Practical HR Tips, News & Advice. Updated Daily.
by Jane Meacham The Internal Revenue Service (IRS), in its first “Required Amendments (RA) List” on December 13, 2016, informed individually designed employer-sponsored retirement plans about required amendments for 2016 that may be needed to reflect changes and ensure the plans keep their qualified status. In the release, IRS Notice 2016-80, the agency also said […]
The District of Columbia (D.C.) Council approved a bill on December 20, requiring employers to give workers 8 weeks’ paid leave for the birth, adoption, or foster placement of a child. Employers will pay for the leave through a payroll tax.
In a recent article, I talked a bit about the complicated intersection of Medicare and The Consolidated Omnibus Budget Reconciliation Act (COBRA), with assistance from Paul M. Hamburger, Esq., author and contributing editor of BLR’s publication Mandated Health Benefits: The COBRA Guide, which I used as background research.
Two major plan sponsor organizations urged the U.S. Department of Labor (DOL) to withdraw the revisions it proposed to the Form 5500 reporting requirements for group health and retirement plans.
If you are planning to develop or make changes to your current total rewards program, you will likely seek input from several external sources, including benchmarking data. But you will also need to gather substantial internal input, such as leadership’s philosophy towards total rewards, and, perhaps most importantly, get input from your internal customers.
by Lisa Higgins, Contributing Editor We know, you’ve heard a lot about the differences between the generations, especially when it comes to work and benefits. What do the Millennials want from their employers? How does that compare to the Baby Boomers’ expectations? And please, just because they’re a smaller group, don’t forget about the Gen […]
It is more important than ever that companies evolve as quickly as the workforce in order to survive. The quality of talent, of course, has always been a top priority for business leaders and HR professionals. Nevertheless, there remains a lot of work to be done when it comes to retaining employees that have one […]
by Todd Castleton of Proskauer Rose LLP When retirement plan sponsors adopt a “safe harbor” 401(k) plan design, they are deemed to be compliant with the actual deferral percentage (ADP) and actual contribution percentage (ACP) nondiscrimination testing provisions of the Internal Revenue Code (IRS)—the federal tax Code.
The Internal Revenue Service (IRS) has issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.
What are some best practices to ensure success with reverse mentoring? As with any mentoring relationship, it is important to educate employees in advance about their roles, to create a plan up front for the mentoring partnership (e.g., what the mentee wants to learn, how frequently the mentor and mentee will meet), and to follow […]