Employee Benefits

JANUARY 22, 2024

Pensions and Future Planning Contrary to stereotypes, Gen Z actually places significant importance on pension benefits for future planning. In our report, pension needs ranked closely behind work-life balance in terms of importance, with an average score of 7.52. out of 10 in the findings from our exclusive report.

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Proskauer's Employee Benefits & Executive Compensa

AUGUST 20, 2021

This episode of The Proskauer Benefits Brief is the second of our three-part series analyzing the Pension Benefit Guaranty Corporation (PBGC) guidance on the new special financial assistance program for troubled multiemployer pension plans that was created by the American Rescue Plan Act (ARPA).

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Money Talk

MAY 4, 2023

Today, I presented a general session program for financial educators and researchers at an online professional conference. More Attention to Asset Decumulation - Baby boomers were “guinea pigs” for voluntary self-directed retirement savings accounts and the decline of pensions.

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Education Finance Pension Taxes 245

Money Talk

MARCH 15, 2023

They are often bought with money from settlements, investment accounts, and pension plan lump sum distributions. Reasons to Purchase - The attorney presenter noted the following reasons to consider an annuity as part of overall estate and financial plans: 1. Generally, variable annuities have the highest fees. Medicaid planning, 2.

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Money Talk

APRIL 11, 2024

I recently attended a Financial Planning Association (FPA) webinar about traditional and Roth IRAs presented by Ed Slott , a nationally recognized expert on IRAs and frequent presenter at conferences for financial advisors. money that has been taxed) and can be withdrawn at any time for any reason tax-free and penalty-free.

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401(k) Taxes Retirement Plan Pension 185

Employee Benefits

FEBRUARY 20, 2023

Need to know: There are plenty of benefits to getting employees engaged with their pensions investments, but employers should to be clear about what behaviour they want to encourage. Employers do not have to have much say in how employees’ pension savings are invested. So, should pensions education be one of them?

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Money Talk

AUGUST 31, 2023

Below are seven key take-aways that I gleaned from the presentation and accompanying materials: Income Gap - This is the difference between an individual’s (or couple’s) total retirement income from various sources (e.g., Baby Boomers were “guinea pigs” for the use of 401(k)s, often as a substitute for defined benefit pensions.

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Employee Benefits

JANUARY 18, 2022

But there is another lifestage that presents different financial challenges. Then, when they’re ready, they want to understand how to turn their pension savings into an income for life. A good pension scheme is a tangible measure of a company’s commitment to their workforce, but employees may still feel ill-prepared for retirement.

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Pension Pension Benefit Finance Salary 141

Employee Benefits

AUGUST 31, 2023

Nathan Mallows, director of finance, people and change at Coastline Housing, will present a session about the living pension on the final day of Employee Benefits Live 2023. Titled Living pensions: are your pension arrangements fair and equitable? the session will take place on Wednesday 4 October at 1.45pm.

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Pension Employee Benefits Finance Education 69

Proskauer's Employee Benefits & Executive Compensa

JULY 11, 2022

On July 8, 2022, the Pension Benefit Guaranty Corporation (“PBGC”) published its much anticipated final rule on the special financial assistance (“SFA”) available to certain troubled multiemployer plans under the American Rescue Plan Act of 2021 (“ARPA”). These and other key changes made by the PBGC in the final rule are summarized below.

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Proskauer's Employee Benefits & Executive Compensa

JANUARY 27, 2023

13, 2023), the court granted a motion to dismiss a pension plan participant’s claim that the plan was equitably estopped from recouping overpaid plan benefits. Upon termination of his employment, the participant requested and received from the plan a disclosure estimating that his pension would be $6,225.24 App’x 588 (6th Cir.

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Pension Pension Benefit Employment 111

Employee Benefits

NOVEMBER 8, 2022

Prime Minister Rishi Sunak has appointed Laura Trott MBE as minister for pensions, after predecessor Alex Burghart officially held the role for less than one month. Trott was appointed on 27 October, and the Department for Work and Pensions (DWP) made the announcement on 7 November via its official Twitter account.

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Employee Benefits

AUGUST 19, 2024

The government’s pensions reform agenda could reshape the rewards and benefits landscape, presenting both opportunities and challenges for employers. The newly announced pensions review presents an opportunity to improve pension adequacy. Addressing the needs of under-pensioned groups is essential.

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Workers' Compensation

MARCH 8, 2022

concluded that employers must pay complete workers’ compensation benefits, and the state pension system should be permitted to take an offset in benefits than it pays out. Division of Workers’ Compensation [D.W.C.] for injured employees was inconsistent with law and public policy. Cost-Shifting The D.W.C. e)-(x) (No change.)

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Money Talk

MAY 9, 2024

I recently reviewed notes that I took at recent presentations about retirement. pensions, annuities, dividends and interest, and required minimum distributions), Preservation (not running out of money during your lifetime), and Transfer (passing on assets when you pass away).

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Retirement Plan Pension Finance Employment 182

Employee Benefits

JUNE 18, 2024

Hundreds of Morrisons’ warehouse and logistics employees based in Cheshire and Yorkshire have accepted new terms related to their pensions, pay and working conditions , from 1 July. They stood strong and have won an important workplace victory including improved pay and conditions as well as protecting their pension contributions.

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Ahmed's Universe

MARCH 10, 2010

Of course, both Merkel and Sarkozy professed they wouldn''t let Greece down but at the same time the Germans have ruled out any bailout and sensibly so: why should a Teutonic taxpayer subsidize a Greek''s pension or holidays?

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Employee Benefits

APRIL 17, 2024

Pension salary sacrifice schemes are not a new concept, but one that all employers should consider, especially at a time where the tax burden on both employers and employees is high. In turn, many employers can share their NIC savings, either in full or in part with employees in the form of additional pension contributions.

