McDermott Will & Emery Employee Benefits

JUNE 7, 2022

2022-01 cautions 401(k) plan fiduciaries to “exercise extreme care” before allowing participants to invest plan assets in cryptocurrencies because cryptocurrencies “present significant risks and challenges to participants’ retirement accounts, […]. appeared first on EMPLOYEE BENEFITS BLOG.

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Proskauer's Employee Benefits & Executive Compensa

AUGUST 10, 2021

s (“Omnicom’s”) motion to dismiss, for lack of Article III standing, claims challenging the offering of investment options in Omnicom’s 401(k) plan in which the plaintiff participants did not invest. A federal district court in New York recently granted Omnicom Group Inc.’s The case is In re Omnicom ERISA Litig., 20-cv-4141 (S.D.N.Y.

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Insperity

OCTOBER 10, 2023

At its most basic level, the law encourages people to not only save money for retirement , but to save more and also become financially stable in the present. employer-sponsored 401(k) plans. Starting in 2024, employees’ annual contribution limits to some SIMPLE 401(k)s or IRAs will rise. The SECURE 2.0

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401(k) Retirement Plan Taxes Benefits Package 113

Griffin Benefits

DECEMBER 30, 2021

Thousands of companies turned to JP Griffin Group for guidance on employee benefits topics in 2021. 2022 IRS Contribution Limits for HSA, HDHP, FSA, 401(k). Vendor Contracts – Beware of These Five Pitfalls in Employee Benefits Agreements. 8 Ways Employers and Employees Can Save On Prescription Medications.

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401(k) Employee Benefits Healthcare Media 82

Proskauer's Employee Benefits & Executive Compensa

MAY 4, 2023

A third district court has dismissed with prejudice a complaint alleging that defendants breached their fiduciary duties under ERISA by offering 401(k) plan participants the option to invest in BlackRock LifePath Index Target Date Funds (the “Funds”). Microsoft , Case No. 22-cv-1082 (W.D.

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McDermott Will & Emery Employee Benefits

APRIL 12, 2022

However, the IRS’s efforts to streamline the required minimum distribution (RMD) requirements for Internal Revenue Code (IRC) Section 403(b) plans with Section 401(a) qualified plans, […]. The post Proposed IRS RMD Regulations Present Challenges, Risks for 403(b) Plans appeared first on EMPLOYEE BENEFITS BLOG.

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Employee Benefits 401(k) Retirement Plan Employment 98

Proskauer's Employee Benefits & Executive Compensa

JULY 6, 2022

In April, we wrote here about the discouraging trend of opinions allowing commonly asserted breach of fiduciary duty claims in 401(k) and 403(b) plan investment litigation to survive motions to dismiss. Northwestern University , 142 S. 737 (2022), and two district courts dismissed similar claims. The Sixth Circuit’s Decision.

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401(k) Retirement Plan Management IT 98

Proskauer's Employee Benefits & Executive Compensa

JANUARY 14, 2022

as saying that PE – as a component of a designated investment alternative – is generally appropriate for a typical 401(k) plan.”. as saying that PE – as a component of a designated investment alternative – is generally appropriate for a typical 401(k) plan.”. So how did we get here, and what does this mean?

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Proskauer's Employee Benefits & Executive Compensa

SEPTEMBER 21, 2023

A recent Ninth Circuit decision has generated considerable controversy amongst employee benefits practitioners by holding that plan fiduciaries engaged in prohibited transactions when they amended the plan’s existing recordkeeping contract to add brokerage and investment advisory services. The case is Bugielski v. 4th 894 (9th Cir.

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HR Lineup

JANUARY 24, 2024

Proof of Investment (POI) submission is a crucial aspect of managing employee benefits and financial transactions within an organization. Employers often require their employees to submit POI for a variety of reasons, including compliance with regulatory requirements, facilitating tax reporting, and managing employee benefit programs.

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401(k) Retirement Plan Taxes Education 130

Proskauer's Employee Benefits & Executive Compensa

AUGUST 18, 2023

The courts in both cases addressed various allegations that the fiduciaries had breached their duties by failing to prudently manage their respective 401(k) plans. LEXIS 130614 (M.D.N.C. July 28, 2023). The England court dismissed plaintiffs’ claims that recordkeeping costs were too high while the McDonald court upheld them.

