Tag: 2016

minimum wage

Maine Minimum Wage Increase Set to Take Effect January 1

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.

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healthcare

HSA Use Grew 23% Between 2016 and 2017, Report Finds

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.

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Defined benefit retirement plan

Multiemployer Pension Plan Funding Nears Peak Since 2008 Crash, Study Says

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 […]

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HSA

HSAs Have Become Significant Part of Employer Health Plan Coverage, Says EBRI

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).

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Defined benefit retirement plan

DB Plan Sponsors’ Interest in Pension Risk Transfer Accelerating

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.”

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California

New California Laws and HR Trends for 2017 and Beyond

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 […]

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generation Z

The Skinny on Generation Z

In new research conducted by iCIMS, we get a rare look at Generation Z. Specifically, the report looks at the class of 2017.

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COBRA

New Report May Help COBRA Plan Admins Seeking Insight on HCTC Advance Payment Process

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. […]

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