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Via your 401(k) plan record-keeper In 2021, a federal trial court ruled that employees’ personal information—their names, contact information, Social Security numbers, financial information, investment history, investments, account balances, etc. You can ask your 401(k) record keeper, health plan, payroll provider , etc.
Cyber criminals that hack these platforms can tap into a gold mine of sensitive information about employees and their dependents, including: Social Security numbers. 401(k) and other retirement accounts. Do not assume that the payroll and benefit system you are using has safeguards in place to prevent these types of attacks.
A very tech savvy good friend of mine still uses WordPerfect and Eudora as an e-mail client despite for 15 years not getting the benefits of meeting invitations automatically entered into an integrated Word calendar. There are no useful generalities on this point. Every HR department has to decide for itself.
This doesn't mean they broke the law, but they lose the moral and ethical credibility they had accumulated by using a technique that the rest of the 403(b) industry uses, but most 401(k) plans did away with long ago. A client of mine was also taken advantage of by it several years back, though I did not learn of it until recently.
No, really, please use the 401k: how to drive engagement in retirement plans. Yours is bigger, but mine is better: how to succeed with a small team. Yours, Mine, Ours: how to integrate after a merger or acquisition. Get outta here: how to prepare your employees to retire. You want what?!? The role of influence in HR.
For example, a Baby Boomer on the precipice of retirement may be driven more by money: Salary increases, 401(k) contributions or bonuses. Your team can leverage these skills for mining data to uncover user preferences and gain insight into customers. Implement cross-generational training.
As cryptocurrencies gain popularity, employers are considering how they can be used as part of compensation arrangements and benefit plans to attract and retain talent.
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