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.

Retirement Plan 97

Retirement Plan Pension Employee Benefits IT 97

Employee Benefits

APRIL 18, 2024

Public trust in the pensions industry has increased for the fourth consecutive year, according to research by third-party pensions administrator Trafalgar House. The results found that trust in the pensions industry rose to 5.26 out of 10 in 2023, up from 4.95 in 2022, 4.63 in 2021 and 4.46 and ‘a lot’ climbing 0.9%.

Pension 69

Pension Retirement Plan Employee Benefits IT 69

International Foundation of Employee Benefit Plans

JANUARY 13, 2023

Plan sponsors and administrators are encouraged to reference these comprehensive calendars to stay on track in 2023. Health and Retirement Plans Subject to ERISA (Includes Multiemployer Plans) Health and Welfare.

Health and Welfare 87

Health and Welfare Employee Benefits Retirement Plan 401(k) 87

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. Increase from 2022 to 2023.

Retirement Plan 52

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

Employee Benefits

AUGUST 21, 2024

Credit: Dilok Klaisataporn/Shutterstock Need to know: Significant amounts of money are tied up in small pension pots, many of which may have been forgotten. The Pensions Tracing Service can help people reconnect with lost pensions. Employers can help staff with this process and engage with pensions more generally.

Pension 64

Pension Retirement Plan Education Consulting 64

Best Money Moves

MARCH 11, 2024

Mercer’s 2023 Health and Benefits Strategies report shows that many employees are looking for benefits packages that include parental leave, adoption leave and elder caregiver leave. A retirement plan allows employees to build a financial safety net as they work, saving money over their careers.

Retirement Plan 105

Retirement Plan Healthcare Healthcare Benefits Parental Leave 105

Employee Benefits

AUGUST 21, 2024

When Ben Thomas joined Newcastle Building Society as head of reward in 2023, one of his first priorities was to benchmark how the organisation performed against competitors. Central to this was its pension scheme. “We In June 2024, it also became an accredited Living Pension employer, working closely with the Living Wage Foundation.

Pension 59

Pension Retirement Plan Insurance Recruitment 59

Employee Benefits

NOVEMBER 22, 2023

Chancellor of the Exchequer Jeremy Hunt has announced plans to offer a pension pot for life in the Autumn Statement 2023. This will give employees a legal right to require a new employer to pay pension contributions into their existing pot, avoiding the accumulation of multiple pension pots throughout their working life.

Pension 64

Pension Government Retirement Plan Consulting 64

Employee Benefits

JANUARY 25, 2023

The benefits on offer at Wave: Pension A master trust pension scheme for all employees. Age limits are 16 to state pension age. Health cash plan and surgery choices plan: employer paid for all non-leadership team employees, and those who receive PMI due to their Tupe status. Age limits are 16 to state pension age.

Pension 105

Pension Bonuses Voluntary Benefits Retail 105

HR Professionals Magazine

JANUARY 25, 2023

Vaughn Pension sponsors often deal with fluctuating annual contributions and a funded status that never seems to improve. A troubling reality since a well-funded plan and predictable plan contributions would obviously be ideal. By Eddie L.

Retirement Plan 52

Retirement Plan Pension Finance Engineering 52

Employee Benefits

JANUARY 15, 2024

found in its November 2023 research that work-life balance is important to 36% of older workers, while 55% said it has become more so as they aged. Aimed at employees aged 45-65 years old, it offers a health, wealth and career progression check ahead of their retirement. Job and community site Workingwise.co.uk

Pension 111

Pension Retirement Plan Benefits Package Benefit Providers 111

Employee Benefits

AUGUST 9, 2023

The rising cost of living is creating more financial stress for female employees than their male counterparts, according to July 2023 research from financial wellbeing platform Mintago, with 48% of females and 31% of males saying they are either very or somewhat stressed.

Pension 98

Pension Retirement Plan Education Benefit Providers 98

HR Professionals Magazine

FEBRUARY 3, 2024

By Chuck Stinson The McGriff Retirement Benefit Survey, a follow-up to our 2023 National Benefit Trend Survey, provides a comprehensive view of retirement plan trends across a diverse landscape of industries and company sizes. The responses to the defined benefit plan portion of the survey further supports these views.

