Authors:John G. Kilgour Abstract: Compensation & Benefits Review, Ahead of Print. Required minimum distributions (RMDs) are an important part of individual requirement accounts and defined-contribution retirement plans including 401(k), 403(b) and 457(b) plans. Such plans are intended to provide retirement income for the account owner and his or her spouse. They are not intended to pass untaxed wealth on to the next generation. RMDs do that by requiring that a portion of the balance in an account is distributed (and taxed) each year beginning by age 70½ (recently extended to age 72). This article examines the origins and extensions of RMDs, how they are calculated and how they work. It then assesses the recently enacted SECURE Act and the proposed updated Internal Revenue Service tables of the life-expectancy factors used to calculate the amount of the annual RMDs. Citation: Compensation & Benefits Review PubDate: 2020-06-05T10:31:51Z DOI: 10.1177/0886368720925187
Authors:Dow Scott, Conny Antoni, Jacek Grodzicki, Emilio Morales, Jose Peláez First page: 85 Abstract: Compensation & Benefits Review, Ahead of Print. Countries differ with regard to culture, employment laws and employment traditions and practices, all of which suggest that employees may have different perceptions of the degree to which their company is transparent about pay as well as their own preferences for pay transparency. This study examines, from an employee perspective, how pay transparency and pay transparency preferences differ across multiple countries in Central America, North America and Europe. Pay communications, pay transparency and pay transparency preferences differed among respondents of the countries studied. However, Hofstede’s culture l country measures, uncertainty avoidance, lower levels of individualism and lower levels of power distance were not associated with preferences for pay transparency as might be expected from the literature. Although pay transparency preferences are not related to employee perceptions regarding employer pay communications, pay transparency preferences are related to pay transparency. Citation: Compensation & Benefits Review PubDate: 2020-02-13T06:55:56Z DOI: 10.1177/0886368720905693
Authors:Michael Lynn First page: 98 Abstract: Compensation & Benefits Review, Ahead of Print. Analyses of state differences in minimum wages and tip percentages found that (1) states with higher regular minimum wages have lower average tip percentages in coffee shops and higher average tip percentages in restaurants (after controlling for tipped minimum wages and cost-of-living) and (2) states with higher tipped minimum wages have lower average tip percentages in restaurants and higher average tip percentages in coffee shops (after controlling for regular minimum wages and cost of living). Although the data are only correlational and do not prove causality, these findings support the idea that paying tipped workers higher wages decreases the tip percentages those workers receive. Discussion centers on the potential processes underlying such an effect, its implications for minimum wage policy and directions for future research. Citation: Compensation & Benefits Review PubDate: 2020-03-13T11:54:59Z DOI: 10.1177/0886368720908959
Authors:Biniyam Asmare Kassa First page: 109 Abstract: Compensation & Benefits Review, Ahead of Print. This article presents a simple mathematical model for salary structure design that enhances clarity and allows for reasonable trade-off between internal equity and external market competitiveness considerations in salary structure design. Practical use of the model is illustrated with an actual application in one organization. Citation: Compensation & Benefits Review PubDate: 2020-03-20T08:45:51Z DOI: 10.1177/0886368720905696
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