Do we need a retirement plan committee? If your plan requires an independent audit, you definitely should have a retirement plan committee in place and meet regularly. Your auditor is likely to request committee meeting minutes as part of their audit. Smaller plans are moving to adopt this best practice, as it creates proof
66% of retirement plans work with a retirement plan consultant or advisor, according to 2017 PLANSPONSOR Defined Contribution survey. This number has steadily grown the past few years. The top 3 reasons plan sponsors say they hired an advisor are: #1 Want to better understand how well my plan is working for my employees and
Medicare’s Annual Enrollment Period (AEP) is here which means your Medicare eligible or “near eligible” employees are inundated with confusing communications. For HR professionals, it can be a challenge to assist with Medicare questions. The following are three key things all employers must know! 1. Is your group size considered large or small? In general,
There is a difference between having a choice and making a choice. Open enrollment is in full swing, which sheds light on the tough decisions that employers and employees need to make this time of year. Over the past 50 years, we have seen a great shift in how employers offer benefits to their employees.
Employers have learned that improving the health and wellness of their workforce yields benefits for both the organization and employees alike: When health is improved, employers enjoy a more productive workforce with fewer absences, along with fewer demands on the employer-sponsored health insurance. Employees gain from better health and reduced medical costs. Individuals feel empowered
On Friday afternoon, the NYS Department of Financial Services announced the 2019 Paid Family Leave updates and changes. You can review the updates on the NYS PFL website. As intended, the number of weeks eligible employees can take will increase to 10 weeks, effective January 1, 2019. The benefit will also increase to 55% of
Camping! One of those rites of passage that everyone has experienced. Whether it was you and your siblings crammed in the back of your family’s station wagon asking “are we there yet?”, pitching a tent with your friends in the backyard, or hitching up the RV, we have all had some adventure we remember fondly.
A new law requires employers in New York to adopt a sexual harassment policy and training program that meet certain standards. Details of the new requirements are presented below. Model Policy The state is expected to create and publish a model sexual harassment prevention guidance document and sexual harassment prevention policy. Every employer must adopt