loans, I have seen how spot bonuses can be an effective alternative: We recently paid spot bonuses to almost all our employees to reward them for their diligent work in a tumultuous year. Indeed, companies can use a spot bonus like a scalpel to stimulate feelings of satisfaction among employees, incentivize group behaviors, and build a stronger sense of solidarity. READ MORE
What It Means: President Trump’s Executive Order on Deferring Payroll Tax Obligations
On August 8, 2020, President Donald Trump issued the Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster (Executive Order). READ MORE
Wells Fargo's Scharf unseats Jamie Dimon as highest-paid US bank CEO in 2019
Charles Scharf, Wells Fargo & Co.'s CEO since Oct. 21, 2019, became the industry's highest-paid CEO last year, bringing in $36.4 million in total compensation. Jamie Dimon, CEO of the largest U.S. bank by assets, JPMorgan Chase & Co., and the highest-paid CEO in 2018, 2017 and 2016, raked in $31.6 million in 2019. READ MORE
TVA board to review CEO compensation after Trump says utility pays too much
Lyash, a former CEO of Ontario Power, joined TVA last year and was paid more than $8.1 million in total compensation during his first six months on the job. Trump's $400,000 annual salary is only a fraction of what Lyash is paid at TVA and the president has called TVA's pay for its CEO "ridiculous." Trump said TVA's top pay should be cut "by a lot" to be more in line with other federal executives. READ MORE
Salary Increase Budgets Fall for First Time in 12 Years
Total United States salary budget increases fell for the first time in a dozen years, according to WorldatWork’s “2019-20 Salary Budget Survey.”
Respondents, who took the survey during the COVID-19 economic fallout, said the average salary budget hike will be 2.9%, a pronounced departure from the projected increase of 3.3%. READ MORE
Trump's executive orders give Congress new deadline
The president’s orders grant unemployed Americans an extra $400 per week in benefits and postpone the payroll tax through the end of the year, in addition to deferring student loan payments and freezing evictions. READ MORE
What a Trump payroll tax deferral would actually mean for your wallet
President Trump on Saturday signed four executive actions as an attempt to sidestep Congress – deadlocked in negotiations over another coronavirus aid package – and provide relief to American workers and businesses still reeling from the pandemic. READ MORE
Performance and rewards: The way forward
Going forward organizations should refine their assessment of employees’ work and the rewards they receive, such that it is a fair and equitable reflection of their contribution to the organization. READ MORE
Trump promises permanent cut to payroll tax
President Trump pledged on Saturday to pursue a permanent cut to the payroll taxes that fund Social Security and Medicare if he wins reelection in November, a hard-to-accomplish political gambit that some experts see as a major headache for the future of the country’s entitlement programs. READ MORE
Payroll tax deferral will give employed Americans 'a huge wage increase'
White House economic adviser Larry Kudlow said Sunday that the payroll tax deferment enacted by President Trump's executive order will give millions of employed Americans "a gigantic wage increase." READ MORE
The Pandemic Benefit Seems So Great Because Actual Wages Are Insanely Low
It won’t be enough to simply bring back jobs when people weren't making enough in the first place. READ MORE
Salary budget planning 2020
Pay freezes, postponed reviews and slashed salary budgets - what will be in store for 2021? READ MORE
On Measuring Sales Performance
When we separate measuring sales performance from compensating sales performance, we are able to start clarifying things. We can start to develop more meaningful metrics. READ MORE
Report reveals shocking salary discrepancies between men and women at Netflix, Google, and others
A recent study by BioSpace revealed a shocking salary disparity between men and women at top companies in the United States. READ MORE
Facebook CEO Mark Zuckerberg is now worth $100 billion
Mark Zuckerberg has joined the world's most exclusive club of the ultra rich.
The Facebook (FB) CEO on Thursday became a centibillionaire: someone who is worth at least $100 billion. He crossed the milestone after shares in the social network surged. Only two other men, Amazon (AMZN)'s Jeff Bezos and Microsoft (MSFT)'s Bill Gates, have bigger personal fortunes. READ MORE