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Study: Retirement Plan Fees’ Decline Slowed in 2017

HR Daily Advisor

Retirement plan recordkeeping, trust, and custody fees—in a steep decline for years under pressure from sponsors, participants, federal regulations, and litigation—remained flat for the first time since 2010, according to a new survey. He also said a “significant number” of vendor searches now in progress at plans have not yet been captured.

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Laws And Regulations Every HR Professional Should Know In 2023

Empuls

Staying up-to-date with these changes is imperative for two principal reasons: ensuring legal compliance and fostering a work environment that is safe, respectful, and conducive to productivity. Non-compliance can result in significant fines and also tarnish a company's reputation.

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How HR Can Tackle Diversity Using the Rooney Rule

Visier

The Rooney Rule requires “ at least one woman and one underrepresented minority [to] be considered in the slate of candidates for either every open position or every open senior position (the details vary from company to company).”. As baby boomers head into retirement, companies will face a huge shortage of skilled workers to replace them.

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Plan Sponsors Must Now Analyze 401(k) Plan Administration (Part 1)

HR Daily Advisor

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. The deadline for adopting these amendments may not be until December 31, 2019, or later and some plans may not require amendments at all.

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Multiemployer Pension Plan Funding Nears Peak Since 2008 Crash, Study Says

HR Daily Advisor

Multiemployer retirement plans’ funding in the first half of 2017 neared its best position since the market collapse of 2008, according to a new study by the actuarial consulting firm Milliman. The interim update by Milliman compared changes in estimated funding levels at U.S. Gap Continues to Widen.

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Study: Defined Benefit Plans Funded Ratio Increased Moderately in 2017

HR Daily Advisor

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 2016 to an estimated $1.43

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IRS Delay in Implementing New Mortality Tables Affects Pension Liability Valuation

HR Daily Advisor

At the same time, the reality of increased longevity and longer-term retirements may lead some employees to work beyond a pension plan’s “normal retirement age,” offsetting somewhat the increased liabilities brought about by the latest mortality assumptions.