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A “snapshot” survey conducted in October found the start of disclosure of fees from retirement plan service providers spurred little change in the behavior of either plan participants or sponsors. A total of 176 defined contribution plan sponsors responded to the Plan Sponsor Council of America’s survey, launched a few weeks after sponsors began disclosing […]
Not many HR professionals take the importance of retaining top performers for granted. Recruiting, hiring, and bringing new employees up to speed can bring on a sense of dread. Plus, having to slog through daily work while a position goes unfilled adds to the burden. So employee retention and engagement becomes a priority, and the […]
Wal-Mart, the nation’s largest private employer, is getting in on the concept of “Centers of excellence,” a method of steering referrals to providers who perform more efficiently in a bid to bend the health cost curve. With the generous coverage, the company creates good press and may counter its reputation as being skimpy on workers’ benefits. […]
Twelve well-known U.S. financial services industry figures will meet Sept. 11 with the chairman of the Securities and Exchange Commission to discuss their “Fiduciary Declaration,” which will urge Congress and the agency to heighten protection for those receiving investment advice. The declaration, to be signed by Paul Volcker, John C. “Jack” Bogle, Sheila Bair and […]
Branches of the federal government have taken divergent actions affecting same-sex partners. A federal district court upheld a state law defining marriage as occurring between a man and a woman; meanwhile, the U.S. Office of Personnel Management has issued final and proposed regulations to expand federal employees’ benefits coverage to their same-sex partners and those […]
There is some persistent confusion over what the implementation of the health reform law means for health flexible spending accounts and health savings accounts. The short answer is that with one exception, employers and plan administrators must follow different steps for health FSAs and HSAs. Understanding these steps is crucial, because the time to prepare […]
Employers will not have any reason to adjust their qualified transportation fringe benefit plans — not as a result of a major highway funding bill that recently became law, anyway. That bill, known as the Moving Ahead for Progress in the 21st Century, or MAP-21, once had a transit benefit parity provision in it, which […]
With the Supreme Court’s June 28 ruling affirming health reform, its legal requirements on employer health plans are a green light. Plans therefore continue to face important requirements this calendar year. Fortunately, they’re the same ones employers have known about for some time. But if an employer has been holding off from comprehensive implementation, a […]
Employers that offer qualified transportation benefits should be aware that they may soon need to adjust their plans. Lawmakers on Capitol Hill are setting the stage for the possible passage of a two-year federal highway funding law that could include a transit parity provision — which would return the mass transit exclusion to parity with […]
Voters in Washington state and Maryland will weigh in on whether same-sex marriage should be legal in their states. Employers in these states — as well as those in adjacent states where same-sex marriage is not legal — would be wise to monitor developments and use the upcoming months to prepare for any possible changes […]