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Employee Benefits Management: Getting the Most Out of Your Benefits Plan

Netchex HR Blog

When done properly, employee benefits management helps employees, as well as the company. Because employee benefits can be complicated, and you need a centralized system to manage costs and adjust policies. When it comes to benefits, both legal compliance and employee satisfaction are important.

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HR acronyms and abbreviations you need to know

Bob

AARP: American Association of Retired Persons. ATD: Association for Talent Development (formerly ASTD: American Society for Training and Development). CEBS: Certified Employee Benefits Specialist. CTO: Compensatory Time Off. DB: Defined Benefit. DBPP: Defined Benefit Pension Plan. EE: Employee.

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Top 4 Hurdles Facing Employers This Open Enrollment Season

Payactiv

Inevitably, this year, the complexities facing businesses and HR teams during open enrollment season will be heightened due to tighter budgets, the rising costs of benefits, increasingly stringent compliance regulations, and the need to craft a benefits strategy that positions the organization as an employer of choice in a competitive job market.

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What is ERISA?

HR Daily Advisor

ERISA stands for the Employee Retirement Income Security Act of 1974. In short, this is the federal law that creates standards for retirement, health, and pension plans. The Act advises when employees must be allowed to join the plan. It regulates how benefits accrue. Primary ERISA Provisions.

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Responsibilities of the DOL

HR Daily Advisor

On their website today, they state their mission [i] : “To foster, promote, and develop the welfare of the wage earners, job seekers, and retirees of the United States; improve working conditions; advance opportunities for profitable employment; and assure work-related benefits and rights.”. The Way the DOL Works.