News

In Announcement 2015-19, issued on July 21, 2015, the Internal Revenue Service said it was eliminating the staggered five-year determination letter remedial amendment cycles for individually designed tax-qualified retirement plans effective Jan. 1, 2017. Employers depend on these determination letters to ensure both their defined benefit and defined contribution plans remain in compliance with the […]

New Vermont legislation that requires employers to provide paid sick leave will have the greatest impact on smaller employers that don’t currently offer a comparable benefit and employers doing business in multiple states. Under H.187 passed by the Vermont legislature in February, employers must provide employees in the Green Mountain State at least 24 hours […]

In more than 20 years working in human resources, there is one thing I’ve learned above everything else: HR is incredibly complex. For starters, there are dozens of state and federal agencies tasked with enforcing hundreds of employment-related laws that organizations must follow. Add to this that businesses are also responsible for, at a minimum, […]

Employers who haven’t already started preparing to adhere to the Department of Labor’s proposed overtime rules – raising the minimum salary for FLSA exemptions – are already behind the eight-ball, according to one expert. “Do not wait for the DOL to publish its final rule to begin preparing,” says Tammy McCutchen, a principal with Littler […]

Tax season is well underway and the April 18, 2016 filing deadline is approaching fast. Employers, and particularly small business owners, can’t wait until April to get started on filing — they need to start now, if they haven’t already. From the Affordable Care Act to employee classification, there is a multitude of evolving regulations […]

Premium increases continue to motivate employers to consider cost-saving solutions they previously may have shunned, Paul Fetterolf, senior consultant and market leader of Arthur J. Gallagher, says, encouraging advisers to understand some of these augmenting strategies. “Employers are considering things they wouldn’t have before, including self-funding, captives, PEOs,” he said while moderating a panel of […]

Employers hoping to attract and retain employees need not look further than their vision benefit offerings. New research shows vision benefits have high engagement with employees, but some experts say employers need to work closer with advisers to build the benefit plan workers are seeking. According to the 2016 annual Employee Perceptions of Vision Benefits […]

5 ways to help employees maximize FSA dollars If your employer-sponsored Flexible Spending Account (FSA) has a grace period, employees have until March 15 (for plans that ended Dec. 31) to spend FSA dollars from 2015. That’s good news, but did you know that many employees that many employees do not understand or know about […]

401(k) plans are normally established and maintained by plan sponsors — usually the company — pursuant to a plan document or agreement. Fiduciaries (trustees) named in the plan document are responsible for the operation and administration of the plan. They, in turn, appoint an employee of the company to be the plan administrator. This individual […]

Many employers are still working to catch up to and understand the new requirements of the Affordable Care Act (ACA) – including the IRS, which has announced automatic extensions to certain reporting requirements for this year. In the first case of its kind, a federal court in New York City has recently given employers some potential […]