December 14, 2007 (PLANSPONSOR.com) - The weakness
of the stock market led 401(k) participants to seek more
cautious investments, according to the results of the Hewitt
401(k) Index for November.
While overall transfer activity was modest in
November, four days of the month experienced above-normal
levels of transfers, each of which was fixed-income
oriented, Hewitt said. Participants moved assets out of
equities and into fixed-income investments on 76% of the
days of the month.
All equity asset classes except International
experienced net outflows, with $553 million shifting out
of equities and into fixed-income investments during the
month, Hewitt data showed. In contrast, the three
fixed-income asset classes (Money Market, Stable Value,
and Bond) received over $600 million of inflows.
Nearly 60% of transferring 401(k) money moved into
GIC/stable value during November, and Bond funds received
$178 million in transfers in the month. Large U.S. Equity
was the biggest loser of the month, as participants moved
a total of $231 million out of this asset class.
Small U.S. Equity saw $158 million transferring out
for the month.
At the end of November, participants’ overall
allocation to equity investments was 67.1%, down from
68.1% at the end of October. Large U.S. Equity held
20.59% of 401(k) balances at the end of November,
GIC/Stable Value held 20.46%, and Company Stock held
16.86%.
The majority of participant-only contributions went
into Large U.S. Equity funds (21.03%), Lifestyle/Pre-mix
funds (17.8%), and GIC/Stable Value funds (15.54%). Large
U.S. Equity, Lifestyle/Pre-mix, and Company Stock funds
received the majority of overall contributions in
November: 19.25%, 16.38%, and 15.72%,
respectively.
December 13, 2007 (PLANSPONSOR.com) - I'm sure some
of you have noticed that Christmas falls on a Tuesday this
year - and thus Christmas Eve - a day of dubious productivity
at best (at least for those not employed in the retail
sector) - emerges as part of a potentially convenient
four-day weekend (whether one celebrates Christmas or
not).
This week I asked readers if your workplace would be
open for business on Christmas Eve.
The short answer is – mostly not.
Nearly
55%
of this week’s respondents said their place of
employment would be closed, though admittedly that means
that roughly
46%
would be open.
That does not, however, mean that it will be business as
usual.
Of those that would be open, roughly a third say they will
close early, and another quarter say they will close early
(albeit unofficially) – and nearly one in five (
19%
) said they will “probably” close early.
As for how many readers will be around – well, a third
said “yes”, about
6%
said “yes, for awhile”, and
12%
said they would be around “physically, anyway.”
However, nearly half – even among those whose place of
employment will be open in the 24
th
– said they won’t be at work.
But how readers came to their decision to be – or not to
be – at work was all over the board.
There were the ones that were
always off:
We are officially closed; and even if officially
open, we would have been effectively closed.
Our office is closed the entire week of December 24th
— a year-end bonus.
We are always closed on Christmas Eve — the fact
that Christmas is on Tuesday did not impact that
decision.
We made the decision years ago to stay closed on
Christmas Eve. Half of our employees tried to request it
off and the other half always tried to skip out
early.
There were those that had the
day off this year:
Company policy has a little convoluted language, but
it works out to a four day weekend for Christmas, unless
Christmas falls on a Wednesday. If Christmas is on a
Wednesday, we get Tuesday and Wednesday off
I work for the federal government – thanks to the
President, we have off on a day that was going to be a
vacation day for me (see
Feds to Take Off
December 24
).
And there were those who were
never off:
That darn stock market…it’s open so we
are…
Those of us not taking a vacation day will come in
and commiserate about having to come in and then we will
all start to leave and the office will probably be empty
by noon. Silly? YES!
Are we open? No way, jose! I can’t wait to enjoy
this special four day holiday weekend with my family and
friends! And the best part?! When we come back to work on
Wednesday it’s a short week, and we get out early on
Friday. And that begins another four day weekend for New
Years, from which we’ll come back to ANOTHER short
week! woo hoo!
We had several readers who were outside the US.
One noted,
“While we are “open” on December 26th (Boxing
Day) many of my colleagues will be celebrating that day as
well and be taking the day off (which makes for a 5 day
weekend!) Happy Holidays to All.”
And those who weren’t expecting to be
off:
“Christmas is the holiday, not Christmas Eve,”
said one.
Another noted:
“We are officially closed. I will have my payroll
people come in for a short time to get what they can
finished so they aren’t pulling a 12 hour day Wednesday
to finish payroll. I let them take another day off in place
of Christmas and New Years Eve and on the eve they only
work until time cards are entered. Oddly they finish in
three to four hours, the rest of the year it takes all
day.”
“I’m surprised that they haven’t decided to
open on Christmas Day.”
But this week’s
Editor’s Choice
goes to the reader who said,
“Must look productive. Santa is still watching.”
