McDermott Will & Emery Employee Benefits

SEPTEMBER 21, 2022

The post Save It for a Rainy Day: Recent Amendment Extensions for Qualified Retirement Plans, 403(b) Plans and Individual Retirement Accounts appeared first on EMPLOYEE BENEFITS BLOG.

Retirement Plan 98

Retirement Plan IT Employee Benefits Executive Compensation 98

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

McDermott Will & Emery Employee Benefits

NOVEMBER 1, 2023

The Social Security Administration […] The post IRS Announces 2024 Employee Benefit Plan Limits appeared first on EMPLOYEE BENEFITS BLOG. Most of the dollar limits that are subject to adjustment for cost-of-living increases will increase for 2024.

Health and Welfare 105

Health and Welfare Employee Benefits Flexible Spending Account Health Savings Account 105

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

McDermott Will & Emery Employee Benefits

APRIL 9, 2024

Provisions of the […] The post Webinar Replay: New Employee Benefits Requirements for Part-Time Employees, Independent Contractors appeared first on EMPLOYEE BENEFITS BLOG.

Employee Benefits 105

Employee Benefits 401(k) Employment Management 105

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

McDermott Will & Emery Employee Benefits

NOVEMBER 1, 2023

The Internal Revenue Service (IRS) recently opened a new determination letter approval program for 403(b) retirement plans—commonly used by nonprofit organizations—which allows sponsors of certain individually designed plans to apply for a favorable determination letter.

401(k) 101

401(k) Retirement Plan Employee Benefits 101

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

McDermott Will & Emery Employee Benefits

JANUARY 3, 2024

Beginning in 2024, employers and plan sponsors will need to implement new minimum eligibility rules, enacted by the SECURE and SECURE 2.0 Acts, that significantly expand eligibility for long-term, part-time employees to participate in employer-sponsored retirement plans.

Retirement Plan 105

Retirement Plan Employee Benefits Employment 401(k) 105

McDermott Will & Emery Employee Benefits

OCTOBER 11, 2023

Act codifying an opportunity for employers to provide matching contributions within a tax-qualified retirement plan based on their employees’ qualified student loan payments outside the plan. student loan benefit and other employer options for […] The post Employer Student Loan Debt Benefits Following SECURE 2.0

Retirement Plan 104

Retirement Plan Employment Taxes Employee Benefits 104

McDermott Will & Emery Employee Benefits

DECEMBER 20, 2023

The Internal Revenue Service (IRS) recently issued new guidance clarifying key aspects of the broadened retirement plan eligibility rule for long-term, part-time employees under the SECURE 2.0

401(k) 102

401(k) Retirement Plan Employee Benefits Employment 102

McDermott Will & Emery Employee Benefits

APRIL 14, 2022

As the popularity of cryptocurrency continues to grow, what do employee benefits lawyers need to know about these emerging investment options? The post Cryptocurrency for Employee Benefits Lawyers: What You Need to Know appeared first on EMPLOYEE BENEFITS BLOG.

Employee Benefits 98

Employee Benefits 401(k) Retirement Plan Commissions 98

McDermott Will & Emery Employee Benefits

FEBRUARY 3, 2022

The post Cryptocurrency for Employee Benefits Lawyers: What You Need to Know appeared first on EMPLOYEE BENEFITS BLOG.

Employee Benefits 98

Employee Benefits 401(k) Employment Mining 98

McDermott Will & Emery Employee Benefits

JUNE 30, 2023

Retirement plans often apply (and in some cases are required to use) multiple definitions of wages or compensation for various plan purposes. Given this complexity, failures to follow a plan’s definition of compensation are one of the most common issues experienced by retirement plan sponsors.

Retirement Plan 94

Retirement Plan Employment Employee Benefits 94

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

Insperity

OCTOBER 1, 2024

Therefore, a major priority of your human resources (HR) function is to: Learn how to enhance employee wellness Commit to employee wellbeing for the long term, as part of your workplace culture Whether your HR team accomplishes this speaks to how well your company does HR. This impacts the vast majority of employees.

