…companies have to stop waiting for an employee to be with them for a year before allowing new employees to participate in a company 401(k) plan and receive matching contributions. Millennials have a lot on their plate when they graduate and companies that don’t offer…
…find them on the other end of your phone. But those phone calls and audits can be beneficial to plan participants: the DOL’s Employee Benefits Security Administration (EBSA) agency, through its enforcement of the Employee Retirement Income Security Act of 1974 (ERISA), is responsible for…
…that deposit employee contributions in a plan account within seven business days after the contributions are withheld from employees’ wages or received by the employer will automatically satisfy the law’s requirements. Allocations to specific participant accounts and investments do not have to be completed within…
…their plan’s operations regularly. Common errors include: Not covering the proper employees. Make sure that employees are given the opportunity to participate in the plan as soon as they become eligible under the plan’s terms. Not giving employees required information. All plan participants should receive…
…loan repayments made by employees. The bill would help workers who cannot afford to both save for retirement and pay off their student loan debt. If enacted, the law would allow employers to offer student-loan-repayment-related benefits to both their existing employees as well as potential…
…what your organization is offering its employees in this area – not just the type of plans, but what those plans actually contain – you are doing everyone a disservice … including yourself, if valued current and future employees start leaving for other companies with…
…what it can mean to small business owners and their employees. The most significant retirement plan legislation in more than a decade, SECURE is primarily about broadening participation in qualified retirement plans. A major component of SECURE is that it dramatically increases tax credits for…
…is certainly an encouraging sign that the average life expectancy of Americans continues to rise – from 76.6 years in 2000 to 78.6 years in 2016 – many employees are not adjusting their anticipated retirement age. The CRR posits that, as retirees become more reliant…
…establishing “a new, additional safe harbor for employee benefit plan administrators to use electronic media, as a default, to furnish information to participants and beneficiaries of plans subject to the Employee Retirement Income Security Act of 1974 (ERISA).” And yes, that translates as email, text…
…they do, plan sponsors, as fiduciaries, can be held responsible. Administering a retirement plan carries with it a fiduciary duty to act with the highest standard of care. The Employee Retirement Income Security Act of 1974 (ERISA) requires fiduciaries—like the plan sponsor—to act as a…
As we head into 2019, below are five questions relating to current trends and topics which are expected to impact retirement and savings next year: How will tax reform continue to impact savings and retirement? Overall, the reduction in U.S. corporate tax rates contributed significantly…
…Value in Health Care shed some light on recent utilization and price trends in health care spending. Chart 1 indicates that over the 1990-2018 period, growth in utilization of most categories of health care services has declined from its early-1990s peaks, although utilization has peaked…