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New Survey Shows Benefit Cuts Difficult for HR

According to a new study by the Society for Human Resource Management (SHRM), the recession has made a major impact on employee benefits as more human resources workers report a decrease in benefits and more employees are taking bigger responsibility for managing health care costs and retirement savings. These findings were reported in SHRM’s 2011 Employee Benefits Research Report.   The report, which was released last month, showed almost 75 percent of HR professionals reported a negative impact on benefits due to the economy. This is a 5 percent increase over 2010. Regarding pension plans, 93 percent are offering defined contribution plans, as compared to only 8 percent that offer cash balance pension plans.    The report also showed a major decrease in relocation and housing programs over the last five years. In 2011, 25 percent of employers are reportedly offering such programs, compared with 42 percent back in 2007.   The survey also showed workplace flexibility benefits have ...

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Direct Deposit for Employee Paychecks makes Green Sense

If you are looking for ways to help ensure your company is as green as possible, saying goodbye to all paper checks is a great start. Paying employees through direct deposit is a simple way your company can make a huge difference in the quest for a green workplace.   According to research, a company that has 300 employees and distributing paper checks twice a week uses about 120 pounds of paper, more than 1,100 gallons of wastewater and 45 gallons of gas each year. For a company with 100 workers, using direct deposit instead of paper checks would mean about $19,000 in cost savings every year.   In addition, employees prefer direct deposit. The money is there immediately and no visit to the bank is necessary. According to a survey that was done by PayItGreen, 72 percent of employees in the United States receive their paychecks by way of direct deposit. The survey also found there is a major correlation between company size and the use of direct deposit. Research shows 86 percent of employees wh ...

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Modern Business Associates receives award from Business Leader Media.

Companies were ranked based on a combination of factors, including revenue growth, businesses achievements and civic contributions. To qualify, businesses must employ less than 100 employees, have been in business greater than five years and generate at least 50 percent of sales locally, in the Florida market.    “We are honored to be recognized as a top business in the South, and particularly in the Tampa market,” said Mark Lettelleir, CEO of MBA. “Awards like this illustrate that corporate innovation, growth and philanthropy are alive and well in our country.  Despite a tumultuous economy, we have added several new clients, expanded our service offerings and still boast a 92 percent customer retention rate.  That speaks volumes about the quality of our team and the greater Florida business market.”   Founded in 1997, MBA is one of the nation’s largest privately held PEO and HR Outsourcing companies. MBA offers clients customized payroll, tax adm ...

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States with Inadequate Health Insurance Rate Review have been Named

The Centers for Medicare and Medicaid Services (CMS) recently distributed a report identifying ten states that lack sufficient authority to review health insurance rate hikes. This is required under the Affordable Care Act. Beginning this September, the rate increases in the named states will be subject to review by the CMS to see if they are unreasonable. States not named will do their own reviews.   Rate increases that are higher than 10 percent will be reviewed by states with rate review procedures meeting standards and by the CMS for those states without such standards. CMS will do a rate review covering the individual and small group markets in Alabama, Arizona, Idaho, Louisiana, Missouri, Montana and Wyoming. It will do small group market reviews in Iowa, Pennsylvania and Virginia.   According to Consumers Union (the publisher of Consumer Reports), the scrutiny of rates for states to implement better reviews will help make sure consumers in all 50 states are not faced with unfair premi ...

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Verizon Communications Settles Disability Discrimination Lawsuit

According to the Equal Employment Opportunity Commission (EEOC), Verizon Communications Inc. has agreed to pay $20 million to resolve a nationwide class disability discrimination lawsuit involving their “no fault” attendance plans. According to the EEOC, this is the largest disability discrimination settlement in a single lawsuit in their history.    After 24 Verizon subsidiaries unlawfully denied reasonable accommodations to hundreds of union employees and disciplined and/or fired them under its “no fault” attendance plans, the EEOC charged the New York City-based company violated the Americans with Disabilities Act.    The EEOC said that under Verizon’s attendance plans, if a worker received a certain number of “chargeable absences,” he or she was put on a disciplinary step that could result in more serious consequences. The EEOC said instead of giving reasonable accommodations for workers with disabilities, the company either disciplined ...

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Modern Business Associates, Inc. is a BBB Accredited Employee Leasing Service in Saint Petersburg, FL
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