International Foundation of Employee Benefit Plans

JANUARY 17, 2024

On October 31, 2023, the U.S. Department of […] The post How the DOL’s Proposed Fiduciary Rule Would Affect Retirement Plans appeared first on Word on Benefits. The definition of a fiduciary under ERISA, a rule originally written in 1975, has fluctuated in the past decade.

Retirement Plan 101

Retirement Plan Employee Benefits 101

McDermott Will & Emery Employee Benefits

OCTOBER 21, 2022

The Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social Security wage base for 2023.

Employee Benefits 98

Employee Benefits Flexible Spending Account Employment Health Savings Account 98

Proskauer's Employee Benefits & Executive Compensa

JANUARY 3, 2023

was signed into law on December 29, 2022 , making it important for plan sponsors and plan administrators to familiarize themselves with the new rules. Correction of Retirement Plan Overpayments. changes how retirement plan overpayments are corrected in two key ways, which are detailed below.

Retirement Plan 106

Retirement Plan Taxes Utilities Employment 106

HR Lineup

SEPTEMBER 29, 2023

In 2023, the demand for such software has surged, prompting innovation and improvements in existing solutions. Here, we’ll delve into the top 10 financial wellness software options for 2023, examining two of the most notable features of each. Top 10 Employee Financial Wellness Platforms of 2023 1.

Software 130

Software Retirement Plan Financial Counseling Education 130

WEX Inc.

JULY 24, 2023

Fortunately, there’s an often overlooked way to help employees build wealth and prepare for retirement. Why HSAs for retirement planning? These accounts provide another way for your employees to diversify their efforts to prepare for retirement. Click below to get your free HSA retirement white paper.

Retirement Plan 98

Retirement Plan 401(k) Health Savings Account Taxes 98

HR Lineup

OCTOBER 30, 2023

As we venture into 2023, businesses are seeking cutting-edge solutions to simplify HR and accounting tasks. In this article, we will explore the top 10 HR accounting software options available in 2023, each offering a unique set of features and capabilities to cater to different business needs.

Software 130

Software Payroll Human Resources Finance 130

Empuls

AUGUST 27, 2024

Now more than ever, employee benefit packages are considered important for the unwieldy terrain of today's job market. Only those organizations that understand how to use this most powerful approach to their advantage by including comprehensive benefits in kind do well in the market for acquiring and retaining key brainpower.

Family and Medical Leave Act 40

Family and Medical Leave Act Employee Benefits 401(k) Benefits Package 40

McDermott Will & Emery Employee Benefits

NOVEMBER 10, 2023

On November 9, 2023, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain health and welfare plan benefits, including those for health flexible spending arrangements and commuter benefit plans, among other important updates.

Health and Welfare 105

Health and Welfare Employee Benefits Flexible Spending Flexible Spending Account 105

Employee Benefits

APRIL 10, 2023

When the government introduced the pension freedoms in 2015, it gave employees more choices about how and when they could access their pension savings, with people able to draw income directly from the fund or take the whole lot as a cash lump sum. Retirement planning Freedom of access to pension savings has impacted retirement strategies.

Retirement Plan 64

Retirement Plan Pension Taxes Education 64

Proskauer's Employee Benefits & Executive Compensa

OCTOBER 25, 2022

On October 21 st , the IRS released a number of additional inflation adjustments for 2023, including to certain limits for qualified retirement plans. The table below provides an overview of the key adjustments for qualified retirement plans. Qualified Defined Benefit Plans. Annual Maximum Benefit.

Retirement Plan 52

Retirement Plan 401(k) Flexible Spending Account Flexible Spending 52

Proskauer's Employee Benefits & Executive Compensa

SEPTEMBER 21, 2021

The IRS recently updated its “Employee Plans Compliance Resolution System” (EPCRS). By way of background, EPCRS is a correction program administered by the IRS for plan sponsors to correct certain retirement plan errors. New Flexibility to Correct Retirement Plan Overpayments.

Retirement Plan 74

Retirement Plan 401(k) Utilities Employment 74

Best Money Moves

DECEMBER 5, 2023

2024 Employee benefits trends: Focus on employee wellbeing. The right benefits strategy is key to employee satisfaction. Here are the top 2024 employee benefits trends. Employee benefits are a driving force keeping your workforce satisfied. 4 Top 2024 Employee Benefits 1.

Employee Benefits 98

Employee Benefits PTO Financial Counseling Work From Home 98

Griffin Benefits

NOVEMBER 1, 2022

The IRS has finally announced adjustments to 2023 contribution limits on various tax-advantaged health and dependent care spending accounts, retirement plans, and other employee benefits such as adoption assistance and transportation benefits. FSA Employer Contribution Limits for 2023.

