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The Internal Revenue Service (IRS) has issued several changes to its preapproved qualified retirement plan program, in line with its phaseout at the beginning of 2017 of much of the determination letter program for individually designed plans.
Like other professionals, compensation professionals can throw around a bunch of terms and acronyms that may or may not make a lot of sense to those not in the field. And, when we’re asked what they mean, we’re sometimes stymied when providing easy to understand definitions that are clear and concise.
The American Institute of CPAs’ (AICPA) Auditing Standards Board (ASB) recently issued a proposed Statement on Auditing Standards (SAS) that will affect all independent qualified public audits of employee benefit plans, especially limited-scope audits.
“Talent wins games, but teamwork and intelligence win championships.” Michael Jordan wasn’t talking here about retirement, and in fact, we don’t know that he ever has. But his words can certainly apply to the subject. In today’s world, each individual must take charge of his or her own retirement. Still, there are many ways others […]
Benefits specialists identify providing financial wellness training and tools as a key workplace trend for 2017. “Financial wellness is hot. In the past year, the number of employers recognizing the impact financial stress has on employee productivity reached critical mass. As a result, we are seeing a big jump in the number of companies saying […]
The fiduciary duty rule crafted by the Obama administration’s Department of Labor (DOL) will become applicable June 9, as the regulatory agency continues to review it for possible changes or reversal.
Is 70 becoming the new retirement age? According to a recent CareerBuilder survey, 30% of U.S. workers ages 60 and older plan to retire at age 70 or older. Another 20% don’t believe they will ever be able to retire.
Did you know that under existing laws, the person or organization who manages your company’s 401(k) is not legally obligated to provide advice that is in the best interest of the investor? If that seems crazy to you, then it perhaps will come as no surprise that this is about to be changed with the […]
by Lisa Higgins, Contributing Editor Have you given your employees every opportunity to reach a secure retirement? There is one simple strategy you may not be using that could make a real difference: the Roth account. According to a survey from Willis Towers Watson, Capturing the Opportunity of Roth 401(k) Contributions, What Employees Are Missing […]
For years, BLR has surveyed HR, compensation, and benefits professionals to find trends in benefits. We appreciate your participation in our series of brief, targeted benefits surveys. Today’s survey topic: Benefits Other than Health Insurance. (We’ll publish the results in a future issue.) Complete the Benefits Other than Health Insurance Survey now Please participate in […]