The Centers for Medicare and Medicaid Services (CMS) is seeking input on how it can reduce the economic and regulatory burdens of the Affordable Care Act (ACA). The request for information (RFI), published June 12 in the Federal Register (82 Fed. Reg. 26885), calls for recommendations on streamlining the ACA’s regulation of the individual and small-group […]
From 401(k) plans to vacation policy, this topic gives HR and Compensation professionals specific strategies on how to handle benefit plans. Articles also provide guidance to brokers, advisers and consultants.
Single-premium pension buyout sales as part of the “derisking” of defined benefit (DB) retirement plans for the first quarter rose 31% from the same period in 2016, totaling $1.4 billion—the highest first-quarter results in 15 years, according to the LIMRA Secure Retirement Institute.
A bill introduced in both houses of Congress would create a pilot program to provide employment benefits to gig workers. This Portable Benefits for Independent Workers Pilot Program Act (S. 1251, H.R. 2685) would allot the U.S. Department of Labor (DOL) $20 million to test portable benefits in fiscal year 2018. “[A] growing number of […]
It’s fairly well-known that the United States is one of only a couple countries in the world that does not have any federally mandated requirement for employers to provide paid time off for new parents. This is a fact that comes as a bit of a shock to those in other countries, many of which […]
“Talent wins games, but teamwork and intelligence win championships.” Michael Jordan wasn’t talking here about retirement, and in fact, we don’t know that he ever has. But his words can certainly apply to the subject. In today’s world, each individual must take charge of his or her own retirement. Still, there are many ways others […]
While many Americans are preparing for summer vacations, many are likely not. According to a new survey from Glassdoor, the average U.S. employee (of those who receive vacation/paid time off) has only taken about half (54%) of his or her eligible vacation time/paid time off in the past 12 months. This is relatively consistent with […]
Most employers in Chicago and Cook County will be required to offer paid sick leave beginning July 1. The city of Chicago passed a sick leave ordinance last summer, and Cook County (where Chicago is located) passed a nearly identical law in October. The ordinances apply to all businesses that are located in the city […]
Many employers offer employee wellness programs with the intent of improving overall employee health levels. Improving employee health has the long-term benefit reducing unplanned absences and can even boost productivity. It can reduce healthcare costs for the employee, which then may, in turn, reduce healthcare benefit costs for everyone. It can have the added benefit […]
Lump-sum windows that offer defined benefit (DB) retirement plan participants a chance to convert their vested accrued monthly benefit into a one-time lump-sum cashout have gained popularity as a way for pensions to “derisk” their balance sheets and lower their headcount for U.S. Pension Benefit Guaranty Corporation (PBGC) premiums.
If there is one word that describes the current debate in Congress over the proposed American Health Care Act (AHCA), it is uncertainty. Almost everything about the proposed bill is currently unclear, including whether it will pass, what it will look like if it does, and how it will affect people if it does get […]