Thanks to
everyone who participated in our survey!
We always close
for Christmas Eve, regardless of when it
falls.
Normally we close
at noon on Xmas eve, and 3PM on New Year's
Eve. We have been given the option to take one of
those two days as a full day off instead. So
everyone will have a 4 day weekend one of the two
weekends.
No one will be
doing any work - especially since we'll be be
serving Mimosa's (for those who wish to
partake) along with the traditional Christmas Eve
brunch we have catered in every year.
I will probably
work from home.
A vacation day
will be used
If the financial
markets are open, so are we. It is hard to
believe that much will get done that day,
however.
Everyone would
take vacation if we were not open anyway...We
will even leave early on Friday the 21st...people
sneak out starting 2:00 before every
holiday..
I expect a very
slow day in our TPA office on Monday, 12/24. Most
likely more than half the office will take a
vacation day, and very few clients will be in the
office.
Trying to wrap up
some projects before I begin all the overtime for
year-end Wooo Whoo!
Not known at this
time - the wife is thinking she will have the day
off and I've got enought vacation time to
take the time off so......
An enhanced
"benefit' this year - an extra paid
holiday. We can also take New Year's Eve off,
but must use accumulated vacation time.
Is the market
open? Then we're open.
Not worth two
hours of commuting for four hours of
"work." If a full day, yes, I'd
work...love the quiet!!
Our company will
also be closed on New Year's Eve, giving
employees two consecutive 4-day weekends.
I work at
Headquarters of a large Fortune 500 company, and
the office closes at noon on the 24th. The
following week, the same thing will apply to Dec.
31st.
Must look
productive. Santa is still watching.
I will being using
the rest of my vacation I always save for the
last week of the year.
Years ago, when
Christmas fell on a Tuesday or Thursday, this
company closed to give employees a long weekend.
New management is all about cutting everything -
most recently sick time. Bah humbug is alive and
well in corporate America.
We are not
officially open but some of us have to work
anyway.
Every year, the firm
offers choose-your-own-holiday in exchange for
working on either Washington's Birthday or
Columbus Day. This year the floater holiday was
cancelled and Christmas Eve was made one of the 10
holidays for 2007.
Company policy has a
little convoluted language, but it works out to a
four day weekend for Christmas, unless Christmas
falls on a Wednesday. If Christmas is on a
Wednesday, we get Tuesday and Wednesday off
We may the decision
years ago to stay closed on Christmas Eve. Half of
our employees tried to request it off and the other
half always tried to skip out early.
We are a residential
care facility so we have to be open for the
residents however all of the business office staff
will be taking the day off.
Our office is closed
the entire week of December 24th -- a year-end
bonus.
We always get both
Christmas Eve and Christmas Day as holidays,
regardless of what day of the week they're on.
If one or both falls on a weekend, we get
equivalent weekdays off, before and/or after the
holiday weekend. Not a bad deal!
We get hardly any
holidays all year...but we have SHUTDOWN from 12/22
to 1/2 with pay. It's worth it!
We are always closed
on Christmas eve -- the fact that Christmas is on
Tuesday did not impact that decision.
Are we open? No way,
jose! I can't wait to enjoy this special four
day holiday weekend with my family and friends! And
the best part?! When we come back to work on
Wednesday it's a short week, and we get out
early on Friday. And that begins another four day
weekend for New Years, from which we'll come
back to ANOTHER short week! woo hoo!
Closed Monday and
Tuesday means I only have to take 3 days of PTO for
a full week off! And then come back on the 31st,
and the office is closing an hour early and then
another day off! Hooray for not working
retail.
No matter which day
of the week is Xmas, the day before should NOT be a
work day, nor the day after. Boxing Day (& how
many people know this does not mean everyone
sitting in front of the TV watching people duke it
out?) The US has fewer holidays & vacations
than most of civilized Europe; I wish the Puritans
had settled somewhere else.
We have a company
shut down from 12/24 through 1/1. This counts as
part of our holiday allowance.
closed 12/24 and
12/31
Wanted a 4 day
weekend, so scheduled the day as a floating
holiday. Same thing next weekend for new year's
eve.
Fortunately,Christmas Eve is one of our regualar
holidays.
It seemed to be
easier to shut down Christmas eve and avoid the
conflicts for our employees
The office building
where our suite is located will be closed. As a
result, I get an extra day off!
We decided to use
our "floating" Holiday to cover Monday
(Christmas Eve) this year.
Our office is closed
for two days whenever Christmas falls on a Tuesday
or Thursday!
We will be closed
but it is on the employees to take a day of
vacation or since we are a government entity, comp
time.
