Benefits February 2, 2011

Amtrak Accused of Pay Discrimination

February 2, 2011 (PLANSPONSOR.com) - The nation’s largest rail carrier is being accused of paying a human resources regional director less money because of her gender and then unlawfully retaliating against her when she complained about the discrimination.
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The U.S. Equal Employment Opportunity Commission (EEOC) charged in a lawsuit that beginning in 2001, the National Railroad Passenger Corporation, also known as Amtrak, discriminated against Sheila Davidson in her compensation and work assignments because of her gender. The EEOC said Amtrak paid Davidson, a human resources manager assigned to the rail carrier’s 30th Street Station in Philadelphia, the same salary as it paid two male human resources regional directors, even though Davidson had more relevant experience and was assigned a far greater workload than her male counterparts.  

According to an EEOC press release, the pattern of sex discrimination against Davidson continues to have a negative effect on her compensation and benefits even after she was laterally transferred to the position of director of work force planning in 2006.  

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The agency also charged that Amtrak violated Title VII and the Equal Pay Act of 1963 by unlawfully retaliating against Davidson because she complained about the wage discrimination and filed a charge with the EEOC. The retaliation includes barring Davidson from participating in senior staff meetings.  

The lawsuit seeks injunctive relief prohibiting discriminatory practices based on gender or retaliation, as well as lost wages and compensatory and punitive damages for Davidson and other affirmative relief.  

“Denying Davidson a salary commensurate with her greater workload not only showed bad business judgment, it also constituted a violation of federal law. We hope this lawsuit reminds all employers to review their compensation policies and practices to make sure they are not engaging in unlawful wage discrimination,” said EEOC Regional Attorney Debra Lawrence, in the press release.
Products February 2, 2011

UBS Enhances Equity Comp Plan Services Platform

February 2, 2011 (PLANSPONSOR.com) - UBS Wealth Management Americas has announced a number of enhancements included in the multi-year technology initiative for its equity compensation plan services business.
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IFRS Reporting assists U.S. multinational companies with non-U.S. subsidiary reporting requirements and lays the foundation for all U.S. companies to meet their future reporting obligations under International Financial Reporting Standards, the company said.

According to the announcement, features include: 

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  • Ability to calculate and store fair value and expense amortization schedules for awards separately from FAS123r fair value and amortization schedule; 
  • Functionality to generate Expense, EPS and Disclosure reports to support the IFRS reporting process; and 
  • Flexibility to allow “all grants” or only “selected grants” to be valued under IFRS vs FAS 123r. 

  

Retirement Eligibility automates the process for tracking and collecting taxes at retirement eligibility, but prior to vesting. Features include: 

  • Tracking at either the participant or grant level to accommodate plan specific terms; 
  • Processing and recording taxable events for restricted stock related grants; 
  • Supporting flexible participant tax payment methods; and  
  • Viewing of participant information on corporate client Web sites. 

  

A third enhancement, International Electronic Share Transfer, provides participants with the online convenience of requesting share transfers across financial institutions around the globe, the company said.

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