Practical HR Tips, News & Advice. Updated Daily.
If it seemed to you that investment and funding decisions for your defined benefit plan in 2012 were at odds with each other, you weren’t alone. In its annual report on DB plans, global employee benefits consultant Towers Watson says that in 2012, once again there were many investment contradictions for U.S. DB plan sponsors: […]
Education is often the best antidote to negative news about 401(k) plans. With this in mind, several retirement industry spokesmen have provided statistics to defend retirement plan management practices after the recent airing of a TV documentary that may have concerned some 401(k) participants. The U.S. retirement investment community was quick to react to the […]
Determining whether group health coverage provides “minimum value” is key to avoiding penalties under health reform’s premium tax credit program, so employers will likely welcome new proposed rules that further explain MV criteria. The proposal, to be published May 3 by IRS, would complement language in final rules issued in February on how reform’s MV […]
Yesterday, we looked at attorney David Schmit’s “Workers’ Comp 101” tips for staying in legal compliance when discipline is necessary—including the importance of good cause and consistent treatment. Today, his thoughts on the key role of documentation.
Jones, who is a partner at Pillsbury Winthrop Shaw Pittman LLP in Los Angeles, offered his wellness guidance at a recent Benefits Bootcamp sponsored by BLR® and HR Hero®. Lawsuit Avoidance Checklist for Your Wellness Program Keep corporate wellness and employment decisions separate. Achievement on a health program shouldn’t be a basis for promotion, for […]
On April 23, a federal district court in Alabama gave final approval to a settlement agreement under which an employer and plan administrator will pay $1.3 million to a group of former employees who alleged they never received COBRA election or premium subsidy information after their involuntary termination of employment. The case is Hornsby v. […]
Jones, who is a partner at Pillsbury Winthrop Shaw Pittman LLP in Los Angeles, offered his wellness guidance at a recent Benefits Bootcamp sponsored by BLR® and HR Hero®. Generally, wellness programs are healthcare options that employers offer to employees to reduce preventable illnesses. They offer obvious benefits to the employee—better health—and benefits to the […]
Employer-sponsored health plans and insurers are required to make two changes to the summary of benefits and coverage, which must be distributed to all health plan participants under health reform. They must add statements of whether their coverage: (1) provides minimum essential coverage; and (2) meets the minimum value requirements. The specific language to be […]
Beyond health insurance and retirement benefits (covered in previous surveys), the number one perk provided by the employers responding to our survey was paid holidays, with 91% percent of them offering it. Other highlights: Flextime is offered by 53% of respondents. About 33% relax their dress code in the summer, at least for some employees. […]
Although many 401(k) plans offer participants loans, a statistic that plan sponsors don’t want to see is the number and size of those loans increasing. But some of them are seeing just that, according to Wells Fargo. A recent study by the banking company of fourth-quarter 2012 activity at the defined contribution plans it administers […]