Supreme Court mulls pregnancy leave pension credit 

Does a federal law that gives workers the right to take pregnancy leave require employers to take into account pregnancy-related time off taken before the law’s enactment in calculating pension benefits?
The U.S. Supreme Court heard oral arguments last December in a case that could affect the pension calculations of thousands of American women.
The case, AT&T [...]

Sweeping COBRA changes have big impact 

For the first time, employers are required to pay a subsidy for former employees’ use of COBRA, and experts caution that they could see their overall health costs rise as a result.
The changes to the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) were included as part of the American Recovery and Reinvestment Act of [...]

Retirement planning: Big traps for small law firms 

Many small firm lawyers are intimidated by the prospect of planning for retirement. Because establishing a retirement plan for your law firm can be a daunting task, here are some tips and traps from a few experts.
Not so fast
The first question to ask is whether your firm is ready to implement a retirement plan. Small [...]

401(k): Is suspending a match the right thing to do? 

“Eastman Kodak Suspends 401(k) Match” was a headline in December, when the company announced its latest plan to cut its losses and restore profitability.
It seems that every month a corporation announces that it plans to cut losses by suspending its 401(k) match.
General Motors, Ford, Sprint Nextel and Huntington Bancshares are among those that most recently [...]

Keeping the office happy with perks that work 

From flex time to monthly office birthday parties, there are all sorts of ways you might try to keep employees and lawyers happy in your law firm. But have you ever wondered which perks really work – and which just aren’t worth the extra time, paperwork or effort?
According to consultants Robert Denney, of Robert Denney [...]

Karl Truman’s tips for new attorneys 

1. Look into a virtual office. It’s a real office space, but many of the functions of a law office – a receptionist, paralegal, transcription, copy center – are made available on a pay-as-you-go basis, reducing overhead.

2. Consider outsourcing services, including paralegal and transcription work. Conduct an Internet search for virtual assistants.

3. Hire an accountant [...]

Co-employment arrangements 

The Karl Truman Law Office has approximately half the employees it once had. But it has the same number of people working in the office.
Confusing? Not really. Truman, a personal-injury attorney who practices in both Kentucky and Indiana, wanted to reduce the cost of his employees’ health insurance while improving their coverage.
What he found was [...]

Helpful hints 

The coaches (see story, “The merits of outsourcing“) offer several suggestions for law firms or new attorneys struggling with payroll issues:
1. If you’re a solo practitioner or have a small firm, farm payroll functions to a company that specializes in them. (There are many choices, so run an Internet search for payroll administrators.) Sites for some popular [...]

The merits of outsourcing 

When it comes to payroll and benefits, law-firm coaches Edward Poll and John Olmstead use the same words repeatedly: Outsource, simplify and “do what lawyers do best, practice law.”
It’s almost a mantra for Poll, a California attorney and MBA, and for Olmstead, a Missouri coach who holds both a Master of Business Administration and doctorate [...]