In past years the
few people in my department who were here ended up
going to a movie and leaving early. It's easier
to just give the day off! Although we are open the
26th - 28th, we're closed on the 31st, and
people are being encouraged to take the entire time
off - 11 days off in a row by using 3 vacation
days. The encouragement takes the form of no food
services, limited IT support, receptionists,
custodians, etc.
Our company gives 4
holidays around Christmas and New Years Days, so
our employees get a full week off. This year we
also gave December 31, so we are closed from close
of business on Friday, December 21 through January
2, 2008. Unfortunately, as we are in the midst of
multiple plan mergers, trust transitions, etc., I
will be working at least some of the time, but I
can probably do so remotely.
Christmas is the
holiday, not Christmas Eve.
We are officially
closed. I will have my payroll people come in for a
short time to get what they can finished so they
aren't pulling a 12 hour day Wednesday to
finish payroll. I let them take another day off in
place of Christmas and New Years eve and on the eve
they only work until time cards are entered. Oddly
they finish in three to four hours, the rest of the
year it takes all day.
We will be closed on
Christmas Eve. It is not a regular holiday for us
but our holiday list allows for 1 floating holiday
that is either assigned to a day like this year for
Christmas Eve or left for the employee's
choosing. Next year we won't be so
lucky.
I've got my
clients well trained - there is no reason to get
year end testing done before year end - even if
they know the year end numbers - yes I've had a
10,000 life case done by the 27th of December
before. It took me two years before I won the
argument with their CPA that the corrections
didn't have to be done before 12/31. I think he
broke down only because he didn't want to be
working the last two weeks of December any more
than I did.
I'll be a few
thousand miles away from the office that
day--WITHOUT my work laptop, thank you very
much.
Have a Merry
Christmas!
I work for the
federal government - thanks to the President, we
have off on a day that was going to be a vacation
day for me.
Accountants? Last
week of fiscal year? Duh. The powers that be
changed fiscal year from Feb to Dec this year. Boy,
are my staff unhappy!
This will be one of
those quiet days when I can get a lot done.
Besides, I'm Jewish, so it's not a big deal
for me. (Though I will spend Christmas Eve and
Christmas Day with various Christian
friends.)
We are very
fortunate this year. While we will be open
Christmas Eve (but only until 2 p.m.) we will then
be given paid time off until January 2, 2007 (the
equivalent of 3 additional paid days). Our company
has been through a huge amount of change and stress
this year, with many of us working long, long
hours. This is management's way (along with a
$130 grocery gift card) to say thanks. I'm very
appreciative.
We are closed for
Christmas Eve but open a 1/2 day on New Year's
Eve. I tried to get the "powers" to see
that it didn't make sense to heat the building
for those 4 hours, but they wouldn't
listen.
Taking the entire
Christmas week off, and then December 31, too.
Eleven uninterrupted days of work-free bliss, for
just five days of Paid Time Off. --Karl S.
We are officially
closed; and even if officially open, we would have
been effectively closed. A lot like Thanksgiving
Friday.
We will close
through New Year's Day but many of us will
appear now & then during the week.
Merry
Christmas!
We will also close
at 2:00 p.m. on New Year's Eve!
Sorry, I can't
ever get the buttons to work on the survey page,
but we are always closed Christmas Eve and New
Year's Eve. But we make up for it with
Saturdays Jan 30 - April 15. We're a CPA firm
that thinks the Financial Services branch needs to
require those hours as well. Oh, well.
With no budget, it
is nice to know at least one day off will be paid,
at least until the continuing resolution is passed
and the budget passes some time next year.
Office is closed
week of Dec. 24.
We close at 1:00
CT
Ah, yes, gone are
those cushy days when I worked for a non-profit and
had a dozen paid holidays, including Christmas Eve,
President's Day, and Columbus Day. Now, working
for a financial services firm, our holidays revolve
around the stock market holidays. But at least it
will be deadly quiet around here, opening up the
possibility of actually getting some work done
without silly interruptions!
While we are
"open" on December 26th (Boxing Day) many
of my colleagues will be celebrating that day as
well and be taking the day off (which makes for a 5
day weekend!) Happy Holidays to All
Christmas Eve is
normally not a holiday day for us, but due to it
falling on a Monday this year the company decided
to just make it a holiday this year.
I always get the
honor of being the only manager on the premises on
Christmas Eve and the day after Christmas, so I
have that to look forward to each year! (I've
been here 9 years, but am still the new kid on the
block...)
I work for a
retailer. We'll be here to support the
effort!
The office is
closed, but there will be a few manning the fort in
case someone must have a transaction that day. The
company will also be closed on 12/31, again, except
for a few who get that day off at some other
time.
We are open on New
Years Eve (also a Monday) but I took that day off
along with the 26th. Thus, a two day work week
followed by a three day work week. Then all H***
breaks loose as our busiest season begins.
