September 23, 2011 (PLANSPONSOR.com) - DATAIR Employee Benefit Systems, Inc. announced the addition of 2012 Cycle A Cash Balance Pension Plan Documents to its Plan Document System.
DATAIR has also redesigned its Summary Plan Description to a Q&A format.
Plan Document System lets users select plan provisions from on-screen checklists and then generates tailored plan documents, SPDs, administrative forms, notices, and procedures.
Cash Balance plans give the advantage of DC plan account balances and employee communications, coupled with the higher deductibility limits available to DB plans. Cash Balance Plans are Individually Designed Documents and should be filed with Form 5300 according to the IRS staggered five-year Cycle. DATAIR’s Plan Document System now includes EGTRRA Cycles A through E with all required interim amendments plus the new 2012 Cycle A Cash Balance Pension Plan Documents.
DATAIR lets pension professionals license the Plan Document System with just the document types and plan types they need: Prototype/Volume Submitter/Individually Designed – DC/401(k), Defined Benefit, 403(b), Cafeteria, and Cash Balance. Plan Document System is licensed on a site basis (no limit to the numbers of users or documents produced at one office). Licensees receive support on systems and document questions at no additional cost.
September 23, 2011 (PLANSPONSOR.com) -
CEOs in corporate America are six times more likely than average workers to
believe they work in a company where people are inspired, a recent study
from LRN finds.
In fact, employees say they are more
likely to be coerced (84%) or motivated (12%) by “carrots and sticks” on the
job rather than by values and a commitment to a mission and purpose (4%).
Yet the study reveals that companies
that self-govern through values significantly outperform those who don’t. These
companies experience higher levels of innovation, employee loyalty, and
customer satisfaction, and lower levels of misconduct, employees fearful of
speaking up, and retaliation, the study finds. Employees in self-governing
companies also report stronger financial performance relative to the
competition.
These, and other findings, come from
“The HOW
Report,” a study of more than 5,000 full-time employees,
commissioned by LRN and independently conducted by the Boston Research Group,
in collaboration with Research Data Technology and The Center for Effective
Organizations at the University of Southern California. The study compares
the business returns of competing models of governance, culture and leadership,
and the observed behavior of management and employees.
Key findings from the report show:
•
Self-Governance is rare in corporate America. Only 3% of respondents
report they work for organizations whose purpose and values inform
decision-making and guide all employee and company behavior.
•
Organizations that exhibit self-governing behavior experience
significantly fewer risks associated with employee misconduct.
– Employees in self-governing organizations are three times more
likely to report that there is no retaliation in their organizations than are
employees in companies that rely on rules and policing, top-down,
command-and-control leadership and coercion, and 1.5 times more likely than
employees in companies that rely on hierarchy, structure, control processes,
performance-based rewards, and punishments to motivate people.
– 94% of respondents work for organizations that do not make them
feel completely comfortable in speaking up (e.g. when they see misconduct),
challenging the status quo, or voicing alternative opinions or views.
– In self governing organizations, 94% agree that employees report
unethical behavior when they see it, compared to 62% in what the study
characterizes as “informed acquiescence” companies and 26% in
“blind obedience” companies.
• Organizations that exhibit self-governing behavior are significantly more likely to achieve higher levels of innovation, employee loyalty, and greater customer satisfaction, particularly when compared to rules-based, coercive organizations.
- Employees who work at self-governing organizations are as much as five times more likely to observe that good ideas will get adopted.
- Values-based behaviors result in almost nine times the level of observed customer satisfaction.
- Employees at self-governing organizations are twice as likely to believe that their company has a good reputation among its customers.
- Employees at self-governing organizations are nearly three times more likely to refer a friend to their company.
• When viewed systemically, the four primary outcomes of a self-governing organization — less employee misconduct, greater innovation, employee loyalty and customer satisfaction — come together to synergistically deliver superior financial performance.
- There is strong statistical evidence that an interdependent, synergistic relationship exists between and among these outcome behaviors; so much so that they act in a reinforcing and systemic manner to impact financial performance.
- Employees in self-governing companies perceive a 15 percentage point and 40 percentage point advantage, respectively, in financially outperforming the competition compared to hierarchical or top-down companies.
• Trust, inspiration and significance can be measured and create a distinct competitive advantage.
- Only 9% of employees believe they work for a high-trust organization where there is little or no fear or coercion.
- Only 12% of respondents maintain that they work for companies where decisions are made based on long-term considerations. Nearly 60% said that short-term mindsets prevail.
- Over 90% of respondents work for organizations that do not create an atmosphere offering sufficient levels of information sharing. Additionally, 90% work for organizations that don't effectively foster coordination between departments and groups.
- Nearly 70% of respondents work for organizations fixated on traditional methods of success rather than on long-term significance.