401(k) 85

401(k) Retirement Plan Health Savings Account Deductible 85

McDermott Will & Emery Employee Benefits

JANUARY 24, 2023

Join partners from McDermott’s Employee Benefits team on Wednesday, January 25, 2023, as they discuss the impact of the recently passed SECURE 2.0 Takes Second Bite at Retirement Security appeared first on EMPLOYEE BENEFITS BLOG. Act of 2022.

401(k) 97

401(k) Retirement Plan Employee Benefits 97

Best Money Moves

JULY 30, 2024

In a recent PeopleKeep survey, 81 percent of respondents felt that an employer’s benefits package was a deciding factor when accepting a new job. In fact, according to MetLife’s 2024 Employee Benefit Trends Study, 93 percent of employees consider workplace wellbeing as important as salary.

Benefits Package 59

Benefits Package Retirement Plan Education Utilities 59

CorpStrat

JANUARY 17, 2023

Many employee benefits are subject to annual dollar limits that are adjusted for inflation by the IRS each year. The following commonly offered Employee Benefits are subject to these limits: High deductible health plans (HDHPs) and health savings accounts (HSAs). 401(k) plans. Increased Limits.

401(k) 52

401(k) Employee Benefits Flexible Spending Account Health Savings Account 52

Insperity

OCTOBER 10, 2023

To do this, the law makes broad changes to the foundation of retirement preparation in the U.S.: employer-sponsored 401(k) plans. All company retirement plans started in 2023 and thereafter must have an automatic enrollment and escalation provision – also known as “ you’re in unless you’re out.” The SECURE 2.0

401(k) 116

401(k) Retirement Plan Taxes Benefits Package 116

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. SECURE Act.

Retirement Plan 97

Retirement Plan Pension Employee Benefits IT 97

HR Digest

APRIL 22, 2023

The job market is constantly evolving, and as a result, the employee benefits regulations that are expected from employers are also changing. Today, employers are under increasing pressure to stay ahead of employee benefits trends and offer a comprehensive range of workplace benefits that cater to the diverse needs of their employees.

401(k) 105

401(k) Parental Leave Benefits Package PTO 105

WEX Inc.

NOVEMBER 27, 2024

Traditional Health Plan Calculator , which lets you input your annual doctor visit and prescription expenses to see the plan that’s right for you. Pre-tax benefits savings Premiums aren’t the only way you can save on healthcare costs. In 2023, the average employer contribution to employee HSAs was $929.

Deductible 52

Deductible Deductions Health Savings Account Flexible Spending Account 52

Vantage Circle

SEPTEMBER 23, 2023

In today's tough job market, businesses need to attract and keep the best employees to succeed. In 2023, employee benefits are important for businesses. Welcome to “Employee Benefits Guide for 2023: What Employers Need to Know.” Why Are Employee Benefits Important?

Family and Medical Leave Act 59

Family and Medical Leave Act Employee Benefits 401(k) Employment 59

McDermott Will & Emery Employee Benefits

FEBRUARY 1, 2023

What do retirement plan professionals and participants need to know about the recently passed SECURE 2.0 appeared first on EMPLOYEE BENEFITS BLOG. appeared first on EMPLOYEE BENEFITS BLOG. Act of 2022?

401(k) 97

401(k) Retirement Plan Employee Benefits 97

Best Money Moves

MARCH 11, 2024

In fact, according to Forbes Advisor , 40% of employers believe that workers would leave their current jobs to find employment that offers better benefits. Well-tailored, helpful employee benefits go a long way toward keeping your existing team members satisfied while also attracting new talent.

Retirement Plan 105

Retirement Plan Healthcare Healthcare Benefits Parental Leave 105

InterWest Insurance Services

NOVEMBER 25, 2022

The IRS has released the 2023 maximum contribution amounts for health savings accounts and flexible spending accounts. You’ll want to make note of the changes when discussing your employee benefits during annual open enrollment. Here’s the rundown of the changes going into 2023: HSAs and HDHPs.

401(k) 98

401(k) Deductible Deductions Flexible Spending Account 98

Proskauer's Employee Benefits & Executive Compensa

OCTOBER 27, 2023

Department of Labor (the “DOL”) issued final regulations (the “Final Rules”) which address the extent to which ERISA plan fiduciaries may consider environmental, social and governance (“ESG”) factors when making investment decisions and exercising shareholder rights, such as voting proxies, on behalf of ERISA-covered plans.

