HR Specialist: New York Employment Law

Employee interpretations of state laws are leading to sky-high numbers of lawsuits in the Empire State. Aggressive attorneys don’t stop with federal laws like FMLA, ADA and FLSA: they use state and local living-wage statutes, rural codes, plus discrimination and other laws to sue employers for sky’s-the-limit damages. This New York-specific newsletter arrives monthly to help sue-proof every aspect of HR. Written in plain English, it’s your insurance policy for staying in step with current interpretations of state and local laws – and staying out of court. Learn more about HR Specialist: New York Employment Law and the free report you’ll get when you subscribe...

On top of the declining value of their investments, employees depending on 401(k) plans to build retirement nest eggs are getting another shock courtesy of the economic meltdown.

According to a survey by accounting firm Grant Thornton, 29% of companies have reduced or intend to otherwise modify their contributions to employees’ 401(k) accounts. Of those employers, two-thirds have eliminated matching contributions altogether.

Large employers were more likely than small employers to change plans. In particular, technology, retail/trade, and ironically, the financial services/banking sectors were the most likely to cut contributions.