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Hppy

NOVEMBER 26, 2024

To attract these committed individuals, a comprehensive benefits package is essential, and retirement plans play a crucial role in achieving this goal. 401(k) for private companies or 403(b) for non-profit organizations allow employees to allocate a portion of their pre-tax earnings to retirement savings.

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Best Money Moves

MAY 23, 2018

In the Best Money Moves Roundup, we run down the latest news on employee benefits, retirement and workplace legislation. The Society for Human Resource Management’s annual survey tracks trends in employee benefits. Here are our top 3 takeaways from SHRM’s 2017 report: Wellness benefits work.

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401(k) Employee Benefits Media Human Resources 51

Insperity

DECEMBER 29, 2020

Today’s candidates are interested in salary range and traditional benefits like a 401(k) and health insurance. To appeal to these applicants, start your job posting with a brief statement of the reasons why someone would want to work for you (beyond your list of traditional employee benefits).

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WEX Inc.

JUNE 20, 2017

Like medical insurance and a 401(k), basic wellness benefits are expected by your prospective employees. Learn how to structure a new plan or reform your existing pr ogram to optimize employee engagement and regulatory compliance.

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401(k) Medical Insurance Employee Benefits 56

Insperity

JANUARY 2, 2020

Currently 401(k) plans are the most popular, and as the employer, you’re the plan fiduciary, which means you’re responsible for the whole plan. While 401(k) plans are the most common instrument, they might not be the right fit for you. Does the provider have expertise with the type of plan you’re looking for?

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Proskauer's Employee Benefits & Executive Compensa

NOVEMBER 22, 2021

Department of Labor’s Employee Benefits Security Administration (the “DOL”) published in the Federal Register a new proposed regulation (the “Proposed Rules”) [1] on fiduciary responsibility in selecting ERISA plan investments and exercising shareholder rights (proxy voting). On October 14, 2021, the U.S. Background.

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Griffin Benefits

FEBRUARY 23, 2023

At present, 19.86% of American adults, equivalent to nearly 50 million people , are experiencing a mental illness of some sort. Financial wellness now plays an essential role in ensuring what we like to call a Quality Employee Experience or QEX for short. Our Employee Benefits Strategists here at HUB International are ready to help.

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401(k) Medical Taxes Construction 81

Benefit Resource Inc.

APRIL 8, 2021

Here’s a scary statistic for you: according to the International Foundation of Employee Benefit Plans , 80% of employers struggle to get employees to read benefits enrollment materials during Open Enrollment. Can you really blame the employees though? A 401(k) to save money for retirement.

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Vantage Circle

AUGUST 23, 2018

Not to forget that many employees apply for organizations depending on the perks and benefits offered by that company. Business Dictionary defines Employee Benefits as the. Indirect and non-cash compensation paid to an employee. These are benefits given over and above salaries and wages. Retirement Plans.

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Employee Benefits Parental Leave Paid Sick Leave Benefits Package 63

Vantage Circle

JULY 5, 2019

Employees are worried about their money and roughly half are stressed about their finances and have said that their retirement plans will not be enough to support them after retirement. Consider the 401K plan, which is also a financial benefit existing way before than other benefits that organizations opt for.

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401(k) Retirement Plan Finance Education 90

McDermott Will & Emery Employee Benefits

MAY 24, 2022

Earlier this spring, McDermott Partner Erin Turley delivered a presentation about the impacts of recent Employee Retirement Income Security Act of 1974 (ERISA) litigation. appeared first on EMPLOYEE BENEFITS BLOG. The post ERISA Litigation: What Have We Learned?

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Snell & Wilmer Benefits

AUGUST 28, 2023

requirement that certain catch-up contributions to 401(k) and similar defined contribution plans be made on an after-tax Roth basis. As we noted in a previous Employee Benefits Blog post Ready for Roth Contributions? More specifically, SECURE 2.0 More specifically, SECURE 2.0 This SECURE 2.0 Roth catch-up rule.

