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What You Should Know About Leadership Development Training

Workplace Psychology

The Society for Human Resource Management (SHRM) defines leadership development as “formal and informal training and professional development programs designed to assist employees in developing leadership skills” (SHRM, 2020). It has to be a part of an organization’s DNA and corporate culture and mindset.

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An Introduction to Cafeteria Plans: Permitted Tax-Exempt and Taxable Benefits

HR Daily Advisor

By definition, cafeteria plans allow employees to choose between cash and a variety of employer-provided benefits without having to include the value of their chosen benefits as taxable income. Cafeteria plans are popular because they allow employees to design individualized benefits programs that suit their own special needs.

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Back to the Future: Making Sense of the Election Timing Rules for Cafeteria Plans

HR Daily Advisor

This sometimes comes as a surprise to employees as well as some well-meaning HR and benefits professionals. Cafeteria plans allow employees to pay for qualified benefits on a pretax basis. Employee E marries F during the plan year. The prospective election requirement only applies to pretax benefits through a cafeteria plan.

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Is Your Cafeteria Plan Document Full of Plot Holes?

HR Daily Advisor

Unlike summer blockbuster movies with a large cast of key characters, benefit plan documentation has just three: the plan document under the Employee Retirement Income Security Act (ERISA), the summary plan description (SPD), and the Internal Revenue Code Section 125 cafeteria plan document. Role of Each Document.

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IRS 2016 Required Amendments List Gives First Guidance on Changes Needed to Retain Qualification

HR Daily Advisor

The Internal Revenue Service (IRS), in its first “Required Amendments (RA) List” on December 13, 2016, informed individually designed employer-sponsored retirement plans about required amendments for 2016 that may be needed to reflect changes and ensure the plans keep their qualified status. 642-A in The 401(k) Handbook.)

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PBGC Makes Scheduled Premium Increase for 2019, Raises Guarantee Limits 3.5% for New Year

HR Daily Advisor

(PBGC) on October 19 announced that its premiums for single-employer defined benefit (DB) retirement plans will increase to $80 in 2019, from $74 in 2018. This is the last of the scheduled annual flat per-participant increases in single-employer DB plan premiums brought about by the Bipartisan Budget Act (BBA) of 2015.

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How to Buy Employee Time Clocks For Small Business in 2020: The All-Encompassing Guide

SwipeClock

For the most part, attendees were HR managers or accountants for brick-and-mortar retail stores in shopping plazas and malls across the United States. Retail stores and restaurants don’t have this problem as much as construction companies, hotels, and other location-based hospitality businesses such as event management and planning.