McDermott Will & Emery Employee Benefits

DECEMBER 14, 2022

Retirement plan sponsors need to utilize updated Form W-4P (for periodic pension and annuity payments) and new Form W-4R (for nonperiodic payments and eligible rollover distributions) for income tax withholding elections beginning January 1, 2023.

Retirement Plan 98

Retirement Plan Taxes Pension Utilities 98

Proskauer's Employee Benefits & Executive Compensa

JUNE 6, 2022

Or at the very least, predict the timing of a retirement plan audit? Last Friday, the IRS Employee Plans division announced a new pilot program whereby it will notify retirement plan sponsors 90 days in advance that their plan has been selected for upcoming examination.

Retirement Plan 110

Retirement Plan Taxes IT 110

WEX Inc.

JUNE 13, 2023

And baby boomers are actually the highest percentage of retirement-account holders among any group segmented in a 2021 survey by the U.S. This lack of retirement planning by large segments of employees is leading to more stress for them and less productivity at work. First, offer retirement plans.

Retirement Plan 98

Retirement Plan 401(k) IT Healthcare 98

International Foundation of Employee Benefit Plans

MAY 29, 2024

Fiduciaries have many responsibilities that stem from the duties of care, loyalty and prudence, including ensuring the correct benefits are paid to the correct participants and beneficiaries of the plan. Benefits Magazine authors Lisa L. Kaiser, CEBS, and Carey R.

Retirement Plan 90

Retirement Plan Employee Benefits 90

International Foundation of Employee Benefit Plans

JULY 9, 2024

So far in 2024, the Department of Labor (DOL) has released proposals for plan administrators to populate a missing participant database and automatic portability of retirement plan accruals when employees change jobs.

Retirement Plan 85

Retirement Plan 401(k) Employee Benefits 85

Proskauer's Employee Benefits & Executive Compensa

NOVEMBER 3, 2023

On November 1st, the IRS released a number of inflation adjustments for 2024, including to certain limits for qualified retirement plans. The table below provides an overview of the key adjustments for qualified retirement plans. As expected, this year’s adjustments are more modest than last year’s significant increases.

Retirement Plan 101

Retirement Plan Employee Compensation Taxes 401(k) 101

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

International Foundation of Employee Benefit Plans

JUNE 24, 2024

According to recent data from Horizon Actuarial Services, LLC and the International Foundation of Employee Benefit Plans, the fifteen-year period between 2006 and 2020 was turbulent for multiemployer defined benefit (DB) pension plans.

Retirement Plan 74

Retirement Plan Pension Employee Benefits 74

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

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

HR Professionals Magazine

MAY 24, 2022

The guidance asks fiduciaries of retirement plans to remember their main responsibility: act solely in the financial interests of plan participants and adhere to an exacting standard of professional care. The post Rolling the Dice on Crypto in Retirement Plan appeared first on HRProfessionalsMagazine.

Retirement Plan 98

Retirement Plan 401(k) Banking Education 98

International Foundation of Employee Benefit Plans

MAY 23, 2023

On February 27, 2023, the Internal Revenue Service (IRS) issued a proposed rule to clarify the use of forfeitures in qualified defined contribution (DC) and defined benefit (DB) retirement plans.

Retirement Plan 81

Retirement Plan Employee Benefits 81

HR Lineup

OCTOBER 21, 2024

Employee benefits management has become increasingly complex in recent years, with professionals needing to navigate health plans, retirement packages, wellness programs, and various compliance regulations. Below are the top 10 employee benefits certifications for professionals in 2024.

401(k) 68

401(k) Employee Benefits Retirement Plan Health Savings Account 68

Best Money Moves

DECEMBER 7, 2021

Financial Wellness: The must-have employee benefit in 2022. If you aren’t incorporating financial wellness into your 2022 benefits strategy, your employees are missing out. The COVID-19 pandemic has had a long-lasting impact on your employees’ financial health. But not all of your employees are financially stable.

Employee Benefits 122

Employee Benefits Retirement Plan Finance Benefits Package 122

International Foundation of Employee Benefit Plans

MAY 25, 2023

The Treasury Department and the Internal Revenue Service (IRS) temporarily allowed, in light of COVID-19 pandemic restrictions, electronic alternatives to physical presence requirements for retirement plan participants’ elections that required spousal consent.

