The Department of Labor has issued a final prohibited transaction exemption for Retirement Clearinghouse’s auto-portability program, a move which may decrease the likelihood employees cash out their retirement plans when they switch jobs. DOL posted the exemption on Wednesday in response to a request for relief from the clearinghouse, a financial technology services company that works with plan […]
When the Department of Labor issued its final rule to expand access group retirement plans, it moved a step closer to what for many in the benefits industry is the ultimate dream: unfettered access to multiple employer plans. On Monday, the DOL announced it will relax the regulations governing which employers can band together to […]
Shopping around for the best deal on a medical X-ray or a new knee? The Trump administration has a plan for that. On Monday, it proposed new rules that would provide consumers far more detail about the actual prices hospitals charge insurers. It comes amid growing calls from consumer advocates, who argue transparency can help tackle rising […]
While the U.S. is the only developed country in the world without a federal paid leave policy, more states are passing laws mandating paid time off for workers to care for new or ailing family members. Last week, Oregon became the eighth state to pass such a law when it signed a bill, giving workers 12 […]
Smart employers are boosting their benefits packages with paid family leave — the most coveted work perk among all generations. In today’s low unemployment environment, paid leave benefits can be a huge differentiator in attracting and retaining talent. But some employers are getting themselves into trouble in the process, facing accusations of gender discrimination or improper […]
Student loan debt has become a key component of the broader financial wellness conversation, and employers are beginning to realize the value of offering a benefit that will help employees get a handle on the latest U.S. debt crisis. Yet employers are still falling behind on the work that needs to be done as just […]
Low-income employees are at a high risk for facing financial barriers to healthcare, which could mean higher costs and lost productivity for employers down the road. Even when low-income workers — or those with annual family incomes of less than $35,000 — have employer-sponsored insurance, hurdles like high deductibles, coinsurance and drug prices can keep […]
House lawmakers overwhelmingly passed legislation to repeal the Cadillac tax, the Affordable Care Act’s tax on high-cost health plans, 419-6 late Wednesday. H.R. 748, titled the Middle Class Health Benefits Tax Repeal Act, received bipartisan support for killing the excise tax, as industry groups and labor unions have become vocal in its repeal over the […]
Not offering employees a retirement plan? For workers in California, the state has them covered. The California State Treasurer’s office announced the launch of CalSavers Retirement Savings Program, a state-run IRA, this week. Over 7.5 million California employees without employer-sponsored retirement plans can access the program, making it the largest state-run retirement benefit in the […]
A sales employee suffers from acute stress and anxiety, which ultimately force him to take a 12-week medical leave of absence under the FMLA. Later that year, when the employer considers bonuses, the employee does not receive one because he failed to meet the established sales targets. The employee maintains that the employer’s decision was […]
