PeopleStrategy

NOVEMBER 7, 2017

Some health and life insurance plans and retirement plans require companies to report enrollment figures and balances at the end of the year. Support compliance with regulatory updates. This involves checking that your HR technology will continue to support compliance documentation and reporting under these changes.

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HR Daily Advisor

JULY 6, 2018

Automated features now standard for most employer-sponsored retirement plans helped bring about a record 8.3-percent percent average participant deferral rate in 2017—the highest level in a decade, according to a recent T. percent setting a 3-percent default, the firm said in its annual “Reference Point” report for 2017.

Retirement 40

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HR Daily Advisor

NOVEMBER 6, 2018

For 2019, the Internal Revenue Service (IRS) is raising most of the annual threshold and benefit levels that apply to retirement plans, the IRS announced on November 1. Employers and retirement plan administrators can apply the new rates as they prepare their plans for next year and conduct nondiscrimination testing. Retirement P lans.

Retirement 58

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ACA Times

JANUARY 29, 2020

The plaintiffs claim that this is in direct violation of Section 510 of The Employee Retirement Income Security Act of 1974 (ERISA), which prevents employers from intentionally taking actions that might abridge or impair an employee from collecting benefits. To learn how to respond to Letter 226J, click here.

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Guideline

JUNE 4, 2024

private sector workforce lacks access to an employer-sponsored retirement plan like a 401(k). To expand coverage, over 30 states are developing programs, and there are proposals at the federal level for a national retirement program. It’s not farfetched to imagine how a national retirement program could work.

Retirement 52

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HR Daily Advisor

NOVEMBER 2, 2017

Retirement plan compliance priorities for Fiscal Year 2018 released September 28 by the Internal Revenue Service (IRS) indicated the agency’s Employee Plans (EP) unit will emphasize analyzing plan failure trends, refine outreach, and other communications about noncompliance, and enhance its knowledge management program.

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HR Daily Advisor

APRIL 16, 2018

The Internal Revenue Service (IRS) said on April 5 that it may reopen its determination letter program to certain types of individually designed retirement plans, beyond the narrow set of circumstances in which such letters are currently available. Jane Meacham is the editor of BLR’s retirement plan compliance publications.

Retirement 43

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Visier

MAY 9, 2018

A shrinking pool of workers with advanced manufacturing skills, along with baby boomer retirements, is contributing to this major talent shortfall. According to Training magazine’s most recent Training Industry Report, “total 2017 U.S. training expenditures rose significantly, increasing 32.5 percent to $90.6 Step #3: Set goals.

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HR Morning

MAY 12, 2017

That’s a subject Kate Saracene, an employment attorney for Nixon Peabody LLP , covered during a recent presentation at the 2017 Mid-Sized Retirement & Healthcare Plan Management Conference in Phoenix, Arizona. Here are some of the highlights of that presentation. This is a mistake employers should be especially wary of.

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Ceridian

JUNE 8, 2017

We’re seeing momentum build around several areas of employment law, and during a recent webcast , I spoke about three: Paid Leave, Retirement Programs (“Auto-IRAs”) and fair scheduling. Sign up for the free webcast: Top Compliance Issues Every Employer Should Know. State Retirement (Auto-IRA). Paid Leave.

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HR Daily Advisor

SEPTEMBER 24, 2018

Retirement plans always have been an excellent vehicle for creating current tax deductions for businesses. For a business that passes through income to its owners, the business’s retirement plan often is designed to reduce each owner’s personal taxable income by a share of the retirement plan’s contributions.

Retirement 53

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ForUsAll

APRIL 1, 2019

You and your employees pay them a lot of money out of your retirement accounts, so you want to be sure your advisor is providing as much value as possible. In 2017 alone, almost 30,000 plan sponsors failed their NDTs and had to make corrective distributions. People spend about a quarter of their lives in retirement. Conclusion.

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HR Daily Advisor

NOVEMBER 22, 2016

The Internal Revenue Service (IRS) again left most annual threshold and benefit levels unchanged when it announced them for 2017 on October 27, 2016. Employers and retirement plan administrators can apply the new rates as they prepare their plans for next year and conduct nondiscrimination testing. Retirement Plans.

