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Building a Positive Culture: Lessons from the Seattle Art Museum

Everwise

SAM opened a new 155,000-square-foot downtown facility in 1991 and then significantly expanded that building in 2007. SAM’s core values are not shelved away in the employee handbook and forgotten, but are embodied and articulated by those who work there. The museum began in 1933 in Volunteer Park with a focus on Asian art.

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3 reasons to get a short-term disability policy

Workable

A quarter of all working Americans now in their 20s will suffer a period of short-term disability before they retire. By having an employer short-term disability policy a part of your overall company policy handbook can make all the difference if and when something does go wrong. Still not sure it’s worth your while as an employer?

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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. By comparison, the per-participant flat-rate premium for single-employer plans was $31 in 2007; for multiemployer plans it was $8 that year. Pension Benefit Guaranty Corp.

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

HR Daily Advisor

Here’s a brief rundown of permitted cafeteria plan benefits, both tax-exempt and taxable, courtesy of the Employer’s Handbook: Complying with IRS Employee Benefits Rules. Permitted Plan Benefits. This prohibition on benefits that defer the receipt of compensation is a long-standing requirement of Section 125.

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

HR Daily Advisor

The fourth exception is found in the 2007 proposed cafeteria plan regulations. Recall also that the 2007 proposed cafeteria plan regulations contain a list of operational failures that can jeopardize the tax-favored status of all pretax benefits for all participants. He is a contributing editor of BLR’s Flex Plan Handbook.

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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. So what should be in this document?