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Common & Costly Employer Sponsored Retirement Plan Mistakes

GoCGO

Mistakes in employee benefits and human resources can be quite costly to employers in the form of extra benefits, complaints, lawsuits, government-assessed fines and penalties, and attorney fees, to name a few. Don’t learn the hard way what these mistakes are.

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7 things to know about HSA compliance

WEX Inc.

Health saving accounts (HSAs) offer an excellent opportunity for participants to save money on healthcare expenses and for employers to support their employees’ wellness needs in a cost-efficient way. First, employees need to be covered by an HSA-eligible health plan, otherwise known as a high-deductible health plan (HDHP).

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10 Things to Motivate Your Employees

6Q

Employer-sponsored retirement plans: Every worker in the world wants to save for retirement, except that economic hardships usually get in the way. Take that weight off your employees’ shoulders by establishing different retirement plans that employees in different ranks can afford. That builds trust.

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5 Common Open Enrollment Mistakes to Avoid

Extensis

Quick Look: While all months are critical for businesses, the autumn months of September, October, and November are especially important for many employers and their employees. This is the annual period when benefits open enrollment (OE) occurs and employees can change their benefits, research options, and pick the plan that’s right for them.

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401(k) Recordkeeper: What They Do And What To Look For

ForUsAll

We know HR helps to keep company-sponsored 401(k)s running smoothly, but there’s also a lot you should know about what’s happening “behind the scenes…”. In this blog, we’ll take a deep dive into recordkeepers in the 401(k) industry, what they do, whether you need one, and what kinds of fees they charge. Help with plan design.

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What is 401k Discrimination Testing?

Zenefits

Every year, the Employee Retirement Income Security Act ( ERISA ) requires employers to undergo 401k discrimination testing to ensure plans are not discriminating against lower-income employees. They’re also used to make sure the benefits plan isn’t designed to favor HCEs. What is a 401k discrimination testing?

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New HR Job? Here’s a 90 Day Plan To Master Your Role

ForUsAll

HR professionals often take on numerous duties relating to the company retirement plan. For example, HR may be charged with: Updating 401(k) plan documents to reflect amendments or new regulations. Tracking which employees are eligible to join the plan and when employees are vested. Evaluating and handling loans.