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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.
Defined benefit (DB) plan sponsors received another “derisking” tool in early March when the Internal Revenue Service (IRS) and U.S. Treasury Department unexpectedly reversed course on retiree lump-sum payouts.
If you missed a paycheck, how much would that threaten your family’s financial situation? That’s the question that became a reality for hundreds of thousands of federal workers in the most recent government shutdown. Unexpectedly, the shutdown highlighted a massive issue in American life: most working professionals—even federal workers—are living paycheck to paycheck and need […]
Many 401(k) plan sponsors seek to reduce their potential fiduciary liability by electing to be a Section 404(c) plan. Under Employee Retirement Income Security Act (ERISA) Section 404(c), a fiduciary is not liable for losses in the plan resulting from the participant’s selection of investments in his or her own account, provided that the participant […]
We’re now in the thick of the fourth reporting season for the Affordable Care Act (ACA) and for many HR professionals, it’s still a tricky requirement. There always seems to be an ACA provision that’s changing, being debated, or even disappearing.
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. […]
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 […]