Employees to consider the benefits and retirement

 

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Copyright 2009 ProQuest Information and LearningAll rights ReservedCopyright 2009 Mississippi Business Journal Mississippi Business Journal

Monday 9 March 2009

SECTION: Pg. 14 Vol. 31 No. 10 ISSN: 0195-0002

ACC-NO: 12867

LENGTH: 724 words


TITLE: Employees examine the benefits and retirement

Signature: Lofton, Lynn

ABSTRACT

For the most part, employees are continuing in Mississippi the level of benefits and contributions to pension funds, despite the economy slipping, according to some of the state of human resources professionals. "Curiously, the state of the economy today, our employees are to remain strong in their commitments to saving for the future and continue to hold elections in the interest they have done," said said Lisa Giger, deputy director of human resources to the educational institution Cleveland. TEXT

For the most part, employees are continuing in Mississippi the level of benefits and contributions to pension funds, despite the economy slipping, according to some of the state of human resources professionals.

There has not had to travel between the employees of the State University Delta of lower pension benefits or contributions.

"Curiously, the state of the economy today, our employees are to remain strong in their commitments to saving for the future and continue to hold elections in the interest they have done," said said Lisa Giger, deputy director of human resources to the educational institution Cleveland.

As a sign of the times, Resa Frey, Vice President and Director of Human Resources for Hancock Bank, a slight increase from the addition of joint financial institution's health and welfare.

"This increase is due to the spouses of our employees lose their jobs," said Frey. "We also benefited from an increase in associated companies on ways to reduce or stop their 401 (k) and purchase of selected measures.

Long-time human resources with Billy Sims said the economy as the worst he has seen in 30 years.

"It is now hitting home," said Vice President of Human Resources for Southern Farm Bureau Insurance Company. "We see a lot of law firms, construction companies and pharmaceutical companies involved in the economy. These are companies that are not generally affected by a recession. "

His company is weathering the storm, but employees are concerned about the future of their 401 (k).

"It's a lack of confidence in these markets that are taking such a beating. We see young people delay entry, "he said. "Other employees are changing their contribution because they need extra money to help family members who have lost jobs."


Sims noted that some employees chose to join the society more conservative, low risk Stable Value account, while others are re-assess and reduce their contributions to 401 (k).

"Fortunately, our employees have guaranteed retirement," he added, "but some are beyond voluntary support services such as cancer care and political views. They are not jumping on it, as they did. "

He sees all around nervousness that people in advanced stages of higher education, which have never been unemployed, looking for work.

"We did good things in our society over the long term to control spending," says Sims. "We continue to look at carefully."

For most, the health sector remains strong, and the Singing River Health System is no exception. The Pascagoula-based organization was able to provide salary increases to its employees in January 2500.

"We are running on all cylinders and our employees seem to be happy," said Chief Human Resources Officer Nebo Carter. "Pay increases hard choice of benefits for employees who have to pay a little more on premiums. We try to negotiate the best rates we can get better and they are that employees can get if they purchase coverage their own initiative. "

The company even had a few more people signing up for benefits during the registration period. Singing River's retirement plan is mandatory for participation. Carter said it was similar to the state retirement plan for teachers.

"There is no risk to employees whether this benefit is available when they retire," he said. "The employees put money in the plan with each paycheck and the employer does, too. You can bet that nobody wants to jump out of this plan, they want to get it."

In addition, Singing River employees may join a voluntary supplemental plan, which chooses between the seven or eight investment accounts.

"Some of these are high risk and people have lost value in people, including me," said Carter. "There are about 400 employees in it, but they do not depend on it for their retirement."

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