There’s never a good time to get sick, but today would be an especially bad day to get sick in the Twin Cities, as more than 12,000 nurses from the Minnesota Nurses Association stage a one-day walkout at 14 hospitals throughout the Minneapolis/St. Paul area.
The Star Tribune quoted one participating nurse, Laura Schuerman, who spoke on the need to protect the nurses’ retirement prospects:
An issue of primary concern for her, she said, was the hospitals seeking a one-third reduction in their contribution to the nurses’ pension fund.
“I do want to retire someday,” said Schuerman, who is 50 years old. “I work hard. I do a lot of lifting of patients. Can I do that at 65 or 70?”
So far this morning, comments on the Star Tribune‘s story seem to be divided pretty evenly between those voicing support for the unions and those against the walkout. Here’s hoping both sides can come to an agreement soon.
In case you didn’t see this latest guidance from the federal government on target-date funds, also known as life-cycle funds, take a look and bookmark!
The guidance, issued jointly by the U.S. Department of Labor’s Employee Security Administration and the U.S. Securities Exchange Commission, is intended to help investors and plan participants understand the operations and risks of target-date fund investments.
For all the new ways the current administration seems to be adding to HR leaders’ administrative responsibilities (double-use of word intended), this guidance truly does appear to make your job a little easier by supplying, in one place, the information you need to help your retirement-plan participants navigate some complicated territory.
Interesting ruling today by the U.S. Supreme Court affirming that a court must give deference to an ERISA fiduciary’s second interpretation of ambiguous plan language, even if the first interpretation made by the fiduciary is struck down by the court as unreasonable. The case is explained in a post from Atlanta-based Fisher & Phillips.