which went into effect

It’s an astonishing fact, but the United States is the only country with an advanced economy that does not provide some sort of paid leave for new mothers.

This week’s Your Money column takes a closer look at the dismal state of affairs concerning parental leave over all, as well as the patchwork of policies that are on the books (or not).

The Family and Medical Leave Act, which went into effect 20 years ago this month, provides some basic but invaluable protections: it requires larger employers and public agencies to provide up to 12 weeks of unpaid leave for the birth or adoption of a child (or to care for yourself, an opposite-sex spouse, parent or child who has fallen ill). But experts say that about 40 percent of employees are not eligible — and many of those who are simply cannot afford to take unpaid leave.

While consumer advocates and some lawmakers are drafting legislation that would create a paid federal family leave and medical leave insurance program, the current political tenor will make passage tricky. In the meantime, whether workers have access to paid leave largely depends on where and for whom they work.

So we’ve decided to begin a progress report that will highlight paid parental leave policies at American employers (similar to the way we keep track of companies that equalize the cost of health insurance for same-sex couples). We’re starting with responses we received from some of the largest companies, which you’ll find detailed below.

The chart is still a work in progress and will be updated over time. (Among the companies we’re waiting to hear back from are Exxon Mobil, Wal-Mart, Chevron and Berkshire Hathaway.) So please tell us about your own employer’s policy in the comment section below. We would also love to hear your thoughts on the potential creation of a paid federal family and medical leave insurance program.

Employer
What is the organization’s general policy for maternity leave?
What about paternity leave?
Adoption?
Do these policies apply to part-time workers?
Does this apply to same-sex couples?
How long has the policy been in place? Any plans to strengthen the policy?
ConocoPhillips
“Multiple U.S. policies to assist employees with time off to meet personal and family needs.” Asked company to clarify; waiting for more details.
Awaiting more details.
Awaiting more details.
Awaiting more details.
Yes.
Current policy dates back to 2002. Programs are reviewed annually.
Fannie Mae
Six weeks paid for a vaginal delivery or eight weeks for a C-section. In addition, after childbirth or adoption, 20 days of paid bonding leave for regular, full-time employees.
After childbirth or adoption, 20 days of paid bonding leave for regular, full-time employees.
20 days of paid bonding leave for regular, full-time employees.
Part-time employees who work at least 20 hours per week are eligible for maternity leave and bonding leave, on a pro-rated basis.
20 days of paid bonding leave for regular, full-time employees.
Longstanding policy.
Ford
Generally six to eight weeks (through company’s disability leave policies), depending on medical recommendation of the employee’s doctor.

Only unpaid leave through Family and Medical Leave Act and the company’s dependent care policies.
Up to $5,000 adoption assistance per child. Employee must use unpaid leave through Family and Medical Leave Act or the company’s dependent care policies.
All of the leaves mentioned are available to eligible regular and part-time employees.
Yes.
More than 20 years.
General Electric
Paid parental leave gives an employee up to two weeks of paid leave within one year of a birth or adoption. G.E. also provides income replacement to women deemed disabled because of pregnancy, childbirth or a related condition. Income replacement is provided through personal illness and salary continuance programs and/or short-term disability plans.
Paid parental leave gives an employee up to two weeks of paid leave within one year of the birth or adoption to bond with and care for a child.
Paid parental leave benefit for male and female salaried employees who have been with G.E. for at least a year and who work at least 20 hours a week.
Paid parental leave benefit for male and female salaried employees who have been with G.E. for at least a year and who work at least 20 hours a week.
Awaiting more details.
Parental leave policy was introduced on Jan. 1, 2012, and was retroactive to include births and adoptions occurring in 2011.
General Motors
Expectant mothers covered under disability leave policies, which are typically six to eight weeks.
Only unpaid leave through Family and Medical Leave Act and the company’s dependent care policies.
Offers $5,000 in adoption assistance per child. But only unpaid leave through Family and Medical Leave Act and the company’s dependent care policies.
Yes.
Yes.
The current policy has been in place for 20 years. G.M. regularly reviews policies and benchmarks against other major Fortune 50 companies.
Google
New mothers get 22 weeks of paid leave.
7 weeks.
7 weeks.
Awaiting more details.
Yes.
Maternity leave was increased in 2007 and introduced globally in 2012.
Hewlett-Packard
A combination of disability leave and new-parent leave: up to six weeks at full pay under short-term disability plan, with additional weeks at 70% of pay, and the option to make up the remaining 30% using vacation time. Employees are also eligible for 10 paid days of new-parent leave any time within six months after birth or adoption.
Employees are eligible for 10 days of paid new-parent leave any time within six months after the birth or adoption of a child.
Awaiting more details.
Yes, for workers who log at least 20 hours a week.
Yes, disability and new-parent leave benefits are available following the birth or adoption of a child.
Reviews all programs annually. Improved program this year, doubling new-parent leave to 10 days.

