International Foundation of Employee Benefit Plans

JUNE 24, 2024

According to recent data from Horizon Actuarial Services, LLC and the International Foundation of Employee Benefit Plans, the fifteen-year period between 2006 and 2020 was turbulent for multiemployer defined benefit (DB) pension plans.

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Employee Benefits

SEPTEMBER 11, 2024

Only a quarter of UK employers think their defined contribution (DC) pension provision will leave their workers with a comfortable retirement, according to research by Willis Towers Watson (WTW). Meanwhile, the majority (86%) of employers with matching contribution structures auto-enrol employees at the minimum contribution level.

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Employee Benefits

JUNE 3, 2024

A former director of 1066 Target Sports in St Leonards, East Sussex, has received a £15,000 fine for withholding legally-required pensions information. It found that Bartholomew had intentionally failed to provide the required information by the deadline of 8 July 2020, and that he had suppressed the material without reasonable excuse.

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Employee Benefits

JULY 26, 2024

Members of the Box Clever pension scheme will receive their pension benefits in full following an in-principle deal between The Pensions Regulator (TPR) and ITV. Employees were then transferred to the new organisation and enrolled in the Box Clever pension scheme.

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Employee Benefits

FEBRUARY 21, 2022

The figures, sourced from providers on behalf of industry body Group Risk Development (Grid), highlighted that more than £168 million was awarded last year, up from £93 million in 2020. Payment of a group life assurance benefit provides a vital financial lifeline for dependants, she added.

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Employee Benefits

NOVEMBER 6, 2023

Ovo Energy When Ovo Energy took over SSE Energy Services in 2020, it needed to harmonise benefits across the two organsiations. Employees would receive a flex pay arrangement , worth an additional 9% of salary. The starting point was the pension plan. We also get good feedback when people join.”

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Employee Benefits

MAY 9, 2023

Travel business Thomas Cook has completed a £900 million bulk purchase annuity buy-in transaction for its UK pension scheme. Aviva insured the defined benefit (DB) pension liabilities for more than 12,500 scheme members following the liquidation of the business in 2019.

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Employee Benefits

SEPTEMBER 13, 2023

Need to know: A raft of proposals have been launched to improve value for money in pension schemes. In July, Chancellor of the Exchequer Jeremy Hunt proposed a number of pension reforms in his Mansion House speech, with an overarching focus on value for money for members.

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Employee Benefits

JANUARY 12, 2022

An allocation of more than 1,000 shares with a cash value of around £500, which can be sold back to the share investment plan (Sip) tax-free in five years’ time, is available to HHC employees who work 30-hours per week or more. The post Highland Home Carers motivates staff with shares and bonus schemes appeared first on Employee Benefits.

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Employee Benefits

FEBRUARY 14, 2024

Birmingham Chamber of Commerce, which supports local businesses, has completed a £9 million pension buy-in. The post Birmingham Chamber of Commerce completes £9 million pension buy-in appeared first on Employee Benefits.

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Proskauer's Employee Benefits & Executive Compensa

JUNE 5, 2023

27, 2023), the court held that financial support provided by Congress to a multiemployer pension plan under the Bipartisan American Miners Act (“BAMA”) did not divest the plan of Article III standing to pursue the withdrawal liability it was owed. In Holland v. Murray , No. 21-cv-567, 2023 WL 2645708 (D.D.C. Bank , 140 S.

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Employee Benefits

DECEMBER 13, 2021

Suez works closely with works councils, and pensions is always on the agenda as there is regular demand for higher employer contributions. So I wanted to find a way to prove that we as a business were getting value for money from that pension scheme and that it in turn provided value to members.”. That’s real value for money.”

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Employee Benefits

JUNE 12, 2023

The Police Federation of England and Wales (PFEW) has been found to have discriminated against and victimised members who previously made claims against the government after being moved to pension schemes with reduced benefits. In May 2020, PFEW launched its own action against the government on the same basis.

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Global People Strategist

JUNE 22, 2020

Italy offers a wide variety of benefits to employees across the country. From vacation and holiday leave to maternity and overtime benefits, learn about employee benefits in Italy for 2020. All employees in Italy are liable to receive national holidays. Pension Fund and Social Security.

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Benefits Notes

AUGUST 9, 2022

On August 3, 2022, the IRS published Notice 2022-33, which extends the deadlines for amending retirement plans and IRAs to reflect certain changes to the law made by the SECURE Act; the Bipartisan American Miners Act; and section 2203 (allowing waiver of 2020 required minimum distributions) of the CARES Act. December 31, 2025.

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HR Digest

SEPTEMBER 3, 2021

The most obvious and devastating cost is the record declines of the real gross domestic product (GDP) in the second quarter of 2020 while unemployment soared and left an unprecedented hole in the state and federal budget. This may come as a surprise that workers kept up with payments into their pension funds last year.

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Employee Benefits

NOVEMBER 17, 2023

Of these, 30% pay men at least 10% more per hour on average, while a further 32% pay male employees between 5% and 9% more than their female colleagues. Over the course of a career, this disparity can amount to a significant difference in pay , with the potential to also impact womens’ pension savings.

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Employee Benefits

JUNE 3, 2024

Following a review of its pension scheme and a consultation in 2020, kitchen furniture manufacturer Howdens chose to close its defined benefit (DB) scheme in 2021. The organisation runs regular sessions with employees, both in-person or online.

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Employee Benefits

DECEMBER 11, 2023

Most of us spend the majority of our working life saving into our pension. However, all this hard work saving can quickly unravel for those who aren’t aware of common pension mistakes. WEALTH at work outlines below the top 10 pension mistakes individuals could make, to highlight what employees facing retirement may need support with.

