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(NEW YORK, N.Y., December 19, 2006) – The 2006-2007 edition of the Of Counsel 700, an annual survey of the nation’s 700 largest law firms, shows an increase in this segment of the legal market of 2.5 percent in 2006, after several years of sluggish growth, with only a slight rise in 2005. The Of Counsel 700 is compiled by Of Counsel, a monthly law practice management report letter from Aspen Publishers, a part of Wolters Kluwer Law & Business (197 pages, $165).
The survey provides a wealth of data in an easy-to-use directory and shows how firms are growing or shrinking. A profession-wide listing by size shows the rank, firm name, home office and total number of lawyers in 2006 and 2005 for each of the top 700 firms.
This is followed by a state-by-state directory of the firms, with complete contact information. Additional information in this section for selected firms includes items such as: growth or shrinkage compared to last year; partner, associate and counsel numbers; billing rates; branch office sizes; numbers of hires and promotions; associate salaries; practice areas ranked by percentage of total practice along with practice group heads; revenues and profits; key personnel, including managing partners, executive directors and marketing directors; and representative clients.
The 2006-2007 edition of the Of Counsel 700 also contains analysis of the growth in the profession, notably in midsized firms, and an in-depth look at the expanding legal market in Las Vegas, Nev. Useful supplemental information includes a listing of law firm mergers, international offices and an alphabetical list of the top firms with their locations, phone numbers and 2006-2005 number of lawyers and rankings.
Of Counsel has distinguished itself by helping firm managers solve financial, business, and practice problems. Published monthly, it provides the cutting-edge insights American legal professionals need to maintain a competitive advantage in a global marketplace.
Vital topics include the fastest growing practice areas and the ones fading; regions where legal branch offices are opening and closing; how firms are using paralegals and billing and compensation numbers in every major legal market. In addition, corporate coverage details the changing strategies of the nation’s major in-house legal shops. Of Counsel subscribers also receive valuable surveys every year, including the acclaimed Of Counsel 700.
For more information or to order the 197-page 2006-2007 edition of the Of Counsel 700, call 1-800-638-8437 or visit www.aspenpublishers.com and select the category "Law Practice Management." Single copy price is $165.
Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals, as well as casebooks and study aids for law students. Its major product lines include Aspen Publishers, CCH, Kluwer Law International and Loislaw. Its markets include law firms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. Wolters Kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit www.wolterskluwer.com.
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(RIVERWOODS, ILL., December 18, 2006) – Now, there is a comprehensive one-stop online resource from Wolters Kluwer Law & Business for more than 800 Blue Sky law forms for professionals working in the field of securities. WK Forms for Blue Sky Law provides instant online access to an unparalleled collection of interactive securities forms for each state that can be completed and printed all from one common interface. Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals. Its major product lines include Aspen Publishers, CCH, Kluwer Law International and Loislaw.
WK Forms for Blue Sky Law uses advanced functionality to provided immediate access to more than 800 securities forms, instructions and continuation sheets. Users simply download the WK Forms software to the desktop – and from there can locate, view, fill out and print any form.
A subscription to WK Forms includes Uniform/Federal Filing Requirements, Blue Sky forms and instructions, and states securities administrator contact information for 54 jurisdictions (50 states, plus D.C., Guam, Puerto Rico and the Virgin Islands), as well as SEC, NASD and NASA forms and instructions. The annual subscription is updated automatically with any new or revised forms and instructions, to keep users current.
WK Forms for Blue Sky Law is intuitive, and offers numerous time-saving features that offer ease and flexibility when completing forms. Features allow users to:
- Save completed forms as PDF files;
- Add another page to a form with a single click;
- Access a calendar from the date fields;
- Access a calculator from the numeric fields;
- View forms and instructions from a single screen; and
- Fit text within a field with automatic font sizing.
An online demonstration of WK Forms for Blue Sky Law can be accessed at business.cch.com. For more information, including pricing, call 800-224-7377 to contact a sales representative.
Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals, as well as casebooks and study aids for law students. Its major product lines include Aspen Publishers, CCH, Kluwer Law International and Loislaw. Its markets include law firms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. Wolters Kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit www.wolterskluwer.com.
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(RIVERWOODS, ILL., December 11, 2006) – Now, there is a comprehensive one-stop online resource from Wolters Kluwer Law & Business for more than 500 forms required for government contracts. WK Forms for Government Contracting provides instant online access to an unparalleled collection of forms that can be completed and printed all from one common interface. Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals. Its major product lines include Aspen Publishers, CCH, Kluwer Law International and Loislaw.
A subscription to WK Forms for Government Contracting includes forms from a number of sources including:
- Federal Acquisition Regulation;
- Department of Defense FAR Supplement;
- Cost Accounting Standards Board;
- Office of Management and Budget; and
- Court of Federal Claims.
The forms are listed in numerical order, and also can be sorted by topic, such as pre-award, performance, modification, dispute, post award and closeout. The annual subscription service is updated automatically with any new or revised forms and instructions, to keep users current.
WK Forms for Government Contracting uses advanced functionality to provide immediate and easy access to more than 500 forms required for government contracting. Users simply download the WK Forms software to the desktop—and from there can locate, view, fill out and print any form.
WK Forms is intuitive, and offers numerous time-saving features that offer ease and flexibility when completing forms. Features allow users to:
- Save completed forms as PDF files;
- Find forms easily with category choices such as "pre-award" and "closeout";
- Add another page to a form with a single click;
- Access a calendar from the date fields;
- Access a calculator from the numeric fields;
- View forms and instructions from a single screen; and
- Fit text within a field with automatic font sizing; and,
- Link from forms to source documents, for subscribers of the CCH Government Contracts Reports.
Subscribers to the CCH Government Contracts Reports will have the new WK Forms for Government Contracting included in their subscription. The WK Forms product is also available as a standalone subscription purchase.
An online demonstration of WK Forms for Government Contracting can be accessed at business.cch.com. For more information, including pricing, call 800-224-7377 to contact a sales representative.
Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals, as well as casebooks and study aids for law students. Its major product lines include Aspen Publishers, CCH, Kluwer Law International and Loislaw. Its markets include law firms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. Wolters Kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit www.wolterskluwer.com.
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(RIVERWOODS, ILL., December 6, 2006) – More than one-quarter (27 percent) of eligible employees now elect COBRA coverage, with the claim amounts for COBRA recipients costing companies about 45 percent more than claim costs paid for active employees, according to the 2006 COBRA Survey by Spencer’s Benefits Reports, a leading research service for employee benefits plan administrators at organizations across the U.S. Spencer’s Benefits Reports is produced by Wolters Kluwer Law & Business.
"While this is among the highest percent of eligible employees to participate in COBRA since Spencer’s first conducted a COBRA survey in 1989, it is still a relatively low rate. This makes it clear that the more an individual has to pay, the less likely they are to buy coverage, and those who buy coverage are not, surprisingly, those who are sick or who anticipate high health costs. This means higher costs for employers in terms of claims compared to their overall active employee population," explained Stephen A. Huth, managing editor for Spencer’s Benefits Reports.
This is the 15 th survey of COBRA coverage Spencer’s has conducted since the 1986 enactment of the Consolidated Omnibus Budget Reconciliation Act (COBRA), which provides workers and their families who lose their health benefits due to certain circumstances (such as voluntary or involuntary job loss, reduced work hours, transition between jobs, death or divorce) the right to choose to continue group health benefits provided by their group health plan for limited periods of time. Qualified individuals may be required to pay the entire premium for coverage, plus up to 2 percent more for administrative costs.
The survey found that average annual COBRA costs for employers was $9,914 in 2006, compared to an average annual cost for active employees of $6,831, making coverage for COBRA 45 percent more costly than that for active employees. Compared to Spencer’s 2004 COBRA Survey, employer costs for both COBRA and active employees has increased 19 percent and 13 percent, respectively.
