Practical HR Tips, News & Advice. Updated Daily.
This topic provides guidance on how to handle compensation issues in a way that attracts and retains the best talent and advances the strategic goals of your business. You get news and tips on what’s going on nationally and in the states, and updates on changes in regulations, possible governmental action, and emerging compensation trends.
A shift to using real market returns for interest crediting in defined benefit (DB) plans’ cash balance (CB) features is lessening volatility and making the supplementary retirement accounts more appealing to plan sponsors—especially because this type of formula is more responsive to changing market conditions, according to a recent study.
Federal agency audits are never far from the minds of employer retirement plan sponsors and their third-party administrators (TPAs), but knowing which recurring errors and internal controls most interest the Department of Labor (DOL) and the Internal Revenue Service (IRS) right now can be helpful in avoiding or preparing for such inquiries.
Approximately 30% of U.S. defined benefit (DB) pension plans currently have a funded status of 95% or higher, making a full buyout or significant risk transfer transaction a “feasible option” for a growing number of plans since the start of the year, according to a recent analysis by RiskFirst, a financial technology company that works […]
As we know, offering benefits is a great way to attract talent to your company, especially 401(k) retirement benefits—as this particular benefit appeals to workers of all ages.
“Reverse spinoff” transactions being considered by some retirement plans to avoid Pension Benefit Guaranty Corp. (PBGC) premiums “should be disregarded” by the agency, staff suggested in a recent web posting.
Plan sponsors regularly handle situations that arise from a deceased participant’s failure to designate a beneficiary for his or her employer-sponsored retirement account. A private letter ruling (PLR) from the Internal Revenue Service (IRS) earlier this year could provide some insight into the agency’s thinking about allowing surviving spouses to roll over a deceased participant’s […]
If you offer a 401(k) for employees, you may have noticed that not nearly all employees who qualify for it have signed up for it. This can be perplexing for employers. After all, this is a benefit to help employees, and it typically reduces their tax burden while helping them save. Yet many employees don’t […]
Corporate social responsibility (CSR) became a popular discussion topic over the last decade. According to The United Nations Industrial Development Organization (UNIDO), CSR is a “management concept in which companies integrate social and environmental concerns in their business operations and interactions with their stakeholders.” This list of stakeholders can range from consumers to investors, and […]
The Pension Benefit Guaranty Corp. (PBGC) on July 25 launched a web page that compiles staff responses to questions from practitioners about Employee Retirement Income Savings Act (ERISA) Title IV requirements that may be of interest to other practitioners.
Employee compensation administration is changing, and the demand for talent is exploding. In response, companies may be dusting off old salary administration practices. Why the change?