Article source: http://bucks.blogs.nytimes.com/2013/02/22/parental-leave-what-does-your-employer-offer/?partner=rss&emc=rss

WASHINGTON — Retailers won a big victory last summer when the Federal Reserve cut by half the fees that banks and credit card companies were charging them to process debit card transactions.

For some retailers, however, that was not enough. This week, trade groups representing retailers, convenience stores and grocers filed a lawsuit against the Fed, asserting that the board’s debit fee rules — which allow an additional variable fee to cover fraud costs — violate the law passed by Congress as part of the Dodd-Frank financial regulation package. The lawsuit was filed in United States District Court in Washington.

The rule, which went into effect in October, was the subject of fierce lobbying by banks and retailers over what has grown to $20 billion in annual debit card transaction fees. Consumers do not pay the fees directly but merchants have complained that rising fees in recent years have forced them to raise prices.

In a sort of Solomonic decision, the Fed approved a cap of 21 to 24 cents a transaction, down from an average of 44 cents that had been being charged. But the new fee cap was roughly double the 12 cents initially proposed by the Fed before banks and credit card companies pushed to raise it.

Mallory Duncan, senior vice president and general counsel for the National Retail Federation, said in an interview that the main problem with the Fed’s new fee structure was that it allowed banks and card companies to add a variable charge of up to 5 basis points — or five one-hundredths of a percentage point — to each transaction in order to recover a portion of fraud losses.

“The law specifically said that they could recover fraud prevention costs,” but it does not allow for the recouping of actual losses, Mr. Duncan said.

Banks also can include in their fees the cost of updates to their processing equipment, he said. That benefits the overall operations of banks and card companies, but does not directly relate to specific debit card transactions, as the law requires, he said.

“The Fed did a very credible job of investigating what the incremental costs of debit card transactions were,” Mr. Duncan said. “But the Fed didn’t follow the law, so everyone’s fees are higher than they should be.”

A spokeswoman for the Federal Reserve said the board was aware of the lawsuit and “will be reviewing it,” but she declined further comment.

Mr. Duncan said the Fed’s rule had particularly harmed merchants that handle mostly small-ticket purchases — fast-food outlets, convenience stores and the like.

Before the new rules were created, those companies typically paid a fee of 11 to 12 cents on a $5 purchase, Mr. Duncan said. Now, banks have adopted the Fed’s fee structure as a minimum charge on all transactions, meaning that fees on small-ticket items have doubled.

Trish Wexler, a spokeswoman for the Electronic Payments Coalition, which represents card companies, banks and other issuers of debit cards, said the lawsuit by retailers was “a matter of greed.”

“Retailers won’t be truly happy until they pay zero to accept cards,” Ms. Wexler said. “They don’t want to pay anything for this system, which produces for them more revenues, more customers and more security.”

Mr. Duncan said the lawsuit was not motivated by greed. “The nature of our business is extremely competitive,” he said. “Our profit margins are probably the narrowest of any industry in America.”

After the new debit fee rules went into effect, some banks, Bank of America most prominent among them, said they would begin to charge customers a monthly fee of about $5 to use debit cards. After an uproar by consumers, the banks backed off the proposal.

Article source: http://feeds.nytimes.com/click.phdo?i=530d16ee1fb4c07a16f8c114888465b5

Bucks Blog: Parental Leave: What Does Your Employer Offer?

Retailers Push for Yet Lower Debit Fees

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