Retirement Plan 52

Retirement Plan 401(k) Pension Benefits Package 52

Employee Benefits

DECEMBER 5, 2023

Employers are viewing the ageing workforce as increasingly important, according to the new Financial Wellbeing Research 2023 [1] from the Reward & Employee Benefits Association (REBA) in association with WEALTH at work. It also revealed that 17% cite age 55+ employees accessing their pension early as a driver, up from 11% previously.

Pension 52

Pension Retirement Plan Education Employee Benefits 52

Empuls

JUNE 21, 2024

  A thoughtfully crafted retirement plan can positively impact employee morale.      Increase the productivity of employees nearing retirement.    A handsomely distributed retirement plan increases job satisfaction. Let's quantify the significance of retirement rewards. 

401(k) 40

401(k) Retirement Plan Pension roth 401(k) 40

Employee Benefits

DECEMBER 20, 2023

The current economic environment is causing disruption to the retirement plans of many. It is important that those retiring in 2024 understand their options, make informed decisions, and avoid making mistakes with their hard-earned savings. Track down all pensions There are 2.8

Pension 52

Pension Taxes Retirement Plan Education 52

Employee Benefits

NOVEMBER 2, 2023

Research[1] by WEALTH at work found that 83% of employees are concerned that the cost of-living crisis will mean they will have to work longer before retiring and 33% think they won’t ever be able to afford to retire at all. Understanding what their state pension will be and when they will receive it is also crucial.

Pension 52

Pension Education Retirement Plan Salary 52

Employee Benefits

FEBRUARY 6, 2023

Let’s explore… Pension schemes Do we still want it? Whatever the sector you work in, it will be unsurprising to read that pension schemes are still the most frequently found benefit in the UK workplace. But is there any way day-to-day pension schemes could be even more valuable? And we wouldn’t have it any other way.

Pension 52

Pension Retirement Plan Work From Home Finance 52

Employee Benefits

JANUARY 4, 2023

It’s then a good idea for employees to work out the value of all of their savings and investments including pensions. Also, as announced in the Autumn Statement, the pensions ‘triple lock’ has been re-instated, meaning that the State Pension will now rise in April 2023 by 10.1%. Can they afford to retire?

Pension 52

Pension Taxes Finance Retirement Plan 52

Proskauer's Employee Benefits & Executive Compensa

JANUARY 31, 2023

Act of 2022 (“ SECURE 2.0 ”) that was signed into law on December 29, 2022 as part of the 2023 Consolidated Appropriations Act includes a slew of changes for retirement plan sponsors and employers. also does not change PBGC’s indexed flat-rate premiums for both single-employer pension plans and multiemployer pension plans.

Pension 40

Pension Executive Compensation Retirement Plan Employment 40

Vantage Circle

MAY 18, 2023

Retirement Plans: Retirement savings are viewed as the most essential benefit by 77% of working Americans. Retirement schemes aim to facilitate the process of employees accumulating funds for their future years after they exit from active work. Recommended Resource: The Ultimate Guide To Employee Development In 2023 4.

Family and Medical Leave Act 94

Family and Medical Leave Act Life Insurance Health Insurance Retirement Plan 94

Proskauer's Employee Benefits & Executive Compensa

AUGUST 14, 2023

ERISA Section 4010 requires a contributing sponsor of certain single-employer pension plans, as well as the sponsor’s controlled group members, to provide controlled group, financial, and actuarial information to the PBGC each year.

Employment 52

Employment Pension Pension Benefit Retirement Plan 52

Higginbotham

APRIL 11, 2022

proposals include: Expanding automatic enrollment in 401(k) and 403(b) retirement plans (for plan years beginning after Dec. 31, 2023); Increasing the age for required minimum distributions (the SECURE Act increased this to age 72, while SECURE 2.0 1, 2023, to age 74 on Jan. 1, 2023, to age 74 on Jan.

401(k) 52

401(k) Taxes Retirement Plan Pension 52

Proskauer's Employee Benefits & Executive Compensa

JUNE 15, 2023

The IRS recently issued Notice 2023-43 providing new interim guidance for self-correction of plan errors. This guidance applies to corrections made prior to the anticipated issuance of revisions to the Employee Plans Compliance Resolution System (“ EPCRS ”). The SECURE 2.0 update to the EPCRS. of the SECURE 2.0

401(k) 84

401(k) Taxes Retirement Plan Employment 84

Hppy

SEPTEMBER 6, 2024

This encompasses both work-related benefits such as understanding how to maximize employer contributions into their 401(k)s or choosing the right investment options when it comes to their pension plans as well as learning how to manage their personal finances in more efficient and effective ways.

