HRWatchdog

DECEMBER 6, 2018

California employers that don’t already offer a workplace retirement savings vehicle will be required to either begin offering one via private market or provide their employees access to CalSavers, a state-run retirement savings plan, as early as June 2020. The employer makes no contribution into the retirement account.

Retirement 59

Retirement Payroll Compliance Policies 59

The Employer Handbook

OCTOBER 15, 2020

I’m going to be answering some of those hypothetical HR-compliance questions that you’ve been dying to ask on behalf of a friend. Yep, sure enough, in June 2016, the defendant hired a 35-year-old general manager at the facility at which the plaintiff worked. Aren’t you ready to retire?” The new sheriff in town.

Retirement 76

Retirement Wellness Discrimination ATS 76

HR Daily Advisor

SEPTEMBER 11, 2017

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. Jane Meacham is the editor of BLR’s retirement plan compliance publications.

Retirement 46

Retirement Planning Tools Study Survey 46

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.

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Retirement Compliance Resources Examples 43

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

FEBRUARY 15, 2017

Department of Labor (DOL)—including those centered on Employee Retirement Income Security Act (ERISA) violations—continued at an aggressive pace in 2016 but were less effective in terms of number of filings and recoveries when compared with previous years, according to annual report on workplace class action litigation.

Report 46

Report Retirement Trends Policies 46

HRExecutive

DECEMBER 18, 2014

Mercer has just released its annual “10 Steps DC Plan Sponsors Should Take” for the coming year, or things employers should do to ensure their defined-contribution plans are meeting the needs of plan participants while staying in compliance and taking advantage of recent innovations. Share on Facebook Twitter It!

Retirement 58

Retirement Analysis Compliance Meeting 58

ForUsAll

AUGUST 16, 2018

Reporting Changes to the Retirement Plan. ERISA Compliance and Fees. The 401(k) SPD in More Detail: The SPD is one of the most important documents associated with your retirement benefit plan. Member responsibilities for their retirement benefit plan. When and in what form retirement benefits are paid.

Planning Tools 49

Planning Tools Compliance Hiring Software Retirement 49

HR Daily Advisor

APRIL 11, 2017

The rule formalizing the extension, was published in the Federal Register on April 7, also delivered changes that significantly reduce compliance burdens during a transition period until January 1, 2018, when an amended BICE is expected to be in full effect. Thousands of Comments Submitted.

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Compliance Retirement Discrimination Study 46

HR Daily Advisor

DECEMBER 28, 2016

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.)

Planning Tools 43

Planning Tools Retirement HR Software Compliance 43

HR Daily Advisor

JULY 27, 2017

open-end mutual funds and exchange-traded funds (ETFs) published in late May found that, on average, investors paid lower fund expenses in 2016 than ever before. The asset-weighted average expense ratio across funds (excluding money market funds and funds of funds) was 0.57% in 2016, dropping from 0.61% in the previous year and 0.65% in 2013.

Retirement 46

Retirement Study Trends Report 46

HR Daily Advisor

JULY 6, 2018

Automated features now standard for most employer-sponsored retirement plans helped bring about a record 8.3-percent Employer contributions measured by the firm included all types of employer money, such as matching contributions, discretionary contributions, and retirement contributions. percent in 2016. Rowe Price study.

Retirement 40

Retirement Report Compliance Trends 40

HR Daily Advisor

APRIL 6, 2017

Overview of the 2016 Report. The 2016 report said that “[t]he issues faced by participants and plan sponsors who come to the Advocate for help raise the need for changes in the administrative practices adopted by PBGC that may have served the corporation well in its early years, but now need a fresh look.”. First, it applauds: Kudos.

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Report Retirement Case Study Compliance 43

Sage HRMS

MARCH 14, 2016

With this in mind, what changes were in store for FICA in 2016? There were only two adjustments for FICA rates and thresholds for 2016, according to the IRS. The former is important, since 2016 is a presidential election year. For those around retirement age, the means test remains the same. The more things change.

