Practical HR Tips, News & Advice. Updated Daily.
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 […]
In yesterday’s Advisor, we talked about how frustrating it is to get all the way through the recruiting process and finally find a good candidate, only to have the job offer be rejected. We outlined a few options for improving offer acceptance rates, and today we’re continuing with that list.
According to recent research from CareerBuilder, 45% of employees have gained weight while at their current job.
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.