Employee Wellness 80

Employee Wellness 401(k) PTO Retirement Plan 80

McDermott Will & Emery Employee Benefits

MAY 19, 2022

Fiduciaries of 403(b), 401(a) and 457(b) retirement plans have come under increased scrutiny in recent years, in part due to participant lawsuits filed against plan sponsors and the resulting media attention.

Retirement Plan 98

Retirement Plan Consulting Media Employee Benefits 98

McDermott Will & Emery Employee Benefits

OCTOBER 12, 2022

On September 26, 2022, the Internal Revenue Service (IRS) extended the amendment deadline for non-governmental qualified retirement plans, plans covered under Section 403(b) of the Internal Revenue Code (Code) and individual retirement accounts (IRAs).

Retirement Plan 98

Retirement Plan IT Employee Benefits Executive Compensation 98

McDermott Will & Emery Employee Benefits

JULY 6, 2023

The Internal Revenue Service’s (IRS) Employee Plans Compliance Resolution System (EPCRS) allows employers to correct errors involving the maintenance and operation of tax-qualified retirement plans. Act and the Future of the Employee Plans Compliance Resolution System appeared first on EMPLOYEE BENEFITS BLOG.

Retirement Plan 98

Retirement Plan Taxes Employee Benefits Employment 98

McDermott Will & Emery Employee Benefits

AUGUST 15, 2023

Nearly all employers offer eligible participants the opportunity to make additional catch-up contributions to their retirement plans. Act makes so-called “super-catch-up contributions” available to certain employees. s Catch-Up Contributions, Age Is More Than Just a Number appeared first on EMPLOYEE BENEFITS BLOG.

Retirement Plan 96

Retirement Plan Employee Benefits Employment 96

WEX Inc.

DECEMBER 12, 2024

AI allows HR teams to analyze employee data and deliver personalized recommendations that align with individual preferences and needs. Improved communication: AI-powered chatbots and virtual assistants can guide employees through benefits enrollment , answer questions 24/7, and provide real-time assistance during decision-making moments.

Health Savings Account 52

Health Savings Account Benefits Package Retirement Plan Taxes 52

Qandle

JANUARY 29, 2025

In this blog, well explore how payroll software can help organizations eliminate compliance risks, streamline payroll processes, and provide peace of mind for HR professionals and business owners. Compliance risk in payroll refers to the potential for errors, omissions, or violations of laws and regulations that govern employee compensation.

Payroll Software 90

Payroll Software Software Payroll Overtime 90

COMPackage

NOVEMBER 1, 2024

TCRs address this by detailing all aspects of an employee’s compensation package, including: Base Salary: The core component, clearly outlining the annual or hourly wage. Customization is Crucial: Consider the specific needs of different employee segments.

Retirement Plan 40

Retirement Plan Health Insurance Bonuses Salary 40

WEX Inc.

JANUARY 8, 2025

For most of you, a new plan year has begun! And just because you have an entire plan year ahead doesnt mean you should wait until November or December to put time and energy into your employee benefits. Or watch our Benefits podcast to learn how employers can support employees while starting off the benefits plan year!

Flexible Spending Account 52

Flexible Spending Account 401(k) Health Savings Account Banking 52

McDermott Will & Emery Employee Benefits

APRIL 4, 2024

which was passed in December 2022, includes more than 90 provisions affecting US retirement plans, many of which are specifically aimed at enhancing savings opportunities […] The post A Q&A and More Delay: IRS Begins to Issue Clarifying Guidance on SECURE 2.0 Provisions appeared first on EMPLOYEE BENEFITS BLOG.

Retirement Plan 80

Retirement Plan Employee Benefits 401(k) 80

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. Traditional Health Plan Calculator today! It is not legal or tax advice.

