Benefits November 26, 2013

Clothing Colors Can Affect Job Interviews

November 26, 2013 (PLANSPONSOR.com) – While dressing well for a job interview is a no-brainer, what colors you wear can make a difference as well.
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A new survey from CareerBuilder looks at the attributes employers most often associate with colors that job candidates wear to interviews. When asked to advise job seekers on the best color to wear, employers most recommend blue (23%) and black (15%). Orange was deemed the worst color for an interview by 25% of employers and most likely to be associated with someone who is unprofessional.

While conservative colors such as black, blue, gray and brown convey a sense of professionalism, other qualities conveyed by the color of a candidate’s clothing include:

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  • Black (leadership);
  • Blue (being a team player);
  • Gray (logical or analytical);
  • White (organized);
  • Brown (dependable);
  • Red (power); and
  • Green, Yellow, Orange or Purple (associated with creativity).

CareerBuilder experts offer the following tips to dress for success when meeting with a potential employer:

  • Dress for the environment, but don’t get too casual. If everyone is dressed in shorts and flip flops and you show up in a business suit, you may not come across as the right fit.  Dress according to the environment, but always look polished. Wear a suit where appropriate or at the very least a nice pair of pants or skirt and collared shirt or blouse.
  • Stick with neutrals. You can’t go wrong with navy, black, brown and gray. You can pair this with a classic white button-down shirt or incorporate a splash of a more vibrant color.
  • Tailor your outfit. Clothing that is too tight or revealing can leave an unfavorable impression. Clothing that is too loose can make you look like a kid wearing a parent’s clothes. Make sure your interview apparel complements your shape.
  • Don’t distract the interviewer. Wacky ties, loud patterns and oversized jewelry can cause the interviewer to spend more time wondering about your outfit than your skill set. Solids or small patterns are your best bet for interview attire.
  • Pay attention to details. Make sure shoes are polished, clothes are free of wrinkles and nails are manicured. Be mindful of your choice of belt, tie clip, hosiery, socks and other items.

This survey was carried out within the United States by Harris Interactive on behalf of CareerBuilder. It was conducted online among 2,099 hiring managers and human resource professionals (employed full-time, not self-employed and nongovernment) between August 13 and September 6.

CareerBuilder is a provider of labor market intelligence, talent management software and other recruitment solutions.

Compliance November 26, 2013

Supermarket Chain Agrees to Restore Plan Assets

November 26, 2013 (PLANSPONSOR.com) – A Brookings, Oregon-based supermarket chain has been ordered to restore assets to its retirement plan.
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The suit, Solis v. C&K Market Inc. (civil action number 6:10-cv-06360-AA), was filed by the Department of Labor (DOL) against C&K Market in the U.S. District Court for the District of Oregon in Eugene. C&K Market operates approximately 50 supermarkets in southern Oregon and northern California.

According to a consent judgment agreed to by the company, C&K Market will restore $3 million in cash plus interest and sell property owned by the C&K Market Inc. 401(k) plan. These and other steps will be done to make restitution for a series of imprudent loans made with plan assets, which were found to be in violation of the Employee Retirement Income Security Act (ERISA).

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The DOL had alleged that plan trustee Douglas A. Nidiffer and former company officer Rex Scoggins made a series of loans and extensions of credits totaling $2,185,000 from the plan to Gregg W. Boice between November 1998 and January 2001 (see “Supermarket Chain Agrees to Restore $8M to 401(k) Plan”). This was done in an effort to develop a proposed resort in Gold Beach, Oregon. However, Boice defaulted on his plan loans on several occasions and in March 2003, his property for the project was transferred to the plan in lieu of foreclosure on the property. The plan then assumed the costs of ownership of the property.

The suit also alleged that the plan entered into an agreement with the owners of property adjacent to the proposed resort to serve as consultants for development and management, and that it granted a right of first refusal option to another party to buy a restaurant on the resort property. Both actions were cited as imprudent in the suit.

In addition, the suit alleged that the plan trustee approved a $40,000 loan from the plan to purchase a convenience store and gas station near Astoria, Oregon. The station was found to be contaminated by leaking underground fuel tanks, making the property unsellable. When the borrower defaulted on the loan, the plan foreclosed on the property, making the plan responsible for the costs of environmental cleanup.

The DOL negotiated a consent judgment with the company prior to filing its lawsuit. In addition to the restitution, the settlement directs the sale of the plan-owned properties. Under the settlement, the 401(k) plan will recover no less than $4.5 million from any sale of the resort property. Nidiffer also agreed to resign as a trustee to the 401(k) plan.

The suit was based on an investigation by the DOL’s Employee Benefits Security Administration.

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