The use of 401(k) plan loans in 2018 fell to a 9-year low of 22.5% of participants and continued a steady 6-year decline of nearly 10 percentage points, investment management firm T. Rowe Price said on May 1, drawing on data gathered from nearly 2 million participants for its annual benchmarking report.
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.
The Internal Revenue Service (IRS) starting September 1 will accept determination letter applications for a few more categories of individually designed plans, it announced in Revenue Procedure (Rev. Proc.) 2019-20, released May 1.
Human resource professionals need to consider company characteristics when offering benefits consultancy to clients.
In 2008, the Internal Revenue Service (IRS) established a voluntary program aimed at retirement plan sponsors and administrators to encourage correction and resolution of plan document or operational failures as soon as they are discovered. The Employee Plans Compliance Resolution System, or “EPCRS” as it is most often called, stresses the importance of established administrative […]
Most of us have heard of the “parking lot” in business—the place where ideas not pertinent to a discussion get moved. With the perceived complexity of the health and wealth landscape, as well as the challenges facing employees for the long haul, it’s no surprise that many consumers are moving their health and wealth to […]
Does your organization provide short- and long-term disability insurance for employees? If not, is this something the organization has considered adding to your benefit package?
With the majority of Americans being classified as either overweight or obese, it stands to reason that the vast majority of employers will have many overweight individuals as employees. While most of the time this is not something of consideration, some overweight individuals may benefit from employer assistance to ensure their working environment can accommodate […]
The original “excessive fees” case—first filed in 2006—finally concluded on March 28 with a $55 million settlement for the plaintiffs, one of the largest ever awarded in 401(k) fee litigation.
Do your employees and bottom line a favor—think before you dole out those trendy benefits.
With mergers and acquisitions (M&A) activity hitting record highs despite recent stock market volatility, companies that may be targets or acquirers must take a second look at their nonqualified retirement benefit plans.