The survey also found that while administrative costs for COBRA varied significantly, the average cost was approximately $406 annually or about 4 percent of average claims costs.
The survey also examined what employers felt were the primary difficulties with the COBRA law. Not surprisingly, the top two concerns were cost. Employers indicated that the number-one concern is that beneficiaries can’t afford the coverage. The second leading concern is costs for employers, amplified because COBRA claim costs are significantly more than health claim costs employers pay for active employees. Other leading concerns included complexity of rules and laws, and communicating the plan to participants and beneficiaries. Rounding out the top concerns was difficulty employers had in collecting premiums.
"One of the leading areas of complexity for plan administrators is understanding the COBRA rules in relation to Medicare. There are specific COBRA rules that have to be followed and there are additional rules from the IRS to determine Medicare entitlement. A misstep here can leave an employee, spouse or dependent not covered or paying unnecessarily for coverage they don’t need," said Huth.
However, Huth also noted there are still positive aspects of COBRA that should not be overlooked.
"Even a voluntary, expensive and complicated system like COBRA has provided substantial benefits, with an estimated 4.7 million individuals annually receiving coverage to which they may not otherwise have access," he said. "It’s also provided the bridge in the insurance gap for individuals who want to take early retirement and enabled job mobility to employees who may otherwise not move to a more desirable job for fear of losing health insurance."
The 2006 COBRA survey of plan administrators, conducted via the Internet and e-mail, represents the responses of 122 organizations with more than 441,000 employees across the U.S.Spencer's Benefits Reports has been conducting the survey since 1989 and it is the only national survey of COBRA conducted regularly. Spencer's Benefits Reports is available as an annual online subscription. To order, call 1-800-449-9525.
Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals, as well as casebooks and study aids for law students. Its major product lines include Aspen Publishers, CCH, Kluwer Law International and Loislaw. Its markets include law firms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. Wolters Kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit www.wolterskluwer.com.
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(RIVERWOODS, ILL., November 28, 2006) – As another flu season gets under way, employers are increasingly concerned about the threat sick employees pose in the workplace. According to the findings of the 2006 CCH Unscheduled Absence Survey, 56 percent of employers now report that "presenteeism," when sick employees show up for work, is a problem in their organization, up from 39 percent just two years ago. As those who catch the flu also pass it along, CCH highlights the important steps employers can take to avoid presenteeism and keep a healthier workplace during flu season and throughout the year. CCH is a leading provider of human resources and employment law information and services and a part of Wolters Kluwer Law & Business (hr.cch.com).
"Presenteeism is a concern for employers not only because it lowers an employee’s productivity, but because that employee can pass along contagions to other workers and customers," said CCH Employment Law Analyst Brett Gorovsky, JD. "Employers need to understand why employees are coming to work sick and what they can do to help address this – whether it’s adapting policies, educating employees and managers or taking some other steps to make it clear that while they need employees at work, they also want a healthy workforce and workplace."
There are many reasons why employees don’t stay home to recuperate, including being overworked, considering themselves too devoted to the company, saving time off for future use or being strongly discouraged by their company from taking sick time.
Having too much work / fear of missing deadlines was the most common reason sick employees come in to work, mentioned by 66 percent of respondents to the CCH survey. The lack of anyone to cover a sick employee’s workload was cited by 56 percent of respondents, and company loyalty was a factor in 36 percent of presenteeism situations.
But not wanting to use vacation time and trying to save sick time for later in the year also were common reasons sick employees are at work, cited 50 percent and 41 percent of respondents, respectively.
Of particular concern are the numbers of employees who are showing up for work ill because either they want to avoid disciplinary action or their company discourages taking sick time. Forty-six percent of survey respondents cited fear of discipline as a reason why employees come to work sick, while 25 percent report their company culture discourages using sick days.
"If an employer takes disciplinary action regardless of the circumstances when an employee exceeds a sick-day limit, then an employee who has been out with the flu for several days may choose to come into work sick rather than risk disciplinary action," Gorovsky explained. "Given that the height of flu season is at the beginning of the year in most parts of the country, employees are particularly concerned about using all of their sick time early in the year. Employers need to be particularly careful that their policies are not encouraging the wrong behavior, which can be counterproductive to a healthy workforce and have costly consequences."
The 2006 CCH Unscheduled Absence Survey found, however, that disciplinary action is still the number one absence control program, used by 97 percent of employers to help control high rates of employee absences.
At the same time, employers are taking steps to help overcome the rise in presenteeism, according to the CCH survey. A majority of companies (62 percent) with presenteeism problems report that they try to combat the issue by sending sick employees home; 46 percent educate employees on the importance of staying home when they are sick; 36 percent foster a culture that discourages workers from coming in sick; 22 percent permit employees to telecommute when they are sick; and 9 percent report they give employees an unlimited number of sick days.
More employers are also allowing employees to carry over unused sick time from one year to the next, with 44 percent of employers now allowing this, compared to 38 percent in 2005. Also on the rise are Paid Leave Bank programs, also known as Paid Time Off (PTO), which combines all time off into a single bank of days to be taken in the way that best meets an employee’s needs. According to the CCH survey, 70 percent of employers now offer PTO programs.
"With a PTO program, employees have more control over how to use time off, helping to eliminate the fear of depleting sick days early in the year," Gorovsky noted. "But it’s apparent that companies need to take multiple steps to combat presenteeism if they’re going to address all the different reasons workers show up for work sick."
Among the steps CCH notes employers can take to help ensure a healthier workplace and minimize disruptions during flu season:
- Offer a flu-vaccination program: Sixty-four percent of organizations CCH surveyed now sponsor flu-shot programs for employees, up from 61 percent in 2005.
- Tap your employee assistance program and healthcare support services: Determine if they offer a hotline or web site your employees can use to access FAQs and get guidance and information about healthcare issues.
- Establish and communicate guidelines: Help employees understand under what conditions they should stay home, and when it’s safe to return to work. For example, the Center for Disease Control and Prevention (CDC) estimates individuals who get the flu may be able to infect others from the day before their symptoms develop, to five days after becoming sick.
- Provide tips on how to avoid spreading germs – a good source is the CDC: http://www.cdc.gov/flu/protect/stopgerms.htm#GoodHealthHabits. Use posters or offer the information on your corporate intranet.
- Ensure absence control polices are not counterproductive: Programs such as disciplinary action need to be assessed to ensure they don’t unnecessarily pressure sick employees to report for work.
- Foster a healthy environment: Ensure managers are fostering an environment in which ill employees feel comfortable asking to leave the workplace or, better yet, not report to work in the first place.
- Set a good example: Managers should be urged not to come in sick as employees may then see the message to "stay at home" as lip service
- Work with employees and your facilities group to keep common areas clean: Make sure these areas are cleaned regularly; this may even include cleaning conference rooms between meetings.
- Recognize helpful employees: Consider bonuses, rewards or other recognition for employees who step in to help do extra work for ill colleagues
The 2006 CCH Unscheduled Absence Survey, which surveyed 326 human resource executives in U.S. organizations, found that the rate of unscheduled absences has increased to its highest level since 1999 and can costs employers as much as $850,000 annually in direct payroll costs. Findings related to the cost, rate and reasons for unscheduled absences were released in late October and are available on the CCH press center at www.cch.com. The survey was conducted for CCH by Harris Interactive.
Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals, as well as casebooks and study aids for law students. Its major product lines include Aspen Publishers, CCH, Kluwer Law International and Loislaw. Its markets include law firms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill. The Law & Business human resources site is hr.cch.com.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. Wolters Kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit www.wolterskluwer.com.
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(RIVERWOODS, ILL., November 16, 2006) – CCH has launched a new blog — Trade Regulation Talk – as a forum to discuss antitrust and trade regulation law in its various forms and related fields such as franchise and distribution law, consumer protection, advertising law and civil RICO. The new blog, at http://traderegulation.blogspot.com, draws on the editorial resources of CCH, a leading provider of trade regulation and business compliance information and services and part of the Wolters Kluwer Law & Business group.
