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As firms put more and more cash aside for people in final-salary schemes, there are fewer funds for the defined contribution plans they have switched workers into.
While most other private companies have accepted that traditional pension plans are unsustainable and have switched workers to 401(k) accounts, utilities can offload all financial risk to ratepayers.
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In fact, switching workers to 401 k -type plans can make the underfunding problem even worse.
Insurance companies and major employers who were faced with heavy costs for AIDS and other medical care began switching workers to managed care plans.
That's because many company pension schemes and stakeholder plans switch workers' savings into less volatile investments such as UK gilts and corporate bonds as they approach retirement, to protect them from stock market falls – a process called "lifestyling".
In order to avoid benefiting from the subsidy without creating new employment, the law excludes circulation of workers within sub-companies of the same employer; switching workers between direct or indirect partnerships, and also the situations in which an employer closes his company, opens another one and transfers his workers from the old to the new one.
Impressive though it may be, you won't be seeing any replays of StarCraft players switching workers to a different piece of ore while fighting off Zerg on the other side of the map.
Faced with the high cost of paying final-salary pensions, many firms have closed their schemes to new members; some have switched current workers into stingier defined-contribution schemes.
Over the past few months, startups like Instacart, Shyp and Luxe have all switched their workers to W-2 employees rather than independent contractors.
Over the past few months, startups like Instacart, Shyp and Luxe have all switched their workers to W-2 employees rather than independent contractors.
Job-switching workers enjoy highest pay growth in a decade.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com