Practical HR Tips, News & Advice. Updated Daily.
The Bipartisan Budget Act of 2018 enacted in February relaxed certain restrictions on hardship withdrawals from 401(k) and 403(b) retirement plans (see, New Federal Budget Relaxes Hardship Withdrawals for Retirement Plan Participants), starting in 2019. But defined contribution (DC) retirement plan sponsors also should be aware that, in contrast, the federal Tax Cuts and Jobs […]
Financial stress of employees costs the U.S. $250 billion in lost time. According to a recent Mercer financial wellness survey, 62% of the employees surveyed were worried about just keeping up with monthly expenses. So what choices do you and your employees have to combat financial stress?
The Internal Revenue Service (IRS) is lowering back to 2017’s level the fee it charges for applications seeking determination letters for terminating retirement plans, the agency announced on March 14.
Defined benefit (DB) retirement plan sponsors with restated preapproved plan documents that were part of the latest Internal Revenue Service (IRS) 6-year remedial amendment cycle can benefit from some of the lessons learned by other sponsors that have completed the defined contribution (DC) cycle.
With unemployment rates inching ever lower, employers are becoming more and more concerned with employee retention. Vacancies are getting tougher to fill, making it even more of a concern when an employee leaves.
Paid leave can be any type of leave that an employer offers to employees with pay. It includes things like sick days and vacation days, but most of the time when we’re discussing “paid leave,” the context is leave that goes beyond the standard paid time off (PTO) plan.
Hub International Limited (Hub), a global insurance brokerage, released the results of its third annual employee benefits study, Employee Benefits Barometer 2018: New Research Reveals the Business Value of Strategic Benefits Planning, which examines the complexities of managing benefits and the value of multi-year planning to better position Human Resources as business strategists to the […]
It has never been more important to keep up with the recent trends surrounding employee benefits. After all, employee benefits are not as simple as a 401(k) plan and a healthcare plan anymore. Businesses are expanding their employee benefits and offering more resources every year. For the companies that want to improve employee retention and […]
Instead of differentiating between maternity leave and leave for new fathers, some companies are implementing gender-blind time off for new parents.
The recent regulations on association health plans (AHPs) would make it easier for employers to provide cost-effective health coverage in a variety of situations, according to comments from a major plan sponsor organization. Other stakeholders, however, worry that AHP expansion might open the door to widespread fraud.