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Vantage Circle

NOVEMBER 23, 2023

These programs, focusing on engagement and accessibility, provide a powerful incentive for employees, demonstrating that their organization cares about their financial well-being and quality of life. How to Offer : Two companies, Corporate Offers and Vantage Circle , offer competitive and efficient discount programs to their employees.

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Proskauer's Employee Benefits & Executive Compensa

APRIL 3, 2023

They also focus on certain aspects of this insurance product as it relates to executive compensation and employee benefits matters. Listen to the podcast David Teigman: Hello and welcome to The Proskauer Benefits Brief: Legal Insight on Employee Benefits and Executive Compensation. Welcome to you both.

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Executive Compensation Insurance Employee Benefits 401(k) 52

The Teacher's Advocate

FEBRUARY 8, 2021

One This January, the Wall Street Journal ran a story on insurance companies that require proprietary product sales from their agents to maintain employee benefits like retirement and health insurance. Can we expect that Equitable employees will now be offered multiple 401(k) vendor options going forward?

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401(k) Health Insurance Insurance Education 52

Griffin Benefits

OCTOBER 29, 2021

Employers continue to migrate to digital employee benefits communications, most especially during this Q4 open enrollment season. No matter the cause, employers who embrace digital communications as part of an omnichannel employee benefits marketing campaign instantly recognize the benefits of these advanced marketing solutions. ?

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HR Digest

APRIL 1, 2022

HR outsourcing can be very beneficial for both employees and employers because it gives one sort of freedom and function that cannot be compared to the regular HR operation. There are many benefits of outsourcing and we present them below. You can calculate how many hours the employees have worked and how much money they earned.

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Vantage Circle

AUGUST 23, 2018

Not to forget that many employees apply for organizations depending on the perks and benefits offered by that company. Business Dictionary defines Employee Benefits as the. Indirect and non-cash compensation paid to an employee. These are benefits given over and above salaries and wages. Health Insurance.

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Employee Benefits Parental Leave Paid Sick Leave Benefits Package 45

PeopleStrategy

NOVEMBER 3, 2017

High engagement is critical to increasing employees’ use of the benefits plans and packages your company offers. A survey conducted by the International Foundation of Employee Benefits Plans found that 80 percent of companies find that their employees do not open or read open enrollment materials.

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Benefit Resource Inc.

APRIL 4, 2024

As an employer or HR manager, you’re constantly seeking ways to enhance your employee benefits package, ensuring it not only attracts top talent but also supports their financial well-being throughout their careers and into retirement. One often-overlooked gem in the world of benefits is the Health Savings Account (HSA).

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Business Management Daily

MARCH 23, 2023

The Consumer Financial Protection Bureau, along with state banking authorities and/or states’ attorneys general— Arizona being the latest state—have concluded that, based on the facts presented by vendors, on-demand pay isn’t a commercial loan. Depending on the bank, employees can access their pay immediately. And there’s the rub.

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Construction Payroll 401(k) Banking 52

CorpStrat

MARCH 2, 2022

2022 has presented employers with a unique set of challenges. With healthcare costs rising due to inflation, employees opting for unconventional careers post-COVID, and the Great Resignation hanging over their heads, employers need to work harder than ever to attract, retain, and reward their team.

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Empuls

JUNE 21, 2024

The research also revealed that up to 77% of workers with access to employer-sponsored benefits, chose to participate in the program, increasing the take-up rate. However, 71% of those working professionals under 40 do not know what happens to their benefits once they change jobs or leave before retirement.

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Business Management Daily

JUNE 30, 2021

They also give management a point of reference when handling leave requests, disciplinary action, accommodation requests, and other employee relations matters. The employee handbook should give an overview of your company culture, employee benefits and perks, and your company’s policies. Employee benefits.

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Business Management Daily

SEPTEMBER 15, 2021

Offering an attractive employee benefits package helps lure top talent and encourages the retention of your best team members. Presenting a good employee benefits package often gives one employer an edge over another, especially in cases where basic salaries are relatively equal.

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Bayzat

AUGUST 30, 2023

Past and present employee reviews show that Chalhoub Group is quite the environment for healthy career development. There is a remarkable team spirit among staff and commendable salary remuneration and special benefits that are regularly adjusted according to inflation.

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