The driving force behind the blog is John W. Arden, JD, Executive Editorial Director of CCH’s Trade Regulation Group. With over 25 years experience following antitrust and trade regulatory issues, Arden is in a unique position to discuss current developments and trends in this legal area. This blog is the vehicle for Arden, and his staff of legal professionals who analyze and report on developments in trade regulation, to highlight news and events and to comment in an informal way.
Surveying the communications landscape today, Arden thought that a blog would be an interesting way to connect with practitioners, customers and colleagues.
"A blog will enable us to post news in real time and receive responses almost immediately. The casual nature of a blog will allow us to comment more informally about policies and trends and will facilitate discussion among practitioners, government enforcers, students and scholars," Arden explained.
The blog covers a wide range of issues. Antitrust decisions, spamming, foreign franchise law, liquor distribution, telemarketing and FTC merger enforcement have all been subjects of recent postings.
"While practitioners may specialize in a field such as antitrust, franchising, or advertising law, their interests tend to extend into neighboring areas," Arden noted.
According to Arden, a basic premise of the blog is that contemporary legal research is performed in various formal and informal ways. In addition to using traditional research methods, lawyers may consult electronic newsletters, practice area listservs, legal news web sites and specialized blogs.
"We invite practitioners and others involved in antitrust and trade regulation to visit the blog and contribute to the discussion. Our goal is to become part of professionals’ routine for online information gathering and information sharing," Arden said.
Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals, as well as casebooks and study aids for law students. Its major brands include Aspen Publishers, CCH, Kluwer Law International and Loislaw. Its markets include law firms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. Wolters Kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit www.wolterskluwer.com.
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(NEW YORK, N.Y., November 15, 2006) – Kluwer Law International, the leading English-language international law publisher, has launched the Global Trade and Customs Journal, a brand new resource designed to meet the practical needs of professionals working in today’s challenging legal and regulatory trade and customs environment. Along with Aspen Publishers, Loislaw and CCH, Kluwer Law International is part of Wolters Kluwer Law & Business (www.kluwerlaw.com).
Published 10 times a year, Global Trade and Customs Journal is designed to be the ideal working tool for international trade and customs lawyers and consultants; trade compliance and customs personnel; and importers and exporters who want to stay ahead of legal and compliance-based developments.
"The Journal’s primary aim is to keep practitioners up-to-date and offer reliable guidance and actionable advice to ensure that they are able to protect their clients, companies or organizations from developments that could adversely affect their interests," said Edwin Vermulst, main editor of Global Trade and Customs Journal, a leading trade lawyer and a member of the faculty of the World Trade Institute in Bern.
Every issue of Global Trade and Customs Journal provides new ideas, fresh insights and practical advice on key topics impacting trade and customs. In each edition, widely respected experts provide reliable guidance on critical areas of real-world concern and offer action-oriented counsel on key topics such as:
- What you need to do to prepare for the phase-out of quotas and safeguards on Chinese imports;
- Ten things you can do now to avoid dumping allegations;
- Maximizing cost-saving opportunities under free trade agreements;
- Structuring a global export compliance program: learning from success stories;
- How to maximize duty-saving opportunities through valuation;
- European import/export compliance: what you need to know about record retention;
- How to protect IP rights through customs procedures;
- Incoterms: what every compliance professional needs to know; and
- Anticipating a knock at the door: what you must know about the U.S. Compliance Assessment Team Program.
A single user print or online annual subscription to the Journal is priced at €425/$531/£312.
To request a free sample issue of Global Trade and Customs Journal, email:marketing@kluwerlaw.com or telephone (+31) 172 64 1562.
Kluwer Law International (www.kluwerlaw.com), the leading English-language international law publisher, is part of Aspen Publishers, and along with Loislaw and CCH, is part of Wolters Kluwer Law & Business. Kluwer Law International has offi ces in London and the Netherlands.
Wolters Kluwer Law & Business provides research products and software solutions in key specialty areas for legal and business professionals. These areas include: securities and corporate governance; antitrust; banking and fi nance; international law; pension, payroll and benefi ts; human resources, labor and employment; Medicare and healthcare compliance; tax law and legal education. Its markets include law fi rms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, fi nancial services, legal and regulatory, and education sectors. Wolters Kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America, and Asia Pacifi c. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit www.wolterskluwer.com.
(NEW YORK, NY, November 14, 2006) – Recent hurricanes and other disasters have demonstrated serious gaps in the legal system and its ability to respond to such events. Now, Aspen Publishers,part of the Wolters Kluwer Law & Business group, has announced the publication of Disasters and the Law: Katrina and Beyond, a new legal resource that provides expert insight into disaster response, prevention and mitigation strategies. Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals, as well as casebooks and study aids for law students.
Integrating knowledge and experience from fi elds as diverse as urban planning, bankruptcy law and wetlands law, two leading experts – University of California, Berkeley School of Law Professor Dan Farber and University of Minnesota Professor of Law Jim Chen – provide an indepth look at the legal process in disaster response and reconstruction.
"Innovative policies are needed if society is to deal effectively with the aftermath of disasters, and the risk of future ones, and although this book was conceptualized for the law school curriculum its message strikes a chord for all lawyers interested in effectively managing the legal implications of these events," said Wolters Kluwer Law & Business product manager Jennifer Armstrong.
At fi rst glance, disaster law seems to be nothing but a collection of legal rules that happen to come into play when communities have suffered severe physical damage. But at a deeper level, disaster law is about assembling the best portfolio of legal rules to deal with catastrophic risks – a portfolio that includes prevention, emergency response, compensation and insurance,and rebuilding strategies.
A comprehensive resource, Disasters and the Law: Katrina and Beyond examines a wide range of issues and engages in provocative discussion of such topics as:
- The goals and limits of Federal and military involvement in civilian and domestic support and our expectations of a swift and multi-layered response from government in times of a crisis versus government and private sector capabilities;
- Medicaid issues and current federal legislation related to Medicaid and Hurricane Katrina relief efforts;
- Environmental issues such as the Army Corps of Engineers' work on levee construction and the controversy over environmental litigation’s role in the Corps' projects, as well as the future reconstruction on fl oodplains; and
- Issues concerning health care, communications, law enforcement and evacuation.
Past responses to Hurricane Andrew, the terrorist attacks of September 11 and the Loma Prieta Earthquake also are discussed along with a history of U.S. disaster response efforts.
For more information or to order Disasters and the Law: Katrina and Beyond (348 pages,$35.00), visit www.aspenpublishers.com or call 1-800-950-5259.
Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals, as well as casebooks and study aids for law students. Its major product lines include Aspen Publishers, CCH, Kluwer Law International and Loislaw. Its markets include law fi rms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. Wolters Kluwer has annual revenues (2005)of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America, and Asia Pacifi c. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit www.wolterskluwer.com.
(RIVERWOODS, ILL., November 14, 2006) – As employees evaluate their health care options during this year’s benefits enrollment period, twice as many are being presented with health savings account (HSA) or health reimbursement arrangement (HRA) options compared to 2005, according to findings from the 2006 Spencer Survey of Consumer-Driven Health Plans. The survey was conducted by Spencer’s Benefits Reports, a leading research service produced by Wolters Kluwer Law & Business for health benefits plan administrators at organizations across the U.S. The survey further found that the average annual per employee cost for health care was more than $6,700, and, not surprisingly, the single most important reason employers are moving to consumer-driven health plans (CDHPs) is to reduce their costs.
"Clearly, reining in escalating company costs for health care is the leading motivator for employers in offering consumer-driven plans,"said Stephen A. Huth, managing editor for Spencer’s Benefits Reports. "But the survey also shows companies are thinking about the near-term and long-term health needs of employees."