Retirement Plan 89

Retirement Plan Electronics Employee Benefits 89

WEX Inc.

OCTOBER 2, 2024

If you’ve never been asked if you would like to participate in an employee benefits account before, you might be asking yourself, “What are all these acronyms?” Click here for the first blog post in our series on choosing a health plan for the first time. Assess your ability to cover the deductible before choosing this plan.

Employee Benefits 98

Employee Benefits Flexible Spending Account Health Savings Account Life Insurance 98

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 91

Health and Welfare Employee Benefits Retirement Plan 401(k) 91

HR Digest

MAY 21, 2023

A strong employee benefit package can go a long way. Employer benefits package is key to attracting and retaining top talent. Employee benefits have become an essential part of any competitive compensation package. What do you want to achieve with the employee benefit package 2. Payroll taxes 2.

Benefits Package 105

Benefits Package 401(k) Employee Benefits Disability Insurance 105

International Foundation of Employee Benefit Plans

JANUARY 17, 2024

Department of […] The post How the DOL’s Proposed Fiduciary Rule Would Affect Retirement Plans appeared first on Word on Benefits. Fiduciary investment advice rules have had a long history filled with ups, downs and mixed support. On October 31, 2023, the U.S.

Retirement Plan 73

Retirement Plan Employee Benefits 73

Employee Benefits

JUNE 3, 2024

This was accompanied by a concerted communications drive, designed to improve understanding of pensions among its employees, boost appreciation of the enhanced employer contribution and ensure staff were fully engaged in their own retirement planning.

Retirement Plan 63

Retirement Plan Pension Manufacturing Consulting 63

Best Money Moves

NOVEMBER 1, 2023

3 ways to improve your employee benefits communication. Use these 3 strategies to improve your employee benefits communication and help your team make the most of your benefits offerings. Even the most robust employee benefits programs can fall flat without clear communication.

Employee Benefits 105

Employee Benefits Benefits Package Retirement Plan Life Insurance 105

CorpStrat

JULY 20, 2022

A thorough employee benefit review is critical for every company, but particularly those that are considering entering and preparing for any M&A activity. Here’s a quick hit list of issues that should be reviewed and addressed: Have you benchmarked your Employee Benefits package against companies of similar size in your industry?

Employee Benefits 98

Employee Benefits Benefits Package Executive Compensation PTO 98

Employee Benefit News

APRIL 24, 2024

Treating student loan payments as eligible for a 401(k) match will help young employees save for retirement while staying on top of their debt.

401(k) 103

401(k) Retirement Plan Employee Benefits 103

Money Talk

APRIL 6, 2023

At the 2022 Retirement Summit sponsored by the Employee Benefit Research Institute (EBRI), there were four main topics: improving individuals’ access to retirement savings plans, reducing plan leakage (i.e., An example: CalSavers in California. Speakers suggested three types of “nudges” (i.e.,

401(k) 245

401(k) Retirement Plan Finance Government 245

Employee Benefit News

MAY 18, 2023

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Retirement Plan 87

Retirement Plan Employee Benefits 87

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

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

Employee Benefits

FEBRUARY 26, 2024

Almost half (49%) of working adults have changed their retirement plans because of the cost-of-living crisis , according to new research by the Pensions Management Institute. The professional body that supports and develops UK pension schemes surveyed 2,030 employees with pensions.

Retirement Plan 59

Retirement Plan Pension Pension Benefit Government 59

HR Digest

FEBRUARY 13, 2022

To provide financial support, many employers think about 401K retirement plans a nd student loans. These employee benefits would increase the happiness at work and it would produce a better performance of the current employees. . The Great Resignation is a difficult situation nowadays.

401(k) 116

401(k) Retirement Plan Pension Work From Home 116

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

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 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

Insperity

NOVEMBER 26, 2024

If you want your business to attract top talent in today’s job market and retain employees for the long term, one of the most powerful tools at your company’s disposal is competitive employee benefits. Let’s explore what employees expect so that you can stand out from your industry peers and recruit and keep the best.

Employee Benefits 68

Employee Benefits Family and Medical Leave Act PTO Flexible Spending Account 68

Employee Benefit News

APRIL 24, 2024

Treating student loan payments as eligible for a 401(k) match will help young employees save for retirement while staying on top of their debt.

401(k) 84

401(k) Retirement Plan Employee Benefits 84