Across the board, Americans are struggling with their finances. Student debt is continuing to skyrocket, the average retirement age is slowly climbing, and 65% of Americans have little or nothing in their savings accounts. For Millennials, the problem is only exacerbated—most plan to retire at 60, yet a staggering 66% have nothing saved for retirement. […]
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.
Paid family leave has become an important issue in the U.S. for both employees and employers. Recently I spoke with Breanna Scott, Director of Product & Service Management at The Standard to discuss paid family leave trends in 2019.
For the third year in a row, respondents to the annual Callan Institute “Defined Contribution (DC) Trends Survey” specified reviewing their plan fees as a key area of focus and as the best way to improve their fiduciary position as plan sponsors.
U.S. Department of Labor (DOL) monetary recoveries on behalf of benefit programs and participants by its Employee Benefits Security Administration (EBSA) unit totaled more than $1.6 billion for fiscal year (FY) 2018, up 45 percent from the $1.1 billion recovered in FY 2017, statistics from the department showed.
Communicating with employees is one of the most important aspects of any workplace retirement plan. A plan may be carefully designed to help participants achieve their retirement objectives, but if the plan sponsor does not effectively communicate the key information, the participants may not have the understanding they need to succeed in reaching their goals.
In the employee benefits space, we’ve seen a significant shift in recent years. Emphasis has moved away from flashy, unorthodox benefits toward practical ones that make it easier for people to stay engaged at work, while still having a life outside. That trend is sure to stick around, but the changing demographics and priorities of […]
Managing healthcare costs has been at the top of most HR professionals’ (pro) to-do lists for the better part of the past decade, as medical costs continue to rise. With the onset of 2019, the New Year presents the opportunity to make it happen. Fifty-two percent of U.S. consumers have low healthcare system literacy, according […]
Saturated with jobs and lacking enough people to fill them, the tight labor market continues to make headlines, and for employers it’s not just a news story. Instead, it is a new reality that will be here for the foreseeable future. Making your organization stand out from the crowd is increasingly important—and more challenging.
Employers today face a variety of challenges related to employee health, ranging from increasing costs, work-related stress, and dissatisfaction to reduced productivity and engagement.
Recent lawsuits alleging the use of “outdated” mortality tables when calculating benefits payable in annuity distributions or at early retirement could be part of a new trend that poses a threat to defined benefit (DB) plans, according to one law firm’s employee benefits practice.