Specifically, the survey found that the number of employers offering an HSA has increased from 12 percent in 2005 to 28 percent this year and the number offering an HRA has increased from 9 percent to 18 percent in 2006. More companies now also offer flexible spending accounts (FSAs), with 64 percent of employers now offering this option, up from 57 percent last year.
However, while more firms now offer CDHPs, their popularity among employees remains low. The survey found that the average participation rate in HSAs by employees in companies offering these plans is only 3 percent.
"None of the companies offering an HSA were doing so as a total replacement and most offered at least one lower-deductible PPO or HMO plan as well," said Huth.
In companies offering HRAs, the average participation rate is 5 percent, and 21 percent of employees participate in FSAs, according to the survey.
Despite slow employee adoption, more employers still plan to offer additional CDHP options over the next 12 months, with 55 percent reporting they will offer FSAs, 41 percent HSAs and 23 percent HRAs.
While the survey found that the annual per employee cost for health care varied significantly by company, the average overall annual cost was $6,709. The top three reasons cited most often for moving to a CDHP were reducing employer costs, identified by 41 percent of respondents; providing a savings vehicle for employees, given by 19 percent of respondents; and offering more choices to employees, chosen by 16 percent of employers.
"Company costs for health care is a leading concern for employers, but they also appear to be concerned about offering employees choices, both in terms of offering more options for their current health care as well as new ways to save for future health costs," said Huth.
The 2006 survey of HR and benefits professionals, conducted via the Internet and email, represents the responses of 121 organizations with more than 440,000 employees across the U.S. Spencer’s Benefits Reports has been conducting the survey annually since 2004. Spencer’s Benefits Reports is available as an annual online subscription. To order, call 1-800-449-9525.
Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals, as well as casebooks and study aids for law students. Its major product lines include Aspen Publishers, CCH, Kluwer Law International and Loislaw. Its markets include law firms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. Wolters Kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit www.wolterskluwer.com.
October 31, 2006 – Today Aspen Publishers announced the release of AspenLaw Studydesk, productivity software designed specifically for law school content and tasks. The product’s retail price is $39.95 and is available for download via their digital products website www.AspenLaw.com.
AspenLaw Studydesk Key Features:
- Templatesreinforce the practices taught in class and help students maintain a uniform format for their notes and briefs.
- Filing Toolsencourage organizational discipline so students can store, display, and easily find information for class and home study.
- A Legal Conceptsindex lets students tag notes, briefs, and other content to legal concepts and instantly link from class notes to definitions and terms throughout the application.
- Search toolsgive students the ability to perform quick lookups on their data and integrated Aspen Publishers’ content.
- Flashcard and Quiz wizardsallow students to quickly and easily create study tools from their own notes and briefs.
- An Outlining wizard enables students to crawl through course documents, drag and drop, sort, fine tune, preview, and save right in AspenLaw Studydesk.
The current release of AspenLaw Studydesk supports Microsoft Windows 2000 Professional, Windows XP, and Windows XP Media Center operating systems. A Macintosh OS version of the application is planned for release during the summer of 2007.
Aspen Publishers titles available for use in the current version of the application include select Case Notes Legal Briefs, Emanuel Law Outlines, Law in a Flash cards, and more. Information about specific titles can be found by browsing the digital products catalog. Additional titles will be available in the near future.
Students can try the application for 60 days by registering for a free trial download here. The trial version contains all of the application’s functionality for a full 60 days, enabling students to evaluate the software before making a purchase decision.
Professors can request a free instructor’s copy of the software and more information about using AspenLaw Studydesk with their students by contacting legaledu@wolterskluwer.com
Contact Information
(RIVERWOODS, ILL., October 27, 2006) – CCH, a part of Wolters Kluwer Law & Business and a leading provider of business compliance information, software and services is presenting a two-hour audio conference entitled "Employment Verification: Your ‘Get Out of Jail’ Card?" featuring a leading attorney in the field. The audio conference will be offered on Thursday, November 2, at 2 p.m. Eastern, 1 p.m. Central (hr.cch.com/audio).
"Reform" proposals pending in Congress and regulations proposed by U.S. Immigration and Customs Enforcement (ICE), the Department of Homeland Security’s largest investigative branch, both point toward increasing the burden on employers to verify their employees’ work authorization. Prudent employers want to be in compliance, but it’s difficult to know which rules and regulations to comply with. Noted immigration attorney David C. Whitlock will lay out what is really going on inside the immigration debate. Employers will find out what they can do to stay ahead of the curve with respect to any legislation passed by Congress and how to comply with ICE’s regulations and other obligations under current immigration law.
Specific topics to be covered include:
- Will current employees have to be verified again? How? When?
- What will employers have to do if current employees are undocumented immigrants?
- How will guest workers be "welcomed”?
- Will quotas help or hurt?
- What needs to be done with respect to current legal immigrants? Must they be sponsored? Who pays?
- How should employers fix incorrect Social Security account information? Must corrections be made?
- What needs to be done with the SSA "no-match"letter?
The seminar will include a live question-and-answer session.
About the Speaker
David C. Whitlock is a partner in the Atlanta office of Fisher & Phillips and the chief information officer of Prevention Point, a human resources consulting affiliate company of Fisher & Phillips LLP. Whitlock is head of Fisher & Phillips’ Immigration Business Practice Group. His practice is focused on immigration and nationality law. Whitlock is a member of the American Immigration Lawyers Association. He was selected a "Georgia Super Lawyer, Immigration"in 2004 and is listed in Chambers USA, America’s Leading Business Lawyers 2006.
How the Audio Seminar Works
CCH’s live audio seminars require nothing more than a telephone connection. For the $249 per site fee, an unlimited number of listeners at a site can participate and get up to speed and in-the-know on this important topic.
Special Bonus
Along with detailed handout materials, each site registering for this audio seminar will have 60-day access to a streamed audio recording of the event, a $249 value.
How to Register
To register online using a credit card go to hr.cch.com/audio. To register by phone, call CCH Customer Service at 1-800-775-7654. Please have your credit card information ready.
About Wolters Kluwer Law & Business
Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals, as well as casebooks and study aids for law students. Its major product lines include Aspen Publishers, CCH, Kluwer Law International and Loislaw. Its markets include law firms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. Wolters Kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit http://www.wolterskluwer.com.
(RIVERWOODS, ILL., October 26, 2006) – With the rate of absenteeism on the rise, U.S. employers are losing ground when it comes to finding effective programs that keep healthy workers on the job, according to the 16th annual CCH Unscheduled Absence Survey by CCH, a leading provider of human resources and employment law information and services and a part of Wolters Kluwer Law & Business (hr.cch.com). The 2006 CCH survey found that the rate of unscheduled absenteeism climbed to its highest level since 1999, costing some large employers an estimated $850,000 per year in direct payroll costs, and even more when lost productivity, morale and temporary labor costs are considered.
What continues to be of most concern to employers is that almost two out of three employees who fail to show up for work aren't physically ill, according to the CCH 2006 survey. The survey found that Personal Illness accounts for only 35 percent of unscheduled absences, while 65 percent of absences are due to other reasons, including Family Issues (24 percent), Personal Needs (18 percent), Stress (12 percent) and Entitlement Mentality (11 percent).
"Organizations are engaged in a tug of war for their employees' time. With unscheduled absences trending upward, companies need to get a good understanding of why employees are calling in sick at the last minute, what impact this has on other employees who are expected to pick up the slack, as well as the impact it has on customers and anyone else relying on the absent worker," said CCH Employment Law Analyst Pamela Wolf, JD. "Armed with this understanding, companies can most effectively assess both the hard and hidden costs of absenteeism and better identify what programs can be used to keep employees on the job."