401(k) 41

401(k) Finance Financial Counseling Retirement Plan 41

Employee Benefits

SEPTEMBER 27, 2023

The Reward & Employee Benefits Association (REBA) in association with WEALTH at work has launched the second in its series of workplace research – Financial Wellbeing Research 2023*, with responses from almost 200 companies representing over 1.5 million employees.

Pension 52

Pension Finance Education Retirement Plan 52

Empuls

SEPTEMBER 25, 2023

New requirements for health and retirement benefits Health and retirement benefits are an integral part of employee compensation, and they are subject to their own sets of laws and regulations. Some jurisdictions now require certain types of preventative care to be included in employer-sponsored plans.

Family and Medical Leave Act 40

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

Business Management Daily

MAY 9, 2024

That’s especially true whenever new changes come about, and 2023 was a year rife with new payroll regulations, trends, and initiatives. It provides provisions aimed at improving employee retirement outcomes and makes starting 401(k) plans more attractive and beneficial for employers – even those with 50 or fewer employees.

Payroll 52

Payroll 401(k) Taxes Retirement Plan 52

Proskauer's Employee Benefits & Executive Compensa

DECEMBER 2, 2022

Generally, an initial determination is permitted only for plans that have not received a determination as an individually designed plan, and sponsors may apply on a rolling basis based on their employer identification number (“EIN”). This announcement is a significant and welcome development for 403(b) plan sponsors.

Taxes 84

Taxes Employment Retirement Plan Pension 84

Empuls

AUGUST 27, 2024

A Glassdoor 2023 survey found that, based on the sentiment of over 1,100 U.S. Retirement plans Basically, it is the retirement plans—401(k) or pension plans—through which an employee receives financial security during service years other than while serving.

Family and Medical Leave Act 40

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

Proskauer's Employee Benefits & Executive Compensa

NOVEMBER 27, 2023

The new “retirement security rule” package, issued by the U.S. The Proposed Rule would specifically cover a recommendation to roll over an account from an employer-sponsored plan ( e.g. , a 401(k) plan) into an individual retirement account (an “IRA”). IRA rollover advice specifically covered.

401(k) 52

401(k) Retirement Plan Retail Education 52

Empuls

APRIL 28, 2023

From healthcare and retirement plans to flexible work arrangements and professional development opportunities, employees are looking for a comprehensive benefits package that meets their unique needs and preferences. Providing a comprehensive benefits package is essential for keeping employees happy, healthy, and motivated.

Family and Medical Leave Act 40

Family and Medical Leave Act Employee Benefits Parental Leave Benefits Package 40

Empuls

MAY 7, 2023

Employee benefits statistics to support why they are so important in 2023 Employee benefits are important for several reasons: They can help companies attract and retain top talent. Retirement benefits Retirement benefits include pensions, 401(k)s, and other retirement savings plans.

Employee Benefits 40

Employee Benefits Parental Leave Health Insurance Benefit Providers 40

Business Management Daily

NOVEMBER 16, 2022

While individuals have until April 18, 2023, to file their personal income taxes, businesses have to start thinking about tax requirements a bit sooner. pension plan, insurance, vacation pay, etc.)? It is the end of the year, and that means that tax season is approaching. Type of Relationship.

Taxes 52

Taxes Payroll Insurance Software 52

Proskauer's Employee Benefits & Executive Compensa

DECEMBER 23, 2022

a long-awaited (and debated) package of retirement plan reforms. Act of 2022” as part of the 2023 Consolidated Appropriations Act; President Biden is expected to sign the bill into law soon. The wait is over for SECURE 2.0, Today, Congress passed the “SECURE 2.0 may be viewed here.

401(k) 108

401(k) Retirement Plan Taxes Finance 108

Griffin Benefits

APRIL 25, 2022

Historically speaking, retirees have typically relied on three primary tools to help them prepare for retirement: pension plans, Social Security, and defined contribution plans, like 401(k) plans. It’s widely anticipated that changes resulting from the passing of this bill will go into effect in 2023.

401(k) 97

401(k) Retirement Plan Employment Taxes 97

Vantage Circle

SEPTEMBER 23, 2023

In 2023, employee benefits are important for businesses. Welcome to “Employee Benefits Guide for 2023: What Employers Need to Know.” Meeting Legal And Ethical Obligations: Certain benefits, such as health insurance, retirement plans, and paid time off, may be required by law in many jurisdictions.

Family and Medical Leave Act 59

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