Financial wellness is becoming an increasingly important component of employee benefits packages and a common topic of conversation for human resources professionals nationwide. And with good reason! Nearly three-quarters (72%) of Americans report being stressed about finances and that anxiety can negatively affect their overall health. As a result, employers are expanding financial wellness programs […]
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.
Following a flood of investment derisking activity after the 2008 global financial crisis (see related October 2017 story), defined benefit (DB) plan sponsors now face the fallout from years of rising demand for insurer buyouts of pension benefit obligations (PBOs).
Retirement plan trade organizations and advocates, law firms, and other affected parties proposed to the Internal Revenue Service (IRS) an expanded range of circumstances they believe merit review and determination letter judgment by the tax agency.
A recent survey conducted by Ranstad US explored what workers think about and want from benefits in the workplace. The results showed a staggering majority (94%) want assurances that their benefits will have a real impact on their quality of life. That includes benefits that address student loan debt, work/life balance, and flexibility in general.
Automated features now standard for most employer-sponsored retirement plans helped bring about a record 8.3-percent average participant deferral rate in 2017—the highest level in a decade, according to a recent T. Rowe Price study. The rise in employee deferral amounts perpetuates a trend started in the years after the 2008 financial crisis.
Does your organization offer “green” benefits? Green benefits are benefits that are environmentally friendly in some way. Employers may want to offer green benefits for several different reasons. First, they may be in alignment with company goals and values. Next, they may be a great way to recruit individuals who value the environment and sustainability. […]
Before the holiday, we began to explore some best practices concerning employee assistance programs (EAP’s). Today we have more best practices.
Does your organization offer parental leave beyond the Family and Medical Leave Act (FMLA)? Do you offer paid parental leave? Are your parental leave options available for both mothers and fathers?
There is only one developed nation without some sort of federally mandated paternity leave and it’s the United States. Even when paternity leave is available, it’s usually for only a few weeks and does not come with a full rate of pay or other benefits.
Yesterday we took a look at Internal Revenue Service (IRS) guidance on how to change interest crediting rates in a cash balance (CB) plan. Today we’ll look at the two approaches that the IRS has discussed to address a change in the interest crediting rate.