Practical HR Tips, News & Advice. Updated Daily.
This topic provides guidance on how to handle compensation issues in a way that attracts and retains the best talent and advances the strategic goals of your business. You get news and tips on what’s going on nationally and in the states, and updates on changes in regulations, possible governmental action, and emerging compensation trends.
The U.S. Department of Labor (DOL)’s guidance for locating missing participants in the event of a plan termination has become more widely accepted for finding such participants in a variety of scenarios. But the guidance does not clearly state at what point the retirement plan fiduciary has met its obligation to track down missing participants […]
The Internal Revenue Service (IRS) released a private letter ruling (PLR) on August 17 that appeared to give the go-ahead to an employer-sponsored student loan repayment benefit offered through the company’s 401(k) plan.
If you’re a small business that’s looking to attract workers, you need to know how your company stacks up against the rest. If you’re not offering the same or better salary and benefits as your competition, you’re missing out.
Salary increases have been fairly stagnant lately. That has been a surprise to many analysts due to typically strong correlations between low unemployment and wage growth. A new study shows that stagnation is likely to continue.
A shift to using real market returns for interest crediting in defined benefit (DB) plans’ cash balance (CB) features is lessening volatility and making the supplementary retirement accounts more appealing to plan sponsors—especially because this type of formula is more responsive to changing market conditions, according to a recent study.
Federal agency audits are never far from the minds of employer retirement plan sponsors and their third-party administrators (TPAs), but knowing which recurring errors and internal controls most interest the Department of Labor (DOL) and the Internal Revenue Service (IRS) right now can be helpful in avoiding or preparing for such inquiries.
Approximately 30% of U.S. defined benefit (DB) pension plans currently have a funded status of 95% or higher, making a full buyout or significant risk transfer transaction a “feasible option” for a growing number of plans since the start of the year, according to a recent analysis by RiskFirst, a financial technology company that works […]
As we know, offering benefits is a great way to attract talent to your company, especially 401(k) retirement benefits—as this particular benefit appeals to workers of all ages.
“Reverse spinoff” transactions being considered by some retirement plans to avoid Pension Benefit Guaranty Corp. (PBGC) premiums “should be disregarded” by the agency, staff suggested in a recent web posting.
Plan sponsors regularly handle situations that arise from a deceased participant’s failure to designate a beneficiary for his or her employer-sponsored retirement account. A private letter ruling (PLR) from the Internal Revenue Service (IRS) earlier this year could provide some insight into the agency’s thinking about allowing surviving spouses to roll over a deceased participant’s […]