A recent study by EBRI (Employee Benefit Research Institute) reports that many experienced employees might delay retirement if offered the right incentives. In partnership with the HR Policy Association, EBRI interviewed employees and retirees from 11 aerospace and defense industry companies. Nearly half of those polled said that feeling needed would be enough to get them to stay as much as 2 years longer. Half also said that receiving a full pension while adopting a part-time schedule would delay their retirement. Nearly as many would be enticed by a partial pension while working part-time. An overwhelming majority say that they would look positively on an employer asking them to stay longer. Employers have a narrow window to offer incentives for working longer, though. Many employees start thinking and planning for retirement as much as 2 years before they retire.

The New York Times on Pittsburgh:

PITTSBURGH has undergone a striking renaissance from a down-and-out smokestack to a gleaming cultural oasis. But old stereotypes die hard, and Pittsburgh probably doesn’t make many people’s short list for a cosmopolitan getaway. Too bad, because this city of 89 distinct neighborhoods is a cool and — dare I say, hip—city. There are great restaurants, excellent shopping, breakthrough galleries and prestigious museums. The convergence of three rivers and surrounding green hills also make it a surprisingly pretty urban setting. And if the Pirates are in town, head over to PNC Park. Besides the game, the ballpark offers a great excuse to explore downtown Pittsburgh and the river views.

On June 19, the Supreme Court decided MetLife v. Glenn, ruling that a company that both administers and funds a benefits plan operates under a conflict of interest that must be considered as a factor in a court’s review of claim denials.

From the analysis on SCOTUSBLOG:

In its decision below, the Sixth Circuit explicitly considered that conflict of interest when reviewing MetLife’s denial of benefits to respondent Glenn, a Sears employee who filed for disability benefits after a heart condition impaired her ability to work. After MetLife rejected Glenn’s claim, asserting that she was still physically capable of performing full-time sedentary work, Glenn brought suit against the insurance company under ERISA, which authorizes federal courts to review the decisions of benefit plan administrators. Glenn lost her case in district court but prevailed before the Sixth Circuit... The Sixth Circuit [ruled] that the claim denial was unreasonable and should be reversed.

As always, plan sponsors should carefully evaluate how their claims are decided and paid. Any employer who both administers and pays benefits should take the ruling into account and put safeguards into place to separate benefit decisions from financial concerns.

A thorough discussion of MetLife v. Glenn can be found on SCOTUSWIKI.

In June, President Bush signed into law H.R. 6081: Heroes Earnings Assistance and Relief Tax Act of 2008 (HEART Act), providing tax benefits and incentives to employees in qualified military service as defined by the Uniformed Services Employment and Reemployment Rights Act of 1994 (USERRA). The provisions have varied impact on many benefits, including 403(b) plans, governmental 457(b) plans, IRAs, and health flexible spending accounts. A full summary can be found at GovTrack.us.