Retirement 40

Retirement Compensation Payroll Resources 40

HR Daily Advisor

MAY 30, 2018

2018-01 , issued April 23, instructs Employee Retirement Income Security Act (ERISA) plan fiduciaries on the regulatory framework to use when addressing Economically Targeted Investments (ETIs) and proxy voting. Jane Meacham is the editor of BLR’s retirement plan compliance publications. Economically Targeted Investing.

Retirement 40

Retirement Planning Tools HR Software Policies 40

HRWatchdog

MAY 6, 2020

To help employers through these uncertain times, the California Secure Choice Retirement Savings Investment Board has extended the current deadline from June 30, 2020, to September 30, 2020, for employers with more than 100 employees to register with the CalSavers program. Roberts, Esq., Employment Law Counsel Subject Matter Expert.

Retirement 59

Retirement Employment Law Payroll Compliance 59

HR Daily Advisor

NOVEMBER 29, 2016

Department of Labor (DOL) has announced an update on compliance with employee benefit plan rules under the Employee Retirement Income Security Act (ERISA) for those adversely impacted. The counties also are referenced in IRS Announcement 2016-39. In light of the devastation following Hurricane Matthew, the U.S.

Employee Benefits 40

Employee Benefits Compliance Retirement Report 40

ACA Times

AUGUST 8, 2017

After numerous delays, the Department of Labor put its final fiduciary rule, which was issued on April 8, 2016, into partial effect on June 9 this year, but with enforcement full implementation on January 1, 2018. We’re committed to helping companies reduce risk, avoid penalties, and achieve 100% ACA compliance.

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Retirement Compliance Compensation Examples 100

HR Morning

MAY 20, 2016

The sheer complexity of changing federal regs as well as the impact of recent landmark court rulings on benefits plans make assessing health-plan compliance a critical task that HR pros need to put at the top of their to-do list. . For a sample health plan compliance assessment checklist, visit. In fact, ERISA attorney Daniel N.

Compliance 46

Compliance Retirement Discrimination Policies 46

Zenefits

AUGUST 17, 2020

Closing the retirement race gap. Closing the retirement race gap. When you lengthen the retirement age to get the full benefit, you’re putting a cut on the people who are going to die younger.”. Social scientists and policy analysts are discussing another income gap in this country — the retirement race gap. .

Hiring Software 68

Hiring Software Retirement System Policies 68

HRWatchdog

JUNE 19, 2019

In 2016, the California Legislature passed a bill that laid the foundation for a state-run retirement plan, and in 2018, the final governing regulations were adopted. Eligible employers can begin to register for the CalSavers Retirement Savings Program (CalSavers) on July 1. Five or more employees must register by June 30, 2022.

Retirement 70

Retirement Employment Law Payroll Compliance 70

HR Daily Advisor

JULY 18, 2017

Periodic risk assessments, updated policies and procedures, and ongoing training are critical to HIPAA compliance, said Kathryn Bakich, senior vice president at Segal Consulting. Slaughter , JD, is a Senior Legal Editor for BLR’s Thompson HR products, focusing on benefits compliance. Minimizing HIPAA Privacy Liability.

HIPAA 47

HIPAA Assessment Software Compliance Policies 47

ACA Times

JULY 11, 2016

At the end of 2016, UnitedHealth will exit California’s Marketplace—making it yet another territory that the provider will leave—despite just entering the exchange this year. We’re committed to helping companies reduce risk, avoid penalties, and achieve 100% ACA compliance. For questions about the ACA contact us here.

Retirement 100

Retirement Planning Tools Compliance Groups 100

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

Astron Solutions

JULY 14, 2023

” In 2016, the Equal Employment Opportunity Commission enacted a program to collect pay data from employers with the goal of using the information to help end pay discrimination. and indirect forms of compensation (health insurance, retirement plans, PTO, etc.) Department of Labor , “In the U.S., into compensation packages.

