Practical HR Tips, News & Advice. Updated Daily.
Over the last decade, workplace flexibility has become a hot topic and a priority for many employees. Now that workers have options like telecommuting, alternative scheduling, and freelancing, they’re looking for flexibility in their benefits, too.
Have you ever tried to run with a rock in your shoe? At first, you tell yourself you can keep going—it’s a small rock, after all, and you’re in the zone. Sooner or later, though, what was a small rock causing mild discomfort will cause real pain. You have no choice but to stop and […]
In part one of this article we explored the Department of Labor’s (DOL) guidance for locating missing participants in the event of a plan termination. Today we will look at what constitutes acceptable and unacceptable alternatives.
The U.S. Department of Labor (DOL)’s guidance for locating missing participants in the event of a plan termination has become more widely accepted for finding such participants in a variety of scenarios. But the guidance does not clearly state at what point the retirement plan fiduciary has met its obligation to track down missing participants […]
The Internal Revenue Service (IRS) released a private letter ruling (PLR) on August 17 that appeared to give the go-ahead to an employer-sponsored student loan repayment benefit offered through the company’s 401(k) plan.
If you’re a small business that’s looking to attract workers, you need to know how your company stacks up against the rest. If you’re not offering the same or better salary and benefits as your competition, you’re missing out.
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.