Practical HR Tips, News & Advice. Updated Daily.
On March 28, the IRS issued long-awaited guidance to help 403(b) retirement plan sponsors comply with written plan document requirements in the form of Revenue Procedure 2013-22, which contains a “master and prototype program,” and an information package with sample plan provisions. As a result, beginning June 28, 2013, the IRS will accept plan sponsor […]
Employers will be affected by the U.S. Supreme Court’s impending ruling on the constitutionality of the federal Defense of Marriage Act — no matter how the Court rules. The argument in this case hinges on Section 3 of DOMA and the fact that under DOMA, it is not possible for same-sex spouses to have access […]
Employers are understandably nervous about the transitional reinsurance fee, which health insurers and employer health plans must pay from 2014 through 2016. The fee will be collected by HHS, even though the states will tailor their own risk adjustment programs. It must be paid annually. Plans will probably make their first payment for 2014 a […]
Employers could use auto-escalation as a way to encourage 401(k) participants to increase their contributions and reduce the number of employees missing out on matching contributions from the plan sponsor. That’s the finding by WorldatWork and the American Benefits Institute, which said that nearly a third of U.S. retirement plan sponsors they surveyed think more […]
Previous workers’ compensation laws in California created a situation where the costs associated with providing medical treatment and benefits to injured workers and administering workers’ compensation claims had begun to rise significantly. If costs were permitted to continue to rise, employers would be faced with increases in their workers’ compensation insurance rates, which would add […]
Employer group health plans must eliminate waiting periods of more than 90 days before enrolling otherwise eligible employees (or dependents) into health coverage, under proposed rules issued on March 18 by the federal agencies implementing health reform. For Clear Full-time Hires, It’s 90 Days Group health plans and health insurers in the group plan setting […]
Employers based outside Vermont will have to provide the health coverage to same-sex spouses of Vermont residents if a just-passed bill is enacted. The Vermont House of Representatives passed the measure on March 15; the state Senate followed suit on March 19. It now goes to Gov. Peter Shumlin (D). If he signs it, the […]
The Final FMLA rule makes four changes (or clarifications) to the listed qualifying exigencies, says Schoenfeld, Senior Legal Editor on BLR’s human resources team. Clarifies that, for the purposes of leave for childcare and school activities, the child must be the military member’s child or a child for whom the military member stands in loco […]
Data from late 2012 show women in the United States closing the gap in defined contribution plan balances and savings rates compared with their male counterparts, but gaps remain in women’s retirement funding strategies that plan sponsors can help address. Although female plan participants long have been known to save less than men for retirement, […]
With thousands of pages of new laws and rules, there must be thousands of new reasons for employees to sue for health benefits not delivered properly in the wake of near-complete enactment of health reform starting in 2014, one could be forgiven for thinking. Health reform certainly does appear to be somewhat of a litigation […]