What is 401k Discrimination Testing?


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. What is a 401k discrimination testing? The Actual Contribution Percentage (ACP) is another variation of 401k discrimination testing. A common fear for HCEs is that their plan will fail discrimination tests. The post What is 401k Discrimination Testing?

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How to Choose a Small Business 401(k) Provider


The race for talent, coupled with the fact over 90 percent of employees expect retirement benefits, has created a crowded market of 401(k) providers, consultants, and technology platforms. Learn more > Retirement benefits come at a cost—not just to companies, but to their employees.


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Data Reveals United States Ranks Last in Worker Benefits


Zenefits has uncovered how the U.S. Retirement. Well, there’s a reason so many Americans become expats when they retire — life overseas can be much better for retirees, especially when they have dwindling employer benefits to help them retire comfortably.

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What’s the Definition of a Highly Compensated Employee?


A 401(k) is one of the most preferred retirement programs available to employees. Companies who fail these tests will be held responsible for restructuring their benefits plan to ensure employee classification and plan terms comply with The Employee Retirement Income Security Act ( ERISA ). . Get to know these 401(k) plan limits and tax responsibilities to avoid discrimination and loss of retirement funds from company errors. Contact a Zenefits Advisor today.

Compliance Checklist: Federal Employment Laws You Need To Know At Every Stage Of Your Company’s Growth


Employment Retirement Income Security Act (ERISA) , via DoL. Employers may not discriminate against employees or applicants on the basis of race, color, religion, sex, or national origin. Employers may not discriminate against people with disabilities in employment, transportation, public accommodation, communications, and governmental activities. Title VII prohibits sexual harassment and other forms of sex discrimination in workplaces.

Even as Labor Market Tightens, Experts Say Ageism Holding Small Businesses Back


Some experienced workers are open to part-time work or flexible arrangements via phased retirements and may not command higher compensation than their younger counterparts, especially if they’ve empty nesters. American workers filed 18,376 cases alleging age discrimination with the U.S. The subtle and often indirect nature of age discrimination can make it hard to prove. Russell Sinclair says he knows what ageism looks like.

Here’s the Ultimate Tool for Tax Compliance in 2019


I am a 30-year-old entrepreneur navigating the business world, attempting to get ahead in life by building new businesses and hopefully discovering that pot of gold along the way that leaves me happily retired. How to ensure your company doesn’t violate anti-discrimination laws, and. The post Here’s the Ultimate Tool for Tax Compliance in 2019 appeared first on Zenefits Blog. I’m not a compliance expert, financial analyst, or tax advisor.

Demystifying Workplace Disability: 7 FAQs


The ADA provides protection from discrimination in all aspects of employment. For permanent workplace disability, leave can run until the employee is eligible for disability or retirement payments from their Social Security contributions. The post Demystifying Workplace Disability: 7 FAQs appeared first on Zenefits Blog. Workplace disability is a wide-ranging topic that can be intimidating for small to medium-sized businesses.

Businesses Rely More Heavily on Contingent Workers, but at What Cost?


Typically employers don’t offer other contingent staff benefits, like retirement plan contributions, education benefits, sick, vacation and personal time off. They complained they were routinely excluded from company communications, even those about discrimination, misconduct and safety. appeared first on Zenefits Blog. The contingent workforce could be one of the fastest growing categories of workers in the US today.