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New York District Court Rejects ERISA Excessive Fee Claims as Insufficient

Proskauer's Employee Benefits & Executive Compensa

A district court in New York recently dismissed a putative class action challenging retirement plan recordkeeping and investment management fees. 21-cv-8458, 2023 WL 186679 (S.D.N.Y. District Court for the Southern District of New York, alleging that it violated ERISA in its management of both a 401(k) plan and a profit-sharing plan.

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8 Employee Incentives That Work: Best Practices from US MNCs

Empuls

These incentives, which include competitive salaries, performance-based bonuses, and profit-sharing plans, have a significant impact on employee motivation, productivity, and overall company performance. Hybrid Profit-sharing Plan: A combination of the above two types, offering both immediate benefits and long-term savings.

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10 Unique Extrinsic Rewards That Your Employees Will Love In 2023

Vantage Circle

Profit-sharing Plans. If you want your people to tackle the company's goals like their own, you need to drive the fact that the more profits the company makes, the more profitable it will be for them. Hence, enter the profit-sharing plan. Life insurance. Disability insurance.

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Compliance Areas for 2024 You Might Not Have Thought Of

PeopleStrategy

You and others in your HR department can help them prepare for retirement by sharing changed retirement plan limits for the coming year. The IRS has made a number of cost-of-living adjustments for 2023, including increasing the amount employees can contribute to their 401(k)s to $23,000 (up $500 from 2023).

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A Guide to Understanding Retirement Rewards and Benefits with Fortune 500 References

Empuls

mostly provided traditional 401(k), while 68% also offered Roth 401(k) plans.    - According to Forbes , companies that provide well-structured and comprehensive retirement plans are seen as 76% more attractive by employees who prioritize financial well-being. -

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