According to the 2006 CCH Unscheduled Absence Survey, conducted for CCH by Harris Interactive®, the absenteeism rate was 2.5 percent in 2006 up from 2.3 percent last year, and the highest since 1999, when the rate was 2.7 percent.
The CCH Unscheduled Absence Survey, conducted annually by CCH for the past 16 years, is the definitive survey on absenteeism in the workplace, measuring the rate, cost and reasons associated with unscheduled absence in the U.S.
Low Morale Leads to More Unscheduled Absences
The effect of morale continues to be reflected across the board in the 2006 CCH Unscheduled Absence Survey. The survey found that employee morale can affect a company’s absenteeism rate, with organizations with Good/Very Good morale experiencing a 2.2 percent rate of unscheduled absences while those reporting Poor/Fair morale had a rate of 2.9 percent.
Morale also influences the reasons people call in sick at the last minute, with 70 percent of unscheduled absences attributed to reasons other than Personal Illness for organizations with Poor/Fair morale, compared to 60 percent for those with Very Good/Good morale. In particular, organizations reporting Poor/Fair morale were more likely to experience unscheduled absenteeism due to Stress (15 percent) than organizations reporting morale as Good/Very Good (10 percent). Also, while 23 percent of organizations reporting Good/Very Good morale believe that unscheduled absenteeism is a serious problem for them, twice as many (46 percent) organizations reporting low morale find it to be a serious issue.
Additionally, nearly twice as many companies with Poor/Fair morale (33 percent) reported an increase in unscheduled absences over the past two years while only 17 percent of those with Good/Very Good morale reported an increase. And, the outlook by organizations with low morale is equally bleak. Thirty-eight percent of employers in organizations with Poor/Fair morale believe unscheduled absences will increase in the next two years. Only 14 percent of employers in companies with Good/Very Good morale shared this concern.
Organizations Search for Solutions
Overall, companies are concerned about the impact of unscheduled absenteeism, with one-third reporting that it is a "serious problem," and nearly all employers (92 percent) stating that they think the problem may stay the same or worsen in the next two years. As a result, it is not surprising to see an upward trend in the use of work-life and absence control programs. Survey results indicate, however, that companies remain challenged in making sure they have the most effective programs in place to meet employee needs. In some cases, the CCH survey found that the programs employers view as most effective in combating unscheduled absenteeism are not the programs that are most used.
Work-life Programs
The 2006 CCH Unscheduled Absence Survey found that U.S. companies now offer an average of 11 work-life programs, up from nine in 2005 and eight in 2004.
Of the work-life programs offered by employers, the top five in use recognize that helping employees manage the many aspects of their busy lives is increasingly important. These programs are Employee Assistance Plans (76 percent), Wellness Programs (67 percent), Leave for School Functions (65 percent),Flu Shot Programs (64 percent) and Alternative Work Arrangements (63 percent).
As to the five work-life programs rated most effective, companies ranked Alternative Work Arrangements, Leave for School Functions, Compressed Work Week and Telecommuting as equally effective (each at 3.4 on a scale of 1-5, with 5 being most effective), with Emergency Child Care rounding out the top five (at 3.3).
"The fact that only two of the programs companies rated as most effective — Alternative Work Arrangements and Leave for School Functions — were on the top five most used list is a good indication that the time may be right for employers to step back and assess if they have the most effective programs in place," said Wolf. "Only by doing this can companies ensure that their investments in providing these programs are achieving the desired business result."
In general, the survey also found an upward trend across-the-board in the number of employers who make various work-life programs available to their employees.
"The trend upwards in programs that offer flexibility on how and when work gets done is an indication that more workplaces are trying to accommodate the needs of different employees, for example working parents with young children and baby boomers who, as they start reaching retirement age, may be interested in staying in the workforce, but also need or want additional flexibility to accommodate other interests," said Wolf.
Recognition of employees' struggles for caring for both children and parents is evident in the increased adoption of programs offering care support. Most significant, the number of employers offering Elder Care Services increased from 34 percent in 2005 to 42 percent in 2006, and the number of employers offering On-site Child Care increased from 33 percent to 42 percent while the number offering Emergency Child Care rose from 33 percent to 44 percent.
Also on the upswing were programs helping employees maintain physical and emotional well-being. In addition to Employee Assistance Programs, WellnessPrograms and Flu Shot Programs, this included Fitness Facilities (59 percent), On-site Health Services (48 percent) and Sabbaticals (47 percent).
"For employees, it’s great news that companies are being more flexible and offering a wider array of services," said Wolf. "But organizations must use due diligence to ensure they truly understand the needs of their workforce and are providing strong programs that effectively meet those needs. Otherwise, they may find themselves with programs that fail to help employees achieve the work-life balance they need, and therefore fail to show a return on investment."
Effectiveness and Use of Work-life Programs
|
Work-life Program |
Effectiveness Rating
(1: Not Very Effective to
5: Very Effective) |
Percent Use |
|
Leave for School Functions |
3.4 |
65% |
|
Alternative Work Arrangements |
3.4 |
63% |
|
Telecommuting |
3.4 |
59% |
|
Compressed Work Week |
3.4 |
58% |
|
Emergency Child Care |
3.3 |
44% |
|
Employee Assistance Plans |
3.1 |
76% |
|
Flu Shot Programs |
3.1 |
64% |
|
On-site Child Care |
3.1 |
42% |
|
Wellness Programs |
3.0 |
67% |
|
Job Sharing |
3.0 |
51% |
|
Satellite Workplaces |
3.0 |
49% |
|
Fitness Facility |
2.9 |
59% |
|
On-site Health Services |
2.9 |
48% |
|
Sabbaticals |
2.9 |
47% |
|
Elder Care Services |
2.7 |
42% |
Absence Control Programs
Employers report they use an average of sixabsence control programs, unchanged from 2005. Disciplinary Action remains the single-most used absence control program, with virtually all (97 percent) surveyed organizations reporting its use. The other leading absence control programs in use are Yearly Review (82 percent), Verification of Illness (79 percent), Paid Leave Banks (70 percent) and Personal Recognition (68 percent).
The use of Paid Leave Banks (also known as Paid Time Off) rose three percentage points from 2005 to 2006, continuing its rise in use over the past several years. Paid Leave Banks provide employees with a bank of hours to be used for various purposes instead of traditional separate leave programs for sick, vacation and personal time. Each of the other absence control programs saw a slight increase in adoption rates.
The survey found Paid Leave Banks also continued to be seen as the most effective absence control program, with a 3.7 rating. Other top programs included Buy Back (3.4), Disciplinary Action and Bonus (3.3).
Again, the survey found a lack of alignment between what employers are using and what they deem to be most effective. The survey found that the second most highly effective program, Buy Back, is the least used by companies, while the Bonus program, also found to be on the most effective list, comes in next-to-last place for programs being used.
Effectiveness and Use of Absence Control Programs
|
Absence Control Program |
Effectiveness Rating
(1: Not Very Effective to
5: Very Effective) |
Percent Use |
|
Paid Leave Banks |
3.7 |
70% |
|
Buy Back |
3.4 |
59% |
|
Disciplinary Action |
3.3 |
97% |
|
Bonus |
3.3 |
61% |
|
Yearly Review |
2.9 |
82% |
|
Verification of Illness |
2.9 |
79% |
|
No Fault |
2.8 |
67% |
|
Personal Recognition |
2.7 |
68% |
"Organizations also need to be cautious that the programs they use to control absences do so without any unintended consequences," said Wolf. "Disciplinary Action can be effective up to a point, but it can also encourage the wrong behavior if the result is that individuals who are ill come to work sick – a problem known as presenteeism."
"Programs such as Paid Leave Banks, on the other hand, provide employees with more control over how they use their time, which in the long-run can help ensure they’re not calling in sick at the last minute when they’ve known for some time that they’ve had a commitment outside the office – whether it is to address personal needs or attend to a family issue," Wolf added.