It's great when
a scheduled holiday falls on a weekday. For the
past couple of years, we only had one of the two
days off (same thing for New Years Eve and
Day).
Christmas Eve day is
one of our regular holidays.
We are a
manufacturer -- our office personnel will be
working on Christmas Eve but the productions staff
will not -- they have to work the Saturday
following Christmas however and some will have to
come in on Christmas night.
We shutdown from
Christmas Eve through New Years Day.
I'm surprised
that they haven't decided to open on Christmas
Day.
This is a floating
holiday for us, so even though a skeleton staff has
to work, they will get another day off.
We're a
brokerage and I've always been told that if the
stock market is open, so are we. However,
that's a myth (or maybe an urban legend). If
New York City is closed due to a snow storm, or a
hurricane, we're still open. I wish the stock
market would take a look at their holidays so I
wouldn't have to use a full day's vacation
after Thanksgiving or before Christmas, when the
company usually closes early (but I still have to
use a full day vacation).
We normally receive
1/2 day on Christmas Eve but since it falls on a
Monday we are closed the entire day.
WE HAVE ALWAYS
CLOSED CHRISTMAS EVE, ACTUALLY WE ARE CLOSED THE
WHOLE WEEK BETWEEN CHRISTMAS AND NEW YEARS, WE HAVE
TO TAKE VACATION TIME, BUT IT'S STILL NICE TO
BE OFF FOR 11 DAYS.
The decision to
close any office within our health system is the
perogative of that office. Obviously the hospitals
will be open 24/7! If an office does close
"early" it probably won't be that
early, maybe just an hour or two.
We're closed on
New Year's Eve Day (12/31) also, as well as New
Year's Day (of course), so by taking three
vacation days (26th, 27th and 28th), I have 11
straight days out of the office!
NYSE is open
If the board of
directors of my company thought they could make an
extra dime by having us work on Sunday
too--they'd do it!!
After years of
working at a company doing business all day on
Christmas Eve, I am happy this is my first year
working for a company with the good sense to close
on the 24th. I get to be off on the 31st as well
getting 2 long weekends in a row. Yippy
Skippy!!!
We are normally open
on Christmas Eve but the bosses have given us an
extra holiday. Chances are, they will be here for
at least part of the day but the majority of the
rest of us will not.
That darn stock
market...it's open so we are...
We are also closed
December 31st.
We are a
manufacturing facility with a 3 shift operation.
Christmas Eve is a traditional holiday for us, no
matter where it falls.
We are using our
floating holiday.
Being a Government
office, of course we will be open!
Well, we're a
hosptial so the hospital part is obviously open.
However, office staff has Monday and Tuesday off.
YAY! Nice change from when I worked for a financial
institution.
I requested that day
off. I severed my time working Black Friday
instead
We offer 2 floating
holidays for employees to use at their discretion,
but we retain the right to assign one or both to
specific days. This year and next year are the
first years in over a decade that we've opted
to do that. We've asigned one discretionary
holiday to Christmas Eve in 2007 and in 2008
we've assigned one floater to the day after
Christmas. We did this because normally 1/2 of our
employee population are not allowed to take any
time off after December 15th. This didn't alter
the number of paid days off employees get. We are
closing at noon on December 31 and paying employees
for the entire day.
We have a shutdown
week between the week of Christmas and into the new
year but you can come in and work. I am planning to
work a half day on Christmas Eve.
We are shut down on
New Year's Eve too! Two four-day weekends in a
row. If I could only figure out a way to do this
for the next 50 weeks.
I am lucky enough to
work for a company that closes for the entire
Christmas week.
Not anticipating
that much business will be conducted. Most people
are either off or working remotely. Client contacts
are essentially not available.
Those of us not
taking a vacation day will come in and comiserate
about having to come in and then we will all start
to leave and the office will probably be empty by
noon. Silly? YES!
Thankfully, when
Christmas Eve falls on a Monday or Friday, we get
it off. If it falls on a Thursday, we'll
usually get it as well. No luck when it's a
Tuesday or a Wednesday.
Even though we are
closed, I'll be here!
Not only is it not
open on Christmas Eve, it will closed on New
Year's Eve day too (12/31). Although it is
being counted as one of our very few holidays for
2008, which means we lose it some place
else.
We are open 4 hours
Christmas Eve (for no apparent reason), this is
because - the powers that be hearts are like the
"Grinch who stole Christmas"! All year
it's tooooo small but miraculously on Christmas
Eve it GROWS!!! Okay not a lot but I'll take
the 4 free hours 🙂
I'll be bringing
my daughter to work with me to help hand out the
mince pies & then rushing home at lunchtime to
start peeling potatoes & carrots!