Affordable Care Act reporting requirements for applicable large employers begin in 2016, but many employers remain confused about requirements for certain employers with special circumstances. Prompted by industry questions and concerns, the IRS has issued updated guidance to clarify some these circumstances and the requirements employers will be expected to comply with. Beginning next year, applicable large […]
Category: News
IRAs underutilized, poorly understood
Americans just aren’t into IRAs. Less than a fifth use the traditional variety, and less than a third use one of any kind. So says a new LIMRA Secure Retirement Institute study, which comes on the heels of a TIAA-CREF study that found that just 8 percent of Americans put savings in an IRA at the […]
DOL guidance helps define line between employee, contractor
The Department of Labor issued fresh guidance on how businesses should distinguish between employees and independent contractors, noting misclassification of employees has been on the rise throughout the U.S. On Wednesday, the DOL’s Wage and Hour Division released the new guidance recommending employers incorporate “economic realities” when determining how to classify a worker, including the […]
8 office policies that drive workers crazy
Trust is a key component to building a better workplace culture. Yet HR policies can sometimes be redundant, outdated and may even cause distrust between employees and company leaders. Travis Bradberry, president of TalentSmart and co-author of Emotional Intelligence 2.0, shares why it might be time to take another look at editing that employee handbook. […]
DOL clarifies annuities in 401(k)s, kind of
The Department of Labor has issued new guidance in a field assistance bulletin to clarify existing safe harbor rules for immediate and deferred annuities in defined contribution plans. The new guidance comes as the DOL is in the process of considering amendments to safe harbor regulations issued in 2008. Those safe harbor standards said a plan […]
White House tees up new retirement initiatives
The Department of Labor will issue guidance on state mandates that require small businesses to automatically enroll employees in IRAs by the end of the year. That announcement was made at Monday’s Conference on Aging, hosted at the White House. At least 20 states have proposals in the pipeline that would require businesses with, in […]
Cadillac tax: A huge car wreck for employers?
By now, you’ve probably heard of the Cadillac tax, the piece of the Affordable Care Act that levies a 40% excise tax on the cost of health insurance coverage above a certain threshold. That’s a big tax, but most employers don’t seem too concerned with it. There are likely a couple reasons for this. One, […]
7 wellness program ideas you may want to steal
LAS VEGAS–Building your own workplace wellness program takes work–and time–but it’s worth it. “It’s an investment we need to make,” Jennifer Bartlett, HR director at Griffin Communication, told a group of benefits managers during a session at the Human Resource Executive Health and Benefits Leadership Conference. “We want [employees] to be healthy and happy, and if they’re healthy […]
Employee well-being the new benefit mantra
It’s no surprise that health care costs are continuing to rise and while employers remain committed to providing benefits, many are re-evaluating their benefit strategies, using a mix of traditional cost-shifting approaches and new network and plan design strategies to combat those rising costs. Over 60% of employers have either implemented or are considering implementing […]
Proposed bill would roll back HRA penalties
Employers would be able to use standalone reimbursement arrangements (HRAs) to compensate employees for health care expenses under a bipartisan bill recently introduced in Congress. The Small Business Healthcare Relief Act (H.R. 2911 and S 1697) would roll back Treasury Department guidance that prohibits employers from using standalone HRAs to compensate employees for health care-related expenses. […]