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5 Legal HR Mistakes Which Can Prove Very Costly

Crimcheck | Pre-Employment & Background Check Information

Human resources can sometimes seem like a legal minefield. Therefore, every HR needs to strive to stop running afoul of the legal provisions. The first step is to understand what legal mistakes are commonly made by HRs. The first step is to understand what legal mistakes are commonly made by HRs.

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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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How Technology helps in Making HR a Strategic Partner

Empxtrack

Changing Role of HR. Long gone are the days when HR used to merely manage administrative tasks and play a supporting role in the business. Over the past few years, HR has transformed itself into a most valuable asset to the organization. Figure ( Source ): Should an HR Leader have a place on the Board of Directors?

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Vestwell Q&A: What Every HR Pro Should Know About 401(K)s

Namely

As HR pros, not only are you concerned with making sure employee paychecks hit, you’re also thinking ahead. Not only are the behavioral challenges of encouraging employees to contribute, but 401(k)s come with a number of headaches, from fees to plan administration to compliance requirements.

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IRS Again Extends Closed DB Plan Nondiscrimination Relief

HR Daily Advisor

The Internal Revenue Service (IRS) has extended for an additional year the temporary nondiscrimination relief it offers closed defined benefit (DB) retirement plans. Notice 2018-69 , issued on August 24, provides relief extension to plans with plan years beginning before 2020 that meet the requirements set in original 2014 guidance.

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Reenrollment into Plan Defaults Can Improve Portfolio Diversification, Study Finds

HR Daily Advisor

Most defined contribution retirement plan participants who are reenrolled in a plan’s default fund remain in that investment a year later, with only a few partially opting out, a recent Vanguard case study of reenrollment found. Over time, investment defaults remain ‘sticky,’” a report on the Vanguard case study said.

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Special Report from CareerBuilder—Changes in Workforce Composition, 2001–2014

HR Daily Advisor

(EMSI), CareerBuilder’s labor market analysis arm that pulls from more than 90 government and private sector resources. Some of the key findings have been highlighted below. In 2014, 49% of jobs were held by women, compared to 48% in 2001. HR budget cuts? There were only 86 such occupations in 2014.

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