Government 116

Government Management Retirement Plan IT 116

McDermott Will & Emery Employee Benefits

APRIL 4, 2024

In late December 2023, the Internal Revenue Service (IRS) issued Notice 2024-2 (the Notice), providing guidance on key provisions of the SECURE 2.0 Provisions appeared first on EMPLOYEE BENEFITS BLOG. Provisions appeared first on EMPLOYEE BENEFITS BLOG. Act of 2022 (SECURE 2.0).

Retirement Plan 80

Retirement Plan Employee Benefits 401(k) 80

Proskauer's Employee Benefits & Executive Compensa

JANUARY 31, 2023

The Consolidated Appropriations Act of 2023 (“CAA 2023”), signed into law on December 29, introduced sweeping reforms to the employee benefits landscape. Not only do the CAA 2023’s “SECURE 2.0” Beginning in 2023, Medicare anticipated cutting its provider reimbursement rates by about 4.5%.

Deductible 98

Deductible Deductions Health Savings Account Retirement Plan 98

Best Money Moves

AUGUST 23, 2023

3 ways to maximize your financial wellness benefits. Financial wellness is a must-have employee benefit — learn how to maximize your financial wellness program. Today, almost 35% of companies have financial wellness offerings for their employees, up from 25% in 2020, according to the Employee Benefit Research Institute (EBRI).

Retirement Plan 98

Retirement Plan Finance Taxes Employment 98

Vantage Circle

SEPTEMBER 11, 2023

Imagine a world where managing employee benefits is no longer a daunting task but an empowering experience for HR teams and employees. With an innovative employee benefits platform, that world becomes a reality. Importance of Having an Employee Benefits Platform in Place 1. Let's delve in.

Employee Benefits 52

Employee Benefits Payroll Retirement Plan Software 52

Best Money Moves

DECEMBER 9, 2024

Employees who feel their benefits are suited to their situation are more likely to stick with their company. As technology improves, personalized benefits will be able to cater to a persons exact struggles and new opportunities are considered every year. These benefits trends will continue going into 2025.

roth 401(k) 52

roth 401(k) 401(k) Benefits Package Paid Leave 52

Flimp Communications

NOVEMBER 8, 2024

Over half of employers (54%) now offer financial wellness tools ; an additional 30% plan to offer financial wellness tools. According to the Employee Benefit Research Institute, 85% of companies said financial wellness programs “had either a large impact or a small impact on employees’ mental, emotional and social wellbeing.”

Education 52

Education Finance Retirement Plan Banking 52

HR Digest

AUGUST 28, 2023

With the ability to make both employee and employer contributions, the Solo 401k allows you to save and invest more compared to traditional retirement plans. So, let’s get started and see if a solo 401k is the golden ticket to a secure retirement. The early withdrawal penalty for both types of plans is 10%.

401(k) 98

401(k) Retirement Plan Taxes Consulting 98

HR Professionals Magazine

JANUARY 25, 2023

Vaughn, FSA, MAAA, EA McGriff Retirement Practice Leader The post Borrowing Considerations to Fund Retirement Plan Liabilities appeared first on HRProfessionalsMagazine. It can lead to lower cash flow commitments for the near future, a balance-sheet-neutral transaction, and improved earnings.

Retirement Plan 52

Retirement Plan Pension Finance Engineering 52

Employee Benefits

JANUARY 4, 2024

Introduction: Intuit’s goal is simple, to improve wellbeing for the diverse Intuit employee population and to deliver an integrated financial wellbeing communication strategy that draws on different themes each month, and always ties back to financial education. Each theme is integrated with a financial wellbeing benefit eg.

Finance 98

Finance Health Retirement Plan Education 98

Proskauer's Employee Benefits & Executive Compensa

JANUARY 30, 2023

hardship withdrawals from a 403(b) plan could only be funded from the employee’s elective deferrals exclusive of earnings. 403(b) plan sponsors looking to implement this change should consider amending their plans to permit hardship distributions from all available sources. Before SECURE 2.0, However, SECURE 2.0

401(k) 111

401(k) Taxes Retirement Plan Commissions 111

Proskauer's Employee Benefits & Executive Compensa

DECEMBER 15, 2023

Act of 2022 (“SECURE 2.0”) was signed into law on December 29, 2022 as part of the 2023 Consolidated Appropriations Act, and included a myriad of required and optional plan design changes for retirement plan sponsors and employers (described in more detail here ). Starter 401(k) Plans. technical corrections bill.

401(k) 98

401(k) Retirement Plan Education Finance 98

Proskauer's Employee Benefits & Executive Compensa

AUGUST 3, 2022

This extension is welcome for many plan administrators and sponsors who are still waiting for final IRS guidance on many of the SECURE Act’s provisions, including required post-death distribution rules, rules governing the inclusion of long-term part-time employees, and more.

Retirement Plan 105

Retirement Plan Government IT 105