Practical HR Tips, News & Advice. Updated Daily.
Many qualified profit-sharing and 401(k) retirement plans allow participants to take loans from their account balance. To ensure that the loan is repaid and to avoid administrative headaches, many plans require repayments be made by payroll deduction.
The financial well-being of U.S. employees reversed direction this year following several years of steady improvement, according to a new survey by Willis Towers Watson, a global advisory, broking, and solutions company. The biennial survey also revealed a large increase in the number of employees who say their financial woes are negatively affecting their lives […]
With open enrollment well underway for most organizations and the end of calendar year fast approaching, it’s time for HR departments to focus on Affordable Care Act (ACA) reporting for plan year 2017. Though HR teams have a few years of experience navigating the ACA reporting requirements under their belts, confusion and stress levels continue […]
Support for single-payer health insurance is growing, slowly but surely, yet many employers are taking little heed of the debate. Amy Evans, an employee benefit insurance expert, and attorney Christine Roberts contend on the Employee Benefits News website, though, that employers can’t afford to ignore it anymore. They enumerate several reasons you need to stay […]
Nearly all of us have at least heard of Employee Stock Ownership Plans—also known as ESOPs—but far fewer are sure exactly how they work and why organizations would want to offer them.
To ease employees’ concerns about access to their elective deferrals in the event of a financial emergency, an employer may provide for hardship withdrawals in its plan. This can provide some peace of mind during difficult times.
The Pension Benefit Guaranty Corporation (PBGC) Fiscal Year 2017 Annual Report, released on November 16, shows that the deficit in its insurance program for multiemployer plans rose to $65.1 billion at the end of FY 2017, up from $58.8 billion a year earlier.
We’re right in the middle of open enrollment season, which can be a confusing and stressful time for your employees as they make their selections for the coming year. Arm them with the right knowledge and tools for a successful open enrollment period and they’ll thank you for it— after all, healthy employees are happy […]
On November 27, the U.S. Department of Labor (DOL) announced an 18-month extension—from January 1, 2018 to July 1, 2019—of the special Transition Period for the Fiduciary Rule’s Best Interest Contract Exemption and the Principal Transactions Exemption, and of the applicability of certain amendments to Prohibited Transaction Exemption 84-24 (PTEs). This extension follows public comment […]
The Arkansas Court of Appeals recently affirmed the Arkansas Workers’ Compensation Commission’s award of additional workers’ compensation benefits to a former employee of the Arkansas Department of Corrections (ADC).