The IRS recently issued revenue ruling 2019-19. The revenue ruling provides 401(k) plan administrators with helpful guidance on how to report and withhold from 401(k) plan distributions when a plan participant actually receives the distribution but for some reason, does not cash the check. Unfortunately, this new guidance does not provide answers to the complex issues […]
January 2020 renewals are beginning to arrive, and with the Affordable Care Act’s premium tax to new prescription drug coupon regulations on the horizon, here are eight items for operators to consider. The triumphant return of the Affordable Care Act premium tax (the health insurer provider fee). This tax of about 4% is under Congressional […]
Some of the biggest changes to healthcare design at this moment are encompassed by final rules recently published by the current administration around health reimbursement accounts. There are three new forms of HRAs for employers to understand and evaluate: qualified small employer HRAs (QSEHRAs), individual coverage HRAs (ICHRAs) and excepted benefit HRAs (EBHRAs). Two of […]
American workers are in bad retirement shape. The gap between what employees need to save for retirement and what they are actually saving is widening, according to a report from the World Economic Forum. Throughout my career as a CFP and plan adviser, I’ve seen firsthand how easy it is to miss big on making the […]
With low unemployment and workers willing to take a job across the street for a mere $.25 increase in their hourly wage, employers need innovative ways to increase employee engagement and retention. At the same time, the new workforce, comprised largely of millennials and Gen Z, is looking for greater control, flexibility and transparency in […]
When the Department of Labor issued its final rule to expand access group retirement plans, it moved a step closer to what for many in the benefits industry is the ultimate dream: unfettered access to multiple employer plans. On Monday, the DOL announced it will relax the regulations governing which employers can band together to […]
Like a significant chunk of American voters, a majority of large employers want to expand Medicare. Just not too much. A new survey of 147 large employers from the National Business Group on Health found that 55% of them support a Medicare expansion that’s limited to older Americans. Only 23% think eligibility should drop to age 50, however, […]
Research shows that benefits drive the attraction and retention of employees even more than compensation. When implemented the correct way, these perks can help draw diverse groups of workers. So if this is the case, why are so many packages not tailored to diversified workforces? The short answer is because it’s easier to administer a […]
Too many new managers don’t receive adequate leadership training. In fact, a Gallup poll found only 40% of managers in the U.S. feel their developmental needs are being met. Many feel uncomfortable giving and receiving feedback, so they avoid having these necessary conversations. Today’s workers expect more frequent feedback from their leaders. There are now five […]
While the U.S. is enjoying one of the longest economic booms in history, economists warn it won’t last forever. Employers need to have a game plan in place if they want to protect their reputation as a great place to work when the next recession hits, said Andrew Chamberlain, chief economist at Glassdoor. “Many economists […]
