Perks Over Pay: The Name of the Game
A whopping 79% of employees would rather have better benefits or perks than have better pay, according to a recent survey conducted by Glassdoor®. Today we’ll explore some of the details of that survey.
Tag: benefits
Ask the Expert: Summary Plan Description (SPD) Requirements
Can you please advise me on the regulations for providing summary plan descriptions (SPDs) for our employees? Since we don’t have SPDs yet, should there be an urgency in getting them produced for distribution this year or can this be a project for 2016?
Flu Shots—Why You Should Encourage Younger Workers to Get Them
If you think that only older workers need to be encouraged to get flu shots, you might want to reconsider. This flu season, the federal Department of Health and Human Services is promoting the flu vaccine to younger adults; for several reasons, you might want to do this as well.
Are Nonprofits Ready for the ACA? Survey Says, No
A new survey reveals that fewer nonprofits understand Affordable Care Act (ACA) requirements now, in 2015, than they did in 2014. Additionally, over half of surveyed nonprofits have not yet calculated the cost of ACA compliance.
Reluctance about Researching Healthcare Benefits Continues
As employers continue to load more health care expenses onto workers, more than half (53%) of employees are still choosing a major medical plan based on factors that may have little to do with the total cost of health care for which they are increasingly responsible.
Private Sector Criticizes DOL Proposal to Let States Run Retirement Plans
The U.S. Department of Labor laid the groundwork for states to run ERISA-covered auto-enrollment individual retirement accounts and multi-employer retirement plans for people without workplace savings options, issuing proposed rules and an interpretive bulletin for that purpose. The so-called open MEPs give employers that don’t want to offer their own 401(k) plan a way to join with other companies […]
Saving and Investing: The Great Recession’s Impact on Millennials
Your 401(k) plan is designed to help everyone in your workplace to save for retirement—from the youngest employee to the oldest. In the last few years, you may have emphasized the importance of saving early and enough. It can be challenging to reach a diverse group of employees with a message that encourages action, because […]
BP Litigation: Plan Sponsor Not Liable for Employees’ Failure to Inform
Fiduciary status under ERISA “is not an all-or-nothing concept,” according to a recent federal district court ruling that found BP and its North American unit were not liable for their retirement plan employees’ breaches of fiduciary duty. The lawsuit arose from a BP company stock plan available as investment to plan participants that plunged in […]
Technology and ICD-10 Give Plans New Recovery Powers
Health plans are unlocking the power of ICD-10 codes and using modern technologies to identify and track the progress of cases to maximize recoveries when plan members have been reimbursed twice for injuries caused by liable third parties, Elizabeth Longo, general counsel for Discovery Health Partners, explained. Unlock the Power of ICD-10 Using data mining […]
When Is ‘Ineligible’ Employee Covered By FMLA?
By Valeria Gomez, JD It’s no secret that the Family and Medical Leave Act (FMLA) provides leave benefits only for employees who fit the strict eligibility requirements set forth in the statute. Recently, however, the U.S. Court of Appeals for the 6th Circuit—which covers Kentucky, Michigan, Ohio, and Tennessee—ruled that an employer may not be […]