Retirement 40

Retirement Compensation Compliance Employee Benefits 40

HR Daily Advisor

NOVEMBER 21, 2017

The second half of 2017 brought devastating hurricanes to several areas of the Southern U.S. Congress provided for both retirement plan hardship distribution tax relief and more generous plan loan rules for participants whose primary residences were damaged in one of the storms’ paths. and Puerto Rico.

Retirement 43

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HR Daily Advisor

JANUARY 15, 2018

Strong market returns and larger-than-expected employer contributions shored up the funded status of the United States’ largest corporate pension plans modestly at the end of 2017, compared with the end of 2016, according to an analysis released January 2 by consulting firm Willis Towers Watson. trillion at the end of 2017. tax reform.

Study 43

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ACA Times

APRIL 17, 2020

Technical Correction to Qualified Improvement Property Deduction (CARES Act §2307): This provision makes a technical correction to the amount of an allowed Improvement Property deduction and makes it retroactive to the passage of the TCJA in 2017. Businesses can now fully deduct the cost of certain property improvements.

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Insperity

JUNE 27, 2019

But how knowledgeable are you about HR data privacy compliance and security? Think about every data point you regularly touch regarding employees (Social Security numbers, salaries, health care and retirement plans , background checks, etc.) What state and federal laws govern HR data privacy compliance?

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HR Daily Advisor

SEPTEMBER 25, 2018

In part 1 of this article we began to explore the effect that the Tax Cuts and Jobs Act of 2017 (TCJA) has on personal tax deduction for business owners. There are common ownership aggregation rules for RPEs that are similar to common ownership aggregation rules for retirement plans used to test for participant coverage and nondiscrimination.

Retirement 43

Retirement Handbook Payroll Report 43

HR Morning

MAY 30, 2017

But that mindset often leaves employers open to a slew of compliance issues. During a recent presentation , benefits attorney Kate Saracene outlined the many compliance obligations employers have with even the most simple wellness plans and the major issues she’s seen as a result. 9 federal laws, statutes.

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Effortless HR

JUNE 13, 2017

Tucson, AZ (June 13, 2017) – EffortlessHR™ has expanded its partnership with Enquiron ® to deliver the EffortlessHR Compliance Center, a custom-tailored employer solution with a focus on HR and employment law. EffortlessHR allows a client’s staff to manage HR information based on specific company needs.

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ForUsAll

MAY 8, 2019

Focused on the unique needs of the small business market, these 401(k) providers strive to make high-quality, low-cost retirement plans accessible to all – not just Fortune 500 companies. Ubiquity Retirement: Reviews, Media Endorsements, and More. So, the all-important question: who are the best 401(k) providers for small business?

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Ceridian

OCTOBER 24, 2016

Let’s be honest: regardless of age, we all sometimes dream about retirement. Unfortunately, for a lot of Americans who aren’t eligible for retirement savings plans through their employer, those dreams are difficult to make a reality. By Julie Palmer, Technical Writing Manager, Ceridian. DOL Final Rule and the ERISA.

Retirement 40

Retirement Ceridian Payroll HR Planning 40

Tandem HR

OCTOBER 23, 2017

The Internal Revenue Service released the 2018 annual contribution limits related to Flexible Spending Accounts (FSA), Health Savings Accounts (HSA) and all Qualified Retirement Plans. Qualified Retirement Plans. Medical reimbursement. Dependent care. 260 per month. 255 per month. 260 per month. 255 per month. Individual.

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HR Daily Advisor

MARCH 21, 2018

As of 2017, that likelihood dropped to 16% in the same group of employers, according to a new Willis Towers Watson (WTW) retrospective report on large DB plans. Employers have made the transition to account-based retirement plans in a variety of ways, WTW said in the report. DNY59 / E+ / Getty Images. Shift in Offerings. Key Findings.

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HR Daily Advisor

DECEMBER 27, 2016

Furthermore, the Medicare statutory rules allow employer-sponsored group health plans to reduce or terminate coverage if retired employees become entitled to Medicare. Active employee George retires. But the employer amends the plan to eliminate coverage for retired employees effective January 1, 2017. So what happens?