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Global People Strategist

MARCH 2, 2020

Reforms to Ireland State Pension Pushed Back to 2021. Throughout 2020, the Minister for Employment Affairs and Social Protection of Ireland has stated that the highly anticipated reform to Ireland’s State Pension has been pushed back to not begin until 2021.

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Proskauer's Employee Benefits & Executive Compensa

OCTOBER 17, 2022

A hotly debated (and litigated) issue for multiemployer pension plans in recent years has been the appropriate interest rate to determine a multiemployer pension plan’s liabilities when calculating the plan’s underfunding for withdrawal liability purposes. This story starts back in 1980.

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Employee Benefits

SEPTEMBER 20, 2023

Yet, many businesses might be inadvertently losing money because they lack a competitive pension package. Therefore a business with a team of 100 could pocket savings of up to £65,000 annually with a strategic pension plan. By presenting a more enticing pension proposal, firms can foster greater employee loyalty.

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Employee Benefits

FEBRUARY 16, 2022

Women need to be aware of the impact of career breaks and part-time working on their pensions, and how they may be able to mitigate the impact. Here are some practical tips for employers on how they can reduce the gender pensions gap. Perhaps decisive policy action is needed to address the pension gender divide.

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Employee Benefits

FEBRUARY 12, 2024

Passionate about financial wellbeing , global recruitment firm Hays provides employees with back-to-basics roadshows and webinars to explain pensions terminology in a more straightforward way in order to combat the gender pensions gap. This is to highlight the impact of the gender pensions gap and work to avoid it.

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Employee Benefits

APRIL 10, 2023

Pensions are not usually at the forefront of the minds of young employees, yet early engagement with the subject could make accruing sufficient retirement funds much more likely. Digital marketing firm Flaunt Digital provides pensions education and information for its 30-strong workforce whose average age is 30.

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Retirement Plan Pension Taxes Education 52

Employee Benefits

FEBRUARY 17, 2023

Therefore, people’s pension savings will likely start catching up with the frozen Allowance. This could particularly affect those who never check the value of their pension or haven’t done so for some time. Positive pension fund growth as well as a pay rise may easily push them over the LTA before they know it.

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Pension Taxes Pension Benefit Salary 104

Employee Benefits

SEPTEMBER 18, 2023

Workplace pensions, as traditionally perceived, leave much to be desired. The team at Penfold believes that the current workplace pensions system isn’t just a challenge for employees, but also for employers. Moreover, HR departments, instead of focusing on pivotal HR tasks, find themselves swamped with pension-related queries.

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HR Digest

SEPTEMBER 24, 2024

We presented a best and final offer that made significant improvements and addressed feedback from the union and our employees,” they said at the end of the discussions. IAM Union District 751 They do not believe they have enough time to present the details to all their members and arrange for the vote to arrive at a consensus on the offer.

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Employee Benefits

SEPTEMBER 6, 2023

For employers, determining the contributions to a workplace pension scheme depends on the pensionable earnings of their employees. This article will explain the different methods for calculating pensionable earnings and how these methods affect pension contributions and tax efficiency. Employee contribution (inc.

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Employee Benefits

SEPTEMBER 2, 2024

It found that 46% of them were touting benefits such as annual leave, statutory sick pay and pensions. A pension was present in 124,600 job adverts, while 20 days’ holiday was mentioned in just over 2,000. The employee benefits platform looked at employers’ recruitment advertising on the largest job listing sites.

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Employee Benefits

JULY 31, 2023

But your organisation might be doing just that because the set-up of your workplace pension scheme has kept you blissfully unaware. Pension contributions by employers are great in principle, fostering stability and long-term economic wellbeing for employees. After all, your workplace pension is your most costly perk.

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Employee Benefits

JULY 11, 2023

Workplace Pension A substantial pension plan with generous employer contributions represents one of the most valuable employee perks, ensuring a secure future in an employee’s retirement years. Selecting the best pension provider is essential to maximise the benefits for employees.

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Employee Benefits

AUGUST 18, 2023

between 11 – 17 August were: Tesco Ireland enhances staff health and wellbeing benefits 30% of staff prefer CDC pension for decumulation over an annuity or drawdown ScotRail staff accept improved pay deal Exclusive: A fifth of employees worry about money every day Median monthly pay up 7.8%

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Employee Benefits

JULY 17, 2023

To many, it represents something akin to: “A state of being where present and future financial commitments can be met without feeling uncertain about what lies ahead.” It allows your team to exchange part of their income for another useful, non-cash benefit, such as gym membership, a bicycle, a company car or even their pension.

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HR Digest

FEBRUARY 20, 2020

Retirement plans for a person are valuable benefits that impact both the present as well as future lives of the employees. Some of the reasons are: Around 75% of the employees expect their employees to provide better retirement benefit pension plans. The pension plans for employees are either qualified or non-qualified kinds.

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Workplace Insight

JULY 10, 2024

The findings from this project will be presented to the government in the summer of 2025. Energy Secretary Ed Miliband has discussed the four-day week in a podcast and book, while Work and Pensions Secretary Liz Kendall has shown interest in flexible working.

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Employee Benefits

FEBRUARY 6, 2023

This year’s awards comprise 23 categories, including pensions, mental health, motivational benefits and financial wellbeing. EXCLUSIVE: Employers which have offered effective benefits packages to support employees with hybrid working are, for the first time, in with a chance of winning an accolade at the Employee Benefits Awards 2023.

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Employee Benefits

JANUARY 17, 2023

It is important that employees understand the importance of saving into their pension from early on. For example, they may not realise that someone in their 20s can increase their pension pot by 25% in retirement by saving an extra 1% a year with an employer match. Don’t neglect your pension. Beware of scams.

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