Deductible 52

Deductible Deductions Health Savings Account Flexible Spending Account 52

Insperity

OCTOBER 10, 2023

In requiring employers to take actions that can improve their employees’ financial wellness, the SECURE 2.0 Act of 2022 says The implications of this law’s passage for your business How small and midsize businesses and their employees can both benefit Overview of the SECURE 2.0 employer-sponsored 401(k) plans.

401(k) 113

401(k) Retirement Plan Taxes Benefits Package 113

WEX Inc.

MAY 29, 2024

Supporting employees throughout their lifecycle is essential for improving engagement, loyalty, and long-term satisfaction in the workplace. By optimizing employee benefits and creating a supportive environment, employers can enhance the employee experience at every stage of their journey, from onboarding to retirement.

Retirement Plan 98

Retirement Plan Taxes Health Insurance Recruitment 98

Pacific Prime

JULY 19, 2023

Small Businesses should include health insurance, a retirement plan, and paid time off in their employee benefits package. Employers should also be aware of the employee benefits that they must include, as required by law, such as workers’ compensation and unemployment insurance.

Employee Benefits 52

Employee Benefits Retirement Plan Workers’ Compensation Health Insurance 52

Qandle

FEBRUARY 16, 2025

Enterprise Compensation Management (ECM) refers to the strategies and tools that organizations use to design, manage, and administer compensation and benefits for their employees. It encompasses all forms of monetary rewards, such as salaries, bonuses, commissions, and benefits like health insurance, retirement plans , and perks.

Management 52

Management Equity Compensation Bonuses Salary 52

Pacific Prime

MARCH 9, 2023

Student loan benefits for baby boomers? Retirement planning for gen Z’ers? The post The Complete Guide to Flexible Benefits appeared first on Pacific Prime's Blog. Parental leave for the millennial that’s decided never to have kids? These are the dilemmas that many employers are now facing.

Parental Leave 98

Parental Leave Retirement Plan Employment Health Insurance 98

Proskauer's Employee Benefits & Executive Compensa

JANUARY 11, 2023

includes significant changes for retirement plan sponsors and employers, as discussed in our prior blog posts. If you are looking for a short summary organized by effective date, we have prepared a “pocket guide” chart, which can be downloaded here.

Retirement Plan 94

Retirement Plan 401(k) Employment 94

Qandle

JULY 10, 2024

They manage HR tasks such as payroll, employee benefits administration, workers’ compensation, and compliance with employment laws and regulations. PEOs typically manage payroll, employee benefits, HR compliance, and other HR functions, allowing client companies to concentrate on their core competencies.

Professional Employer Organization 105

Professional Employer Organization Employment Benefits Package Payroll 105

McDermott Will & Emery Employee Benefits

JUNE 20, 2024

A nonqualified deferred compensation (NQDC) plan is a powerful employee benefits tool. However, NQDC plans can create complications for plan administrators and participants. The post NQDC Complications and Best Practices appeared first on EMPLOYEE BENEFITS BLOG. Access the article.

Employee Benefits 105

Employee Benefits Retirement Plan 401(k) 105

COMPackage

MARCH 28, 2024

There’s a big chance that some employees will not spend their own money for an ergonomic office chair or an adjustable-height desk, so it’s incumbent on your company to ensure your employees have access to these perks for free. These benefits are also great for cultivating loyalty among current employees.

Employee Benefits 52

Employee Benefits Retirement Plan Medical Hospitality 52

McDermott Will & Emery Employee Benefits

APRIL 11, 2024

Our first webinar covered the legal, tax and administrative considerations a family […] The post Family Office Tax Webinar Replay: Compensation Strategies appeared first on EMPLOYEE BENEFITS BLOG.

Taxes 105

Taxes Employee Benefits Executive Compensation Retirement Plan 105

WEX Inc.

FEBRUARY 23, 2023

For most of you, a new plan year has begun! And just because you have an entire plan year ahead doesn’t mean you should wait until November or December to put time and energy into your employee benefits. Having your employee benefits anytime you need them isn’t just comforting. It’s an expectation.

Flexible Spending Account 98

Flexible Spending Account 401(k) Health Savings Account Banking 98