Changes to the Maine minimum wage law taking effect January 1 mean that the minimum wage for tipped workers will continue to be $5 an hour instead of rising $1 an hour like the minimum wage for workers who don’t receive tips.
The number of health savings accounts (HSAs) surpassed 21 million, holding about $42.7 billion in assets, according to a research report by Devenir. The investment advisor firm noted that represents a year-over-year increase between June 30, 2016 and June 30, 2017, of 23% for HSA assets and 16% for the accounts.
Multiemployer retirement plans’ funding in the first half of 2017 neared its best position since the market collapse of 2008, according to a new study by the actuarial consulting firm Milliman. But despite an average funded percentage of 81%, these plans still face significant pressures, with many on track to require assistance in the future […]
Both enrollment in health savings account (HSA)-eligible health plans and the number of HSAs have grown significantly since HSAs first became available in 2004; as a result, HSAs have become a significant part of employment-based health plans, according to an issue brief from the Employee Benefit Research Institute (EBRI).
Interest in transferring pension risk off their balance sheets and on to insurance companies appear to be accelerating among U.S. defined benefit (DB) retirement plan sponsors, according to a recent poll conducted by insurer MetLife. The poll’s results lead MetLife to predict 2017 will be “another very robust year of [pension risk transfer] market activity.”
More brand new MBAs are looking beyond Wall Street for career opportunities than ever before.
Each year, California employers are faced with the task of keeping up with a whole new round of labor laws and regulations, most of them courtesy of the state legislature. This year is no exception, with many changes occurring midyear. Staying up to date and ensuring compliance with these ever-changing state, local, and federal laws […]
In new research conducted by iCIMS, we get a rare look at Generation Z. Specifically, the report looks at the class of 2017.
In April, the Internal Revenue Service (IRS) published guidance clarifying the definition of highly compensated employees (HCEs), a key concept for nondiscrimination testing of both retirement plans and cafeteria plans.
Consolidated Omnibus Budget Reconciliation Act (COBRA) plan administrators seeking to better understand how the Health Coverage Tax Credit (HCTC)—including its advance payment system and how it will impact COBRA coverage and documentation—may find useful a new report issued by Treasury Inspector General for Tax Administration (TIGTA), as well as corresponding Internal Revenue Service (IRS) recommendations. […]