Practical HR Tips, News & Advice. Updated Daily.
Even if those administering your plan are familiar with the ERISA notice and disclosure requirements, it’s worth remembering the importance of notification during the series of benefits transfers that can occur from corporate takeovers. Not doing so, even if the accrued benefits are shifted to the new company, can leave participants unaware — and possibly […]
Packets being given to retirees and separated, vested employees considering taking an immediate lump-sum distribution from their former employer’s defined benefit retirement plan rather than continuing lifetime income benefits routinely lack some key information needed to make an informed decision, or were unclear, according to the U.S. Government Accountability Office in a recent study. With […]
by Tammy Binford In a ruling that wasn’t a surprise, a federal judge has ruled against Nebraska’s ban on same-sex marriage. But the fate of the state’s constitutional amendment prohibiting same-sex marriage awaits an appeal to the U.S. 8th Circuit Court of Appeals. U.S. District Judge Joseph Bataillon issued the ruling on March 2. It […]
Preparing employer benefit plans’ annual filings to federal agencies can be detailed and time-consuming. A review of recent changes to the 2014 Form 5500 series indicates this process could become even more laborious for some plans, as the government seeks more data disclosure. The Form 5500 is used by multiple government agencies (the U.S. Department […]
Distributing abandoned small accounts in the 401(k) plans of participants who have left the company is a necessary evil for plan sponsors, to keep the plan focused on managing larger, active holdings and controlling costs. Despite the benefits for the plan that this form of housekeeping provides, results from these “forced transfers” may be less […]
In yesterday’s Advisor, we reviewed options for transitioning employees into retirement and how such programs benefit employers; today, how your partial retirement program can benefit employees as well.
by Jane Pfeifle On Monday, a federal judge in Sioux Falls ruled that South Dakota’s constitutional and statutory prohibition on same-sex marriage violated the U.S. Constitution. Six same-sex couples filed a lawsuit against the governor, the attorney general, the secretary of the South Dakota Department of Health, and other public officials seeking to overturn the […]
by Robert J. Sniffen and Jeff Slanker Effective January 6, 2015, same-sex marriage will be lawful in Florida. On December 19, 2014, the U.S. Supreme Court declined to extend the postponement of a federal district court’s decision that Florida’s ban on same-sex marriage was unconstitutional. The district court judge postponed his order until January 5, 2015, […]
by Kevin J. Skelly Paid sick leave laws are gaining ground in New Jersey, as new laws in several cities are scheduled to take effect in the coming weeks and months. Paterson, Irvington, Passaic, Newark, East Orange, Jersey City, Trenton, and Montclair have passed laws either in city councils or, in the case of Trenton […]
The next three months are crunch time. Employers have to get moving on several deadlines, most of them required under health care reform. Some reform rules should have taken effect in 2014, but were subject to the year-long delay instituted by the Obama administration. Health Plan Identifiers Nov. 5, 2014 is the deadline for large group […]