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The U.S. Pension Benefit Guaranty Corporation may start providing new services to help plan sponsors spend less time identifying, locating and corresponding with missing plan participants. The agency is seeking public comment until Aug. 20 on several aspects of administering a missing participants program when terminating individual account plans, according to a June 21 Federal […]
New health reform rules finalize policies for non-profit organizations that object on religious or moral grounds to gain an exemption from having to “contract, arrange, pay or refer for” contraceptive coverage. The final rules reflect public feedback received in response to Feb. 6, 2013 proposed rules (78 Fed. Reg. 8456). In the proposed rule, the […]
Most U.S. small business owners think the country’s lack of retirement readiness threatens business and the economy, yet that concern doesn’t necessarily translate to concrete action to address it, a new survey has found. Only about one-third of small-business owners offer a retirement plan for their employees, according to “Poll Report: Small Business Owners’ Views on […]
A large employer was socked with $1.85 million in COBRA notice penalties, plus still-to-be determined attorney’s fees, for neglecting its duty as plan administrator to ensure that COBRA election notices were sent on a timely basis. The company’s negligence occurred over several years, affecting hundreds of former employees who participated in a class action lawsuit. […]
Self-funded student health plans and state high-risk pool coverage will be considered minimum essential coverage for calendar year 2014, but they will have to get approved by a health insurance exchange to gain such consideration in 2015, under rules from the Centers for Medicare and Medicaid Services Carrying minimum essential coverage is required for an […]
As a result of the U.S. Supreme Court rulings on same-sex marriage, employers throughout the United States will have to adjust their benefits plans, policies and documents to accommodate employees’ same-sex spouses for purposes of federal law and regulations. California employers will need to do the same for purposes of state law. On June 26, […]
10 Phrases Successful Managers Never Use Whether you’re making a formal request, pitching an applicant, or proposing an idea, there are ten phrases that can ruin your pitch, says author Darlene Price. Editor’s Choice: How To Handle Employee Pay During Winter Weather Closures: INFOGRAPHIC For this edition of the Compensation Daily Advisor, we present you […]
More than a month after Max Baucus, D-Mont., an early proponent of health reform, said the implementation of state-based health insurance marketplaces was going so poorly that a “train wreck” would ensue, the Obama administration is now launching a public relations effort aimed at teaching consumers how to buy marketplace coverage. Marketplaces are supposed to […]
If your plan has been considering adding “in-plan guarantees” to the menu of retirement savings options you offer, new research finds an appetite for them among U.S. defined contribution plan participants. Although the actual market for these instruments in the United States is still limited, the guarantees, which give employees an opportunity while still working […]
Requests for proposals are overtaking more informal referrals and industry networking as the most common way for retirement plan sponsors to select their advisers. But this increasing popularity is not universal — some plans on the East Coast still have not fully embraced RFPs, a new survey found. And cost wasn’t the main driver for […]