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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.
Based on an investigation conducted by the Employee Benefits Security Administration (EBSA), the U.S. Secretary of Labor filed a civil complaint against Ditch Witch Equipment of Tennessee Inc., an underground utility construction equipment company, and Aubrey Needham, trustee of the company’s profit-sharing plan on April 29, 2014. According to a Department of Labor (DOL) press […]
Unlike summer blockbuster movies with a large cast of key characters, benefit plan documentation has just three: the plan document under the Employee Retirement Income Security Act (ERISA), the summary plan description (SPD), and the Internal Revenue Code Section 125 cafeteria plan document.
The summary of benefits and coverage (SBC), maximum out-of-pocket limits (MOOPs), and a rule on “nondiscrimination in health programs” were among the problem areas most frequently cited by employer groups in suggesting administrative changes to Affordable Care Act (ACA) implementation.
In April, the Internal Revenue Service (IRS) published guidance clarifying the definition of highly compensated employees (HCEs), a key concept for nondiscrimination testing of both retirement plans and cafeteria plans.
Nearly 40 percent of job candidates say that schedule flexibility is one of the top three factors they consider when making career decisions, while two-thirds of candidates believe they don’t need to sitting at a desk to get their work done, according to new research from RPO provider ManpowerGroup Solutions.
Caregiving ranks among the top 10 employee health and wellness benefits priorities for most employers, says a new survey by Northeast Business Group on Health (NEBGH) in collaboration with AARP. Furthermore, among employers who say caregiving is not a top priority, most are aware of the issue but unable to address it. More than three-quarters […]
For many HR professionals, Family and Medical Leave Act (FMLA) administration is near—or at—the top of the list of most-hated-things-about-the-job. And given that the law is confusing and burdensome and nitpicky, it’s no wonder.
In addition to making sure Consolidated Omnibus Budget Reconciliation Act (COBRA) election notices are sent to qualified beneficiaries on a timely basis, employers and plan administrators should ensure that the notices’ content satisfies the COBRA regulations. They should consider using the model COBRA election notice published by the U.S. Department of Labor (DOL), which considers […]
When an employee is terminated from employment and loses group health plan coverage (subject to Consolidated Omnibus Budget Reconciliation Act (COBRA)), plan administrators should ensure that all qualified beneficiaries are sent, in a timely fashion, COBRA election notices. Plan administrators are not required to ensure actual receipt of the COBRA election notice, but a good-faith […]
A voluntary benefit plan is a suite of benefits offered by an employer that is voluntary for employees to use and is typically paid for by the employee via payroll deductions. These types of benefits are usually offered in addition to the core benefit program provided by the employer. They represent extra benefits that the […]