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HR Daily Advisor

JANUARY 15, 2018

The Internal Revenue Service (IRS) gave some larger-asset employer-sponsored retirement plans an unexpected break on Voluntary Correction Program (VCP) user fees in its first Internal Revenue Bulletin (IRB) of 2018, issued January 2. Jane Meacham is the editor of BLR’s retirement plan compliance publications.

Retirement 47

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HR Daily Advisor

SEPTEMBER 27, 2017

In this uncertain environment, a critical and bottom-line question for financial advisers and financial institutions serving employer-sponsored retirement plans is, “What do I do during the transition period”? The Impartial Conduct Standards are somewhat more vague and do not necessarily lend themselves to easy compliance checklists.

Retirement 46

Retirement Compliance Compensation Benchmarking 46

HR Daily Advisor

JANUARY 11, 2018

And similar to pretax retirement savings accounts, the money grows tax-free. But, unlike their retirement counterparts, the money saved in an HSA also comes out without tax consequences, as long as withdrawals are for qualified medical costs. Also similar to a 401(k) or similar retirement plan, HSA funds can be used in retirement.

Trends 49

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Paycor

OCTOBER 17, 2019

Industry experts like Jennifer McClure offered actionable insights and advice on all things HR, from self-care for the HR pro to in-the-news compliance issues. Maintaining compliance for the organization. W-4 Changes In 2020: What You Need to Know |Speakers: Paycor Compliance Team. Recruiting Compliance – EEOC.

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HR Daily Advisor

JUNE 4, 2018

When the Tax Cuts and Jobs Act (TCJA) was signed into law December 22, 2017, several proposed changes to the federal tax code that would have affected tax-qualified retirement plans were dropped. office, where he leads the Qualified Retirement Plans team. This article details three key areas that should be examined now.

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Retirement Handbook Compliance Compensation 61

Semos Cloud

JULY 31, 2020

According to statistics, 85% of all employees in US have received paid vacation days in 2017 , averaging with 10 days of payed time off. . Retirement plan . Retirement plan is a great employee perk to offer , especially since a lot of specialists you will be looking for are in their late 30ies and 40ies.

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HR Daily Advisor

MAY 31, 2018

However, the non-enforcement guidance in DOL Field Assistance Bulletin (FAB) 2018-02 issued May 7 left many retirement plan fiduciaries and practitioners more confused than ever as the agency’s years-in-the-making fiduciary rule was officially vacated the same day by a federal appellate court. On May 7, the 5th U.S.

Retirement 43

Retirement Compliance Policies Groups 43

Zenefits

DECEMBER 20, 2019

In a previous article about state-mandated retirement plans , we discussed America’s burgeoning retirement crisis, which is no exaggeration. As noted in an article published by the LA Times , “The retirement crisis is real and frightening.”. OregonSaves is one such program. What is OregonSaves?

Retirement 46

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HR Daily Advisor

APRIL 5, 2018

The Internal Revenue Service (IRS) is lowering back to 2017’s level the fee it charges for applications seeking determination letters for terminating retirement plans, the agency announced on March 14. Jane Meacham is the editor of BLR’s retirement plan compliance publications. In Revenue Procedure (Rev.

Retirement 40

Retirement Compliance Meeting 40

HR Daily Advisor

FEBRUARY 1, 2018

The latest edition of a widely watched consulting firm survey of defined contribution (DC) retirement plan trends found that plan sponsors continue to focus intensely on fees, even though these expenses have been pressured lower in recent years by plans’ insistence and the threat of litigation. NiroDesign / iStock / Getty Images Plus.

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HR Daily Advisor

OCTOBER 17, 2017

A retirement research institute suggested several ways to improve the Saver’s Credit for lower-income individuals in a recent paper , steps that also could help employer plan sponsors ensure that their plans remain in compliance with nondiscrimination requirements. Why It Was Created.

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Precheck

OCTOBER 2, 2017

Health Insurance and Retirement Benefits Remain Key to Attracting and Retaining Talent. A 2017 study from the Employee Benefit Research Institute (EBRI) found that companies that offer health and retirement benefits still have a competitive advantage over those that do not, when it comes to attracting the best talent.

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