HR Management
Grasping the importance of preparing for retirement does not necessarily translate to action to bring it about, says a recent study on Americans’ financial beliefs and behavior.There is good news, says the survey commissioned by Fifth Third Bank on those beliefs and whether Americans are acting on...
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Health savings accounts provide a tax-free vehicle for participants to accumulate investments in order to reimburse out-of-pocket medical expenses. In MarketBeat, Kimberly Flett discusses the advantages of establishing one, as well as how they relate to retirement plans.
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A 501(c)(3) employer has asked you whether the summary plan description (SPD) must be filed with the Department of Labor. In Tech Talk, Ellie Lowder tells us what the rule is.
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p>No fooling — some retirees and IRA holders must take required minimum distributions (RMDs) by April 1. The IRS in IR-2016-48 on March 28 issued a reminder that IRA holders who turned age 70½ in 2015 must take RMDs; similarly, retirees who reached that age last year must take RMDs from...
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The 2016 election is still months away, but talk of tax reform — and its potential to undermine incentives for retirement savings — is “back” on Capitol Hill.The Chairman of the House Ways & Means Committee, Kevin Brady (R-Texas) intends to lay the groundwork for tax reform this year, so that a...
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The IRS on Jan. 29 issued guidance on mid-year changes to a safe harbor plan under Internal Revenue Code Sections 401(k) and 401(m). It provides that a mid-year change either to a safe harbor plan or to a plan's safe harbor notice does not violate the safe harbor rules just because it is a mid-year...
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Think it’s impossible to still encounter issues with missing participants in an age in which digital footprints abound? It is. In “I’ll Be Missing You: Tips for Locating Missing Participants,” an article that appeared in the Winter 2016 issue of Plan Consultant magazine, Quarles & Brady LLP...
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The Baby Boom is beginning to pass the torch to succeeding generations, at least in the work force. And while the next generation after them may be Generation X, it’s the Millennials who are generating the most attention, due to their sheer numbers if nothing else. Their growing prominence means...
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A new survey finds that most workers strongly disagree with the statement, “My employer is responsible for providing for my retirement.”The study, “Investor Mindset: Attitudes, Concerns, Beliefs & Goals,” one of 10 sections of the Hearts & Wallets’ 2015 Investor Quantitative Database, not...
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We may be in the cyber age, but don’t be too quick to discount the personal — at least regarding defined contribution plan education and assistance. Retirement planning service provider PlanVision found in a recent study that a strong majority of plan participants prefer personal guidance.Plan...
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Plan sponsors should always keep a close eye on whether a worker is classified as an employee or an independent contractor since this has a significant effect on retirement plans. In MarketBeat, Michael Webb outlines differences under current law between and employees and independent contractors,...
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Like many other states, the Bay State faces budget challenges. But among the ways it has sought to ameliorate that, as well as cut the cost of paying pension benefits, is a novel approach — encouraging early retirement of certain state employees.Specifically, the program was open to employees age...
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