Presenteeism: Sick Employees Can Weaken the Bottom Line
The problem of presenteeism – when employees come to work even though they are ill and pose problems of contagion and lower productivity – is an area of growing concern for organizations. More than half (56 percent) of employers surveyed reported that presenteeism is a problem in their organizations, up from 48 percent last year and 39 percent the year prior.
Here again, morale makes a difference. Despite higher rates of unscheduled absenteeism overall, companies with low morale also have more ill workers showing up for work. In fact, 63 percent of organizations with Poor/Fair morale reported presenteeism is a problem, while 50 percent of organizations reporting Good/Very Good morale see it as an issue.
"Presenteeism can take a very real hit on the bottom line, although it is often unrecognized. After all, the employee is at work. But if he doesn’t feel well, he is not going to be as productive and the quality of work will suffer," said CCH Employment Law Analyst Brett Gorovsky, JD. "Meanwhile, he may be spreading illnesses to other employees further adding to the problem. So the indirect costs are high while often not captured."
With flu season looming, employers should consider what they can do to combat sick workers on the job. The 2006 CCH survey asked employers what they are doing to reduce presenteeism. Sixty-two percent of the organizations reported they send sick employees home, while 46 percent educate employees on the importance of staying home when sick and 36 percent try to foster a culture that discourages employees from coming to work sick.
There is also a concern, however, that some traditional absence control and sick day policies may inadvertently encourage employee presenteeism.
Organizations that adhere to traditional sick day policies, and take disciplinary action to enforce them, may be making it difficult for employees to do the right thing. If, for example, an organization allows each employee five sick days a year, and takes disciplinary action on the sixth absence, an employee who has been wiped out with the flu for several days early in the year may choose to come to work ill rather than risk the discipline.
Some employees can offset the risk of a poor health year if their employer allows them to carry over the sick days that they didn’t use in healthier years. Only 44 percent of organizations surveyed by CCH, however, allow employees to carry over sick time from one year to the next – a decline from 51 percent in 2000. Meanwhile, the number of companies allowing employees to donate unused earned days to a leave bank for employees suffering from catastrophic illness, while still low, is on the rise with 29 percent of organizations allowing this compared to just 23 percent a year ago.
Having a Paid Leave Bank program is an effective way employers can help manage the problem of presenteeism. With PTO, the employee has more discretion as to how to use an entire bank of days, so if she’s sick, she can take a day from the bank and stay home, without the fear of being reprimanded or running out of sick days.
About the Survey
The 2006 CCH Unscheduled Absence Survey covering 326 human resource executives in U.S. companies and organizations of all sizes and across major industry segments in 47 states was conducted online by Harris Interactive® , a leading global market research and consulting firm, from June 28 through July 17, 2006. The survey reflects experiences of randomly polled organizations with an estimated total of nearly five million employees. The CCH Human Resources Management Ideas & Trends newsletter sponsored the survey.
The data were weighted to reflect industry distribution as represented in the Society for Human Resource Management and by size based on U.S. census company size data. In theory, with probability samples of this size, one can say with 95 percent certainty that the overall results have a sampling error of +/-5.5 percentage points. Sampling error for the various sub-sample results is higher and varies. This online sample was not a probability sample.
Mean absence rates were calculated by dividing total paid-unscheduled absence hours by total paid-productive hours. Scheduled absences, such as vacation, legal holidays, jury duty, personal time and bereavement leave, were not included. Costs to companies only reflect the direct payroll costs for absent employees; the associated costs of overtime pay for other employees, hiring temporary employees to cover for absent workers, low morale and lost productivity add to the considerable financial impact on an organization.
To Obtain a Copy of the Survey
To order the CCH Human Resources Management Ideas & Trends newsletter containing the 2006 CCH Unscheduled Absence Survey, call 1-888-CCH-REPS and ask for offer number 0-5855-301 or buy from the CCH online store at http://onlinestore.cch.com. Price is $39.95 plus tax, shipping and handling.
About Harris Interactive
Harris Interactive is the 12 th largest and fastest-growing market research firm in the world. The company provides research-driven insights and strategic advice to help its clients make more confident decisions which lead to measurable and enduring improvements in performance. Harris Interactive is widely known for The Harris Poll, one of the longest running, independent opinion polls and for pioneering online market research methods. The company has built what could conceivably be the world’s largest panel of survey respondents, the Harris Poll Online. Harris Interactive serves clients worldwide through its United States, Europe and Asia offices, its wholly-owned subsidiary Novatris in France and through a global network of independent market research firms. The service bureau, HISB, provides its market research industry clients with mixed-mode data collection, panel development services as well as syndicated and tracking research consultation. More information about Harris Interactive may be obtained at www.harrisinteractive.com .
About Wolters Kluwer Law & Business
Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals, as well as casebooks and study aids for law students. Its major product lines include Aspen Publishers, CCH, Kluwer Law International and Loislaw. Its markets include law firms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill. The Law & Business human resources site is hr.cch.com.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. Wolters Kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit www.wolterskluwer.com.
Contact Information
(RIVERWOODS, ILL., October 23, 2006) – Highly-paid wage earners will see a moderate increase in the wage base on which Social Security taxes are due for 2007, according to CCH, a leading provider of tax and payroll information and software (hr.cch.com). The 2007 wage base of $97,500 is $3,300 higher than the 2006 amount, and the maximum additional Social Security tax that might be collected on someone earning above the 2006 wage base is $204.60. This is the second largest increase since 2002 in both dollars and in percentage, and reflects the second largest increase in national average wages since 2000.
The tax increase will show up in the amount of FICA (Federal Insurance Contribution Act) tax deducted next year from the paychecks of those earning above the 2006 wage base. Although the tax rate for the Old-Age, Survivors and Disability Insurance (OASDI) portion of FICA has held steady at 6.2 percent since 1990, the amount of wages subject to the tax can, and usually does, increase each year, based on a national wage index. The taxes paid by employees are matched by identical amounts paid by employers into the Social Security system.
The tax rate for the "Hospital Insurance,"or Medicare, portion of FICA is 1.45 percent, and it applies to every dollar of earnings. This amount also is matched by employers.
"Taxes for self-employed individuals use the same earnings base, but the rates are double those of employees, since the self-employed must also pay the ‘employer’ portion of the taxes,"said Avram Sacks, JD, CCH Social Security law analyst.
"This means that high-earning, self-employed individuals may owe as much as $409.20 in additional self-employment tax in 2007,"Sacks said. "However, they can recoup some of this amount through a deduction on their federal income tax.”
About 11 million workers will be affected by the higher wage base in 2007.
Increase Less Than Estimated
The wage base for 2007 is $900 less than the highest estimated increase published in the 2006 Annual Report of the Board of Trustees of the Federal OASDI Trust Funds issued in May of this year. The 2007 wage base reflects national average wages for 2005, the variable upon which the 2007 wage base formula is based. The 2005 national average wage index of $36,952.94 is 3.5 percent higher than the 2004 national average wage index, and is the second highest increase since 2000.
"This is about 1 percent less than the increase predicted in two of the three scenarios presented by the Social Security trustees in their May report,"Sacks noted.
Consequences for Revenues, Benefits
"The wage base also is a benefits base,"Sacks noted. "Only earnings up to the wage base are considered in calculating Social Security benefits. As a result, those who pay more now should receive more later. Some private pensions also use the amount of covered compensation – that is, compensation up to the wage base – in calculating their benefits as well.”
Domestic Workers
There will be no increase next year in the amount of wages a domestic worker can earn without being subject to FICA taxes. In 2007, you can pay a domestic worker, such as a maid or nanny, up to $1,500 without having to wrestle with federal withholding on wages.
About Wolters Kluwer Law & Business
Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals, as well as casebooks and study aids for law students. Its major product lines include Aspen Publishers, CCH, Kluwer Law International and Loislaw. Its markets include law firms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. Wolters Kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit http://www.wolterskluwer.com.
