Trucking Company Accused of Forcing Out Older Workers

May 11, 2012 (PLANSPONSOR.com) - Central Freight Lines Inc. agreed to pay $400,000 to settle an age discrimination lawsuit brought by the U.S. Equal Employment Opportunity Commission (EEOC).

According to the EEOC’s lawsuit, Central Freight Lines, Inc. discriminated against eight dockworkers by selecting them for termination because of their age in an August 31, 2007, reduction in force. The agency charged that the company used the reduction-in-force as a ruse to fire the dockworkers, some of whom had worked at the company for 20 or more years and were approximately 50 years old and older.  

A consolidated suit filed by the  EEOC and the private parties alleged that workers were called names like “grandpa” and other age-related slurs by their supervisor, who also had  been tasked with preparing a list of the men to be terminated. According to the EEOC, the company also changed its attendance and disciplinary policy so that the men, who had not had more than a few disciplinary write-ups, were suddenly put on corrective action and eligible for termination under the new policy.  

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The company then replaced the older employees with younger hires.  

In the consent decree, Central Freight agreed to pay $400,000 to the claimants and to train management and supervisory personnel at the Central Freight Dallas and Ft. Worth Terminals about equal-employment opportunity policies and procedures. The company will also commit to enforce a written policy against age discrimination.

Investors Admit to Not Saving Enough for Retirement

May 11, 2012 (PLANSPONSOR.com) – One in 10 Americans say retirement is not an attainable goal.  

According to a survey from Edward Jones, 32% of Americans identify financial issues, such as the need to focus on immediate expenses, as the rationale for their lack of savings.

Seventy-two percent of respondents between ages 18 and 34 believe they are not putting enough money towards retirement. The percentages dropped as the age of the respondents increased, with less than half of respondents (47%) 65 and older indicating they are not saving enough.

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The survey also found that household and family size has a clear impact on retirement savings. While the survey average shows 32% of Americans are grappling with too many current expenses to save for retirement, the percentage increases dramatically for respondents with children between ages 13 and 17, to 49%.

“While everyday expenses like education and housing are clearly necessary expenses for many Americans, this survey found that there is still almost one-third of respondents who point to fairly vague reasons for not saving enough, including those with concerns that saving for retirement is unattainable or that it’s too early to start,” said Scott Thoma, investment policy committee member at Edward Jones. 

Other key findings from the survey include:

•  Ten percent of respondents believe it is too early to start saving for retirement. Those in the 18- to 34-year-old range were the most likely to say so, with 23% responding accordingly.

•  Singles are the group most likely to say retirement is not attainable (23%).

•  Among the most affluent respondents (those making $100,000 a year or more), less than half (49%) believe they are saving enough for retirement.

•  Respondents in the Midwest were the most optimistic about their retirement savings levels, with more than one-third (37%) saying they believe they are saving enough for retirement.

 

The survey was conducted by Opinion Research Corporation is based on 565 telephone interviews of U.S. adults conducted between April 5 to 7, 2012.

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