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McNees

JANUARY 19, 2021

The Consolidated Appropriations Act, 2021 (“Act”), signed by President Trump on December 27, 2020, contains several provisions affecting employee benefits. The distribution applies to certain federal disasters declared between January 1, 2020 and February 25, 2021, but excludes COVID as a disaster.

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Employee Benefits

APRIL 24, 2024

The new reporting regime for pension schemes to disclose their investment allocations to UK markets is flawed. Ken Scott, head of investment solutions at Royal London, says: “Department for Work and Pensions (DWP) best practice suggests that lifestyling is a key consideration. per annum to 31 December 2023.

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McNees

MARCH 18, 2021

As well as providing extended unemployment, the Act provides for subsidized COBRA, an increase in the amount of dependent care assistance permitted, continued and expanded credit for paid sick and family leave, and assistance for certain single and multiemployer pension plans. Single Pension Plan. Multiemployer Pension Plan.

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cipHR

JULY 30, 2020

Too often, employee wellbeing initiatives can focus solely on physical and mental health. In February 2020, the Money and Pension Service (MAPS) rolled out a 10-year strategy for financial wellbeing , which identifies workplaces as a key channel through which the UK can become financially healthier.

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Employee Benefits

JANUARY 5, 2022

More people should be automatically enrolled in workplace pensions , scrapping the age and earnings thresholds that have existed since auto-enrolment began to be phased in a decade ago. Since auto-enrolment was introduced in 2012, the proportion of employees in workplace pension schemes has risen from 47% to nearly 78% in 2020.

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Employee Benefits

JANUARY 11, 2023

He was employed by DTS as an employability adviser under a Department of Work and Pensions (DWP) contract from February 2020 until his dismissal on 15 October 2020. The post Disabled employability adviser wins £30,000 in discrimination claim appeared first on Employee Benefits.

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Benefits Notes

MARCH 31, 2021

Many of the provisions in this sweeping legislation bring changes to the employee benefits world of which employers should take note and which are summarized below. The ARPA contains several new rules which impact COBRA benefits. Single Employer Pension Plan Provisions. Subsidized COBRA. Multiemployer Plan Provisions.

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Family and Medical Leave Act Employee Benefits Taxes Pension 40

HR Digest

FEBRUARY 25, 2020

Gig Economy Statistics 2020. One in three employers of 100,000 employees or more said they expected to use 30% or more contingent workers by 2020. One in three employers of 100,000 employees or more said they expected to use 30% or more contingent workers by 2020. Why is the Gig Economy growing?

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Employee Benefits

AUGUST 1, 2023

A tribunal has upheld a decision by The Pensions Regulator (TPR) to issue a contribution notice for Anant Shah, the former owner of the Meghraj Group Pension Scheme , to pay £1.8 In June 2020, a determination notice confirmed that £3.6 The post Tribunal rules Meghraj Group Pension’s former owner must pay in £1.8

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Employee Benefits

MARCH 10, 2023

When it comes to organisations’ reward propositions, for example, there are still some significant gaps when it comes to pay and pensions. This is the highest gender pensions gap since 2015-2016, when it was deemed to be 40.7%. This is the highest gender pensions gap since 2015-2016, when it was deemed to be 40.7%.

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Employee Benefits

FEBRUARY 23, 2024

This was also reinforced under new management in March 2020. This includes providing drivers with the London living wage guarantee, explicit holiday pay entitlement and access to a pension, without compromising on the flexibility our drivers demand.

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Employee Benefits

JANUARY 21, 2022

While some Northern Irish staff qualify for a £500 payment from the Department of Health, the organisation will provide the payment to workers in all jurisdictions, with £500 for those working between 17 March 2020 and 31 January 2021, and £200 for those who joined after 1 February 2021.

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Employee Benefits

MARCH 14, 2023

The findings revealed that the median pay growth rate fell between March and May 2020, but 6.7% was higher than the average growth rate before March 2020. year-on-year in February appeared first on Employee Benefits. Median monthly pay in February 2023 was £2,193, a 6.7% and regular pay, excluding bonuses, grew by 6.5%

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cipHR

MAY 4, 2022

Perhaps unsurprisingly, after two years of pandemic-led disruption and rising living costs, among the most popular employee benefits are those which help supplement squeezed incomes, support people’s health, and encourage work-life balance. Here’s a rundown of the top 15 benefits and perks for all employees: 1.

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Proskauer's Employee Benefits & Executive Compensa

SEPTEMBER 22, 2022

As noted below, SRCs need not include any amount for pension benefits.). For example, the first disclosures in 2023 will highlight pay vs. performance for legacy compensation programs from 2022, 2021, and 2020, all of which were approved before the new rule.

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Insperity

FEBRUARY 9, 2021

Internal Revenue Service (IRS) 2020 Employer’s Supplemental Tax Guide. Department of Labor (DOL) announced a final rule for clarifying how to determine whether a worker is an employee under the FLSA or an independent contractor. If a worker receives benefits, they’re an employee. Additionally, on Jan. 6, 2021, the U.S.

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Employee Benefits

JULY 10, 2023

Implementing the right employee benefits can be a powerful motivator for your staff, fostering their loyalty to your company. Ideally, your employees should grow in tandem with your business, climbing the professional ladder as your company expands. In recent times employee benefits have taken on an unprecedented importance.

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Employee Benefits

FEBRUARY 8, 2022

Author Name: Tracey Ward, Head of Business Development and Marketing at Generali UK Employee Benefits. 1 Meanwhile, for employees, all of this is only serving to add to all the change and perceived uncertainty currently faced in their working lives, not to mention the very tangible pinch as UK inflation hits a 30 year high.

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