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(RIVERWOODS, ILL., October 19, 2006) – Social Security beneficiaries in 2007 will see a relatively large increase in their monthly checks, according to CCH, a leading provider of tax and payroll law information and software (hr.cch.com). As a result of inflation, an increase of 3.3 percent will be applied to this coming year’s benefits, starting with December 2006 benefits, which are paid in January 2007. Although not as large as last year’s 4.1 percent increase, this is still the third largest annual increase since 1991.
The 3.3 percent cost-of-living adjustment, or COLA, will produce an estimated monthly benefit of $1,044 for all retired workers in 2007, $42 a month more than in 2006. However, $5, or 11.9 percent, of that increase will be eaten up by a rise in the standard premium paid by beneficiaries enrolled in Medicare Part B in 2007. With a total monthly Medicare Part B standard premium of $93.50 in 2007, Social Security beneficiaries enrolled in Medicare Part B will see that average $42 benefit increase reduced to $36 after rounding required by law. For the first time, a relatively small number of Medicare Part B enrollees with higher incomes, approximately 4 percent, will pay a higher premium based on their income.
A typical married couple, both receiving benefits, can expect to find $1,713 in their monthly benefit checks in 2007, $65 more than the comparable 2006 benefit, while the average widow or widower living alone will receive an average benefit of $1,008, an increase of $41. These amounts do not reflect deductions for Medicare premiums.
The maximum monthly benefit payable to an individual reaching full retirement age, which is age 65 and 10 months for those born in 1942, will be $2,116. This is $63 more per month than what was payable to someone retiring at full retirement age in January 2006 and $118 per month more than the maximum benefit of $1,998 payable to someone born in 1942 who still wishes to retire upon reaching age 65 in 2007.
The Social Security COLA is applied to several types of benefits: retirement, disability, survivors – such as children and widow(er)s – and to the maximum family benefit, which is the maximum that can be paid if more than one family member is receiving benefits based on one wage earner’s account.
Shelter Costs Drive Increase
"The increase is largely driven by an increase in shelter costs, which accounts for approximately 30 percent of the increase in the Consumer Price Index over the past 12 months," said Avram Sacks, JD, CCH Social Security law analyst. "An increase in food and beverage costs accounted for another 16 percent of the increase."
"The magnitude of the increase was not expected by the Board of Trustees of the Federal Old-Age, Survivors and Disability Insurance (OASDI) Trust Fund last May,"said Sacks. "At that time, they predicted a 2.3 percent increase, just over two-thirds of the actual figure based on the rise of the Consumer Price Index for Urban Wage Earners and Clerical Workers from the third quarter of 2005 through the third quarter of 2006.”
"Until this past month, the COLA had been on track for a 3.5 percent increase. However, sharp declines in energy costs, including a 13.5 percent drop in gasoline costs in September, reduced the overall increase,"said Sacks.
Earnings Limits Also Rise
The amounts that certain Social Security beneficiaries can earn without having their benefits reduced – "Retirement Test Exempt Amounts"in Social Security terminology – also will go up next year.
Workers under full retirement age who are receiving benefits can earn up to $12,960 in 2007, or $1,080 per month, without having their benefits reduced. This is an increase of $480 annually over the 2006 limit.
A modified test applies to workers who reach the full retirement age of 65 and 10 months in 2007. In each month before they reach full retirement age, these individuals may earn up to $2,870 without having their benefits reduced. Once they reach full retirement age, benefits are no longer subject to any retirement test.
"This is an increase of $100 over the 2006 monthly limit for these workers,"Sacks noted.
An "earnings test"for beneficiaries at full retirement age through age 69 was abolished by legislation in 2000. Beneficiaries age 70 and older have not been subject to benefit reductions based on earnings since 1983.
Disability Thresholds
The amount of monthly earnings in 2007 that will give rise to a presumption that a disability beneficiary is no longer disabled – that is, the amount that’s deemed sufficient to demonstrate an ability to engage in "substantial gainful activity"is $900, an increase of $40 from 2006. A higher threshold of $1,500 applies to blind beneficiaries.
Disability beneficiaries may work for as many as nine months during any 60-month period without affecting their rights to receive benefits. This is known as "trial work."In 2007, a disabled beneficiary who works will not be treated as having engaged in trial work for any month in which his or her earnings are no more than $640, an increase of $20 over the 2006 limit.
SSI Earnings Limits
There is no trial work period for Supplemental Security Income (SSI) disability beneficiaries. However, if an SSI beneficiary is working, has only earnings and doesn’t pay expenses in order to work, the person may earn up to $1,331 per month in 2007 before the person’s SSI federal cash benefits stop. The amount was $1,291 in 2006. This is based on an exclusion of $85 per month (assuming the person has no other income) for the first $85 dollars of monthly earned income, plus a monthly deduction of $1 for every $2 earned thereafter. SSI beneficiaries in states that provide a supplement to the federal SSI benefit can earn even more before cash payments stop. However, if an individual has earnings of $900 or more in 2007, then the person would be considered to be engaging in "substantial gainful activity"and would probably not be eligible for SSI disability benefits, unless he or she is blind.
About Wolters Kluwer Law & Business
Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals, as well as casebooks and study aids for law students. Its major product lines include Aspen Publishers, CCH, Kluwer Law International and Loislaw. Its markets include law firms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal and regulatory, and education sectors. Wolters Kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America, and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, visit http://www.wolterskluwer.com.
Contact Information
(RIVERWOODS, ILL., October 17, 2006) – CCH, a part of Wolters Kluwer Law & Business and a leading provider of business compliance information, software and services, is presenting a two-hour audio conference entitled "Cash Balance Plans After the PPA: Is There a Future?"featuring experts from Hewitt Associates on Thursday, October 19, at 2 p.m. Eastern, 1 p.m. Central (hr.cch.com/audio).
With the enactment of the Pension Protection Act of 2006 (PPA), plan sponsors have been given prospective relief from age discrimination claims for hybrid plans, including cash balance plans, that comply with the Act. Presenters Dan Schwallie, Paul Rangecroft and Barbara J. Hogg will point out the provisions of the PPA that impact cash balance plans and show the practical impact of the new rules.
Specific topics to be covered include:
- A brief history of the development of cash balance plans;
- What are cash balance plans?
- Why cash balance?
- Prevalence trends
- Legal uncertainties and resolutions;
- Litigation – age discrimination, whipsaw, wear away
- Regulation – Treasury proposals and Determination Letter moratorium
- Legislation – the path to the Pension Protection Act of 2006
- Pension Protection Act of 2006;
- Cash balance (hybrid) plan provisions: Questions answered and questions remaining
- What’s different in the rest of the PPA as applied to cash balance plans?
- If you have cash balance now, what does PPA mean…going forward and retroactively?
- If you’re thinking cash balance now, what does PPA mean?
- The role of cash balance in the future.
The seminar will include a live question-and-answer session.
About the Speakers
Dan Schwallie, JD, Ph.D., is an attorney with Hewitt Associates’ HR Outsourcing group in their Cleveland, Ohio office. He is responsible for advising Hewitt’s outsourcing teams and consulting with clients and their counsel with respect to implementation and compliance issues relating to the administration of qualified and nonqualified retirement plans and payroll. Schwallie has worked with cash balance and other hybrid plan designs for over a decade.
Paul Rangecroft is a Principal and consulting actuary in Hewitt’s Benefits Consulting practice in their Bridgewater, N.J. office. He is a Fellow of the Society of Actuaries, an Enrolled Actuary, and a member of the American Academy of Actuaries. He consults on all aspects of actuarial matters involving defined benefit, defined contribution, and other post-retirement benefit programs. Rangecroft is also the leader of Hewitt’s Actuarial Resource Team on Cash Balance and Pension Equity plans, and a member Hewitt’s global Employee Stock Ownership Team.