Compensation 52

Compensation Wage and Hour Training Hiring Software Bonuses and Incentives 52

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. See, IRS 2016 Required Amendments List Gives First Guidance on Changes Needed to Retain Qualification.). In Revenue Procedure (Rev.

Retirement 40

Retirement Compliance Meeting 40

HR Daily Advisor

MARCH 28, 2018

million recovered in FY 2016, statistics from the department showed. EBSA also referred 134 cases for civil litigation following failed efforts for voluntary compliance by the plans. The Delinquent Filer Voluntary Compliance Program (DFVCP) accepted 22,139 annual reports and took in $14.4 The nearly 681,000 retirement plans, 2.3

Retirement 47

Retirement Compliance Report Employee Benefits 47

Extensis

SEPTEMBER 13, 2022

spent $114,339 per DALY averted between 1996 and 2016, though reported a vast difference across 34 evaluated causes with high spending. Medical expenses in retirement have increased 5% year-over-year totaling an average of $315,000 for a couple over 65. Researchers found the U.S.

Report 98

Report Planning Tools HR Software Recruiting Software 98

HR Daily Advisor

NOVEMBER 19, 2018

An MEP is a retirement benefit plan that is offered at the group level among a set of employers who share a commonality. MEPs are retirement plans formed by a group of employers. There is a bill proposed in congress, the Retirement Enhancement and Savings Act of 2018 (RESA) (S.2526 Let’s take a look at MEPs first. 2526 and H.R.

Retirement 70

Retirement Groups Compliance Wellness 70

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

Retirement Compliance Immedis Examples 47

HR Daily Advisor

MARCH 3, 2017

In a determination letter, the IRS rules on a retirement plan’s qualification after reviewing the employer’s plan and other documents and information. 2016-37 issued in late June 2016. Many in the retirement plan community see the changes as encouraging standardized and simpler preapproved plans. The guidance on Rev.

Planning Tools 40

Planning Tools Retirement HR Software Compliance 40

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 2016 to an estimated $1.43

Study 43

Study Analysis Retirement Strategy 43

HR Daily Advisor

FEBRUARY 21, 2017

The notice did not say how long the rule will be delayed from OMB review, but a period of 180 days has been floated by many in the retirement plan industry. Jane Meacham is the editor of BLR’s retirement plan compliance publications. She has nearly 30 years’ experience as a writer/editor of financial services news.

Retirement 46

Retirement Compliance Analysis Industry 46

HR Daily Advisor

JANUARY 24, 2017

Department of Labor (DOL), in late December 2016, reinstated earlier guidance on proxy voting for plan fiduciaries that encourages them to “responsibly” exercise their rights as shareholders. The new Interpretive Bulletin withdrew IB 2008-2 and brings back earlier guidance related to plans’ proxy voting. 2015 Reversal on ESG Factors.

Exercises 40

Exercises Retirement Employee Benefits Trends 40

HR Daily Advisor

NOVEMBER 20, 2017

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. multiemployer defined benefit (DB) plans from December 31, 2016, to June 30, 2017.

Planning Tools 43

Planning Tools Study Retirement HR Software 43

HR Daily Advisor

JUNE 15, 2017

Single-premium pension buyout sales as part of the “derisking” of defined benefit (DB) retirement plans for the first quarter rose 31% from the same period in 2016, totaling $1.4 billion—the highest first-quarter results in 15 years, according to the LIMRA Secure Retirement Institute. billion for all of 2016.

Data 43

Data Retirement ATS Groups 43

HR Daily Advisor

FEBRUARY 6, 2017

The memo directs the DOL to “examine the Fiduciary Duty Rule to determine whether it may adversely affect the ability of Americans to gain access to retirement information and financial advice.” Is likely to increase in litigation or the price of retirement services. Chamber of Commerce praised Trump’s action.

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Retirement Planning Tools Compliance HR Software 40