Barbara J. Hogg is a Principal and senior retirement consultant with Hewitt Associates in their Lincolnshire, Ill. office. She is focused on employee behavior and retirement communication. She is part of a team focused on the development of results-based communication approaches for employer’s human resources programs. Hogg is a Fellow of the Society of Actuaries.
How the Audio Seminar Works
CCH’s live audio seminars require nothing more than a telephone connection. For the $249 per site fee, an unlimited number of listeners at a site can participate and get up to speed and in-the-know on this important topic.
Earn CE Credit
This audio conference is designed to meet the CE requirements of the ASPPA CE program and qualifies for two CE credits. ASPPA members should report this audio seminar to ASPPA using the non-ASPPA-sponsored CE guidelines and tools located at www.asppa.org. In addition, ASPPA members should print out and keep in their files a copy of the site registration confirmation and a hard copy of the presentation materials. For more information, please contact the ASPPA membership department at 703-516-9300.
Special Bonus
Along with detailed handout materials, each site registering for this audio seminar will have 60-day access to a streamed audio recording of the event, a $249 value.
How to Register
To register online using a credit card go to hr.cch.com/audio. To register by phone, call CCH Customer Service at 1-800-775-7654. Please have your credit card information ready.
About Wolters Kluwer Law & Business
Kluwer Law International (www.kluwerlaw.com), the leading English-language international law publisher, is part of Aspen Publishers, and along with Loislaw and CCH, is part of Wolters Kluwer Law & Business. Kluwer Law International has offices in London and the Netherlands.
Wolters Kluwer Law & Business provides research products and software solutions in key specialty areas for legal and business professionals. Key specialty areas include: securities and corporate governance; antitrust; banking and finance; international law; pension, payroll and benefits; human resources, labor and employment; Medicare and healthcare compliance; tax law and legal education. Its markets include law firms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill.
Wolters Kluwer is a leading multinational publisher and information services company. The company’s core markets are spread across the health, corporate services, finance, tax, accounting, law, regulatory and education sectors. Wolters Kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, see www.wolterskluwer.com.
Contact Information
(NEW YORK, N.Y., October 10, 2006) – Kluwer Law International, the leading English-language international law publisher, has launched a new, easy-to-use web site, www.kluwerlaw.com. The new site is designed to make a wide range of information and tools readily accessible to visitors, saving them time and facilitating secure orders and customer service. Along with Aspen Publishers, Loislaw and CCH, Kluwer Law International is part of Wolters Kluwer Law & Business.
The new site has been redesigned and enhanced to offer visitors quick and easy access to the full range of information services available from Kluwer Law International.
With the new web site, visitors are able to browse the extensive library from Kluwer Law International by title, author, product subject and format. They can find background information on products, latest pricing information and publishing dates for all new titles. Visitors can also view the table of contents of many works and request or view sample journals.
"Best of all, the site is user-friendly and an ideal one-stop resource for everything from gathering information to placing secure orders," said Joyce Rivers, Kluwer Law International marketing manager. "Visitors will find a wealth of helpful customer service information on all aspects of placing an order with Kluwer Law International, including our returns policy, tax policy, handling and postage fees. We’ve put everything within easy reach."
About Wolters Kluwer Law & Business
Kluwer Law International (www.kluwerlaw.com), the leading English-language international law publisher, is part of Aspen Publishers, and along with Loislaw and CCH, is part of Wolters Kluwer Law & Business. Kluwer Law International has offices in London and the Netherlands.
Wolters Kluwer Law & Business provides research products and software solutions in key specialty areas for legal and business professionals. Key specialty areas include: securities and corporate governance; antitrust; banking and finance; international law; pension, payroll and benefits; human resources, labor and employment; Medicare and healthcare compliance; tax law and legal education. Its markets include law firms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill.
Wolters Kluwer is a leading multinational publisher and information services company. The company’s core markets are spread across the health, corporate services, finance, tax, accounting, law, regulatory and education sectors. Wolters Kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, see www.wolterskluwer.com.
Contact Information
(NEW YORK, N.Y., October 9, 2006) – Now there’s a reliable resource for 401(k) and 403(b) plan administrators that shows them how to meet their fiduciary responsibilities and avoid fiduciary liability. Aspen Publishers’ brand new ERISA Fiduciary Compliance: A Practical Guide to Participant-Directed Investments is a one-of-a-kind, process-oriented looseleaf book designed to guide administrators though the ins and outs of working with plan investment providers. Aspen Publishers is part of Wolters Kluwer Law & Business (aspenpublishers.com).
"Many plan administrators are not aware that they have fiduciary liability with regard to the performance of their plan, but under ERISA, a plan administrator cannot delegate fiduciary duty," notes ERISA Fiduciary Compliance: A Practical Guide to Participant-Directed Investments author Michael Snyder. "What they can do is understand their responsibilities and adopt policies and procedures to meet them."
Designed to help administrators stay fully compliant with all federal and state regulations, ERISA Fiduciary Compliance: A Practical Guide to Participant-Directed Investments examines the concepts of fiduciary responsibility and liability and how these apply to retirement plan investments.
Step-by-step Treatment, Valuable Tools
ERISA Fiduciary Compliance takes users step-by-step through the process of choosing and monitoring investment providers. They see how to prepare RFPs, choose the best plan provider, run investment committee meetings, review investments, fulfill their oversight responsibilities and avoid fiduciary liability. Along the way, they learn how to: determine if an investment advisor/broker is providing the best available funds; decide when to change investment options; manage crucial decisions; stay in compliance; avoid lawsuits; and understand what’s really going on in the plan and what the real fees are.
In addition, ERISA Fiduciary Compliance adds valuable tools to let employers see exactly how their individual funds are performing, including sample forms, checklists and evaluation guides. These features alone can save significant time and expense. With detailed explanations of how to effectively benchmark an organization’s retirement plan investments, this singular resource provides straightforward guidance on how to put an assessment system in place to evaluate plan performance in a timely manner – with confidence and ease.
About the Author
Michael B. Snyder is of counsel with Harris Beach LLP. Snyder previously served as Eastman Kodak Company’s Director of Benefits Strategy, developing and implementing long-term retirement, savings, bonus and health care plans. Snyder has also published more than 200 articles in various trade publications.
Founded in 1856, Harris Beach LLP, a Rochester, N.Y.-based law firm, serves hundreds of clients in the employee benefits area. The firm’s clients include Fortune 500 corporations, privately held companies, emerging technology business, financial institutions, health care providers, educational institutions, not-for-profit organizations and foundations, state and local governments and authorities, and individuals.
Availability and Pricing
For more information or to order, call 1-800-638-8437 or visit www.aspenpublishers.com. ERISA Fiduciary Compliance: A Practical Guide to Participant-Directed Investments is available as a single loose-leaf volume for $249. Subscribers automatically receive updates, revisions, supplements and/or new editions on a 30-day risk-free trial basis. Upon receipt, they have 30 days in which to purchase or return. They may cancel this automatic supplementation program at any time simply by notifying Aspen Publishers.
About Wolters Kluwer Law & Business
Wolters Kluwer Law & Business is a leading provider of research products and software solutions in key specialty areas for legal and business professionals, as well as casebooks and study aids for law students. Its major product lines include Aspen Publishers, CCH, Kluwer Law International and Loislaw. Its markets include law firms, law schools, corporate counsel and professionals requiring legal and compliance information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New York City and Riverwoods, Ill.
Wolters Kluwer is a leading multinational publisher and information services company. The company’s core markets are spread across the health, corporate services, finance, tax, accounting, law, regulatory and education sectors. Wolters Kluwer has annual revenues (2005) of €3.4 billion, employs approximately 18,400 people worldwide and maintains operations across Europe, North America and Asia Pacific. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on the Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. For more information, see www.wolterskluwer.com.