Griffin Benefits

NOVEMBER 11, 2021

The IRS has finally announced adjustments to 2022 contribution limits on various tax-advantaged health and dependent care spending accounts, retirement plans, and other employee benefits such as adoption assistance and transportation benefits. HSA & HDHP Limits Increase for 2022.

401(k) 55

401(k) Retirement Plan Health Savings Account Deductions 55

Genesis HR Solutions

SEPTEMBER 22, 2020

At the end of this article, we’ll explain how a professional employer organization (PEO) can help you select, negotiate, and administer best possible benefits for your company. 16+ types of employee benefits you should consider. An HSA can be used only if employees have a qualified High Deductible Health Plan (HDHP).

401(k) 98

401(k) Employee Benefits Disability Insurance roth 401(k) 98

Insperity

OCTOBER 10, 2023

employer-sponsored 401(k) plans. Act seeks to: Open access to 401(k) retirement plans to more people Provide greater opportunities to save Offer financial incentives to save while removing common barriers and penalties So, what does the law require of employers? However, the benefits of the SECURE 2.0 The SECURE 2.0

401(k) 108

401(k) Retirement Plan Taxes Benefits Package 108

AssuredPartners

DECEMBER 11, 2022

Earlier adopters of 401(k) plans, Generation X workers are saving for retirement, but many may fall short. Despite 81% participating in an employer-sponsored 401(k) or similar plan, only 22% of this generation’s workers are “very” confident they will be able to retire comfortably.

401(k) 98

401(k) Health and Welfare Employment Retirement Plan 98

WEX Inc.

OCTOBER 4, 2023

Health savings account An HSA is an individually owned benefits plan funded by you or your employer that lets you save on purchases of eligible expenses. You must be enrolled in a high-deductible health plan (HDHP) to be eligible, which lowers you insurance premiums. When do I need access to my funds?

401(k) 98

401(k) Flexible Spending Account Health Savings Account Flexible Spending 98

HR Lineup

MARCH 13, 2022

However, the tax deduction is limited to a maximum of 25% of the total salary of the employees in this qualified employee benefit plan. Also, an employer can use a combo-plan where they adopt both the traditional or cash balance and the profit-sharing systems to provide additional retirement benefits for a few employees.

Retirement Plan 88

Retirement Plan 401(k) Gross Pay Profit Sharing Plan 88

HR Professionals Magazine

JULY 26, 2022

Employee contributions are deducted from post-tax income, so their money is generally tax-free at the time of withdrawal after age 59½. For example, a 401(k) allows for pre-tax deductions, saving you and your employees money by reducing your payroll taxes and their taxable income. Not ready for a 401(k)?

Retirement Plan 52

Retirement Plan 401(k) Employment Deductions 52

Snell & Wilmer Benefits

MARCH 21, 2024

The legislative intent of a PLESA is to allow low- and middle-income employees to use payroll deductions to accumulate funds that they can use in the event of an emergency. PLESAs may only be offered in defined contribution plans including 401(k), 403(b) and governmental 457(b) plans.

Pension 52

Pension 401(k) Retirement Plan Employment 52

InterWest Insurance Services

JULY 20, 2022

It always takes more time than usual to onboard new employees — particularly ones who are new to the workforce altogether — to your employee benefits plans. Deductibles — Explain how deductibles work and that depending on their plan they may pay the full price for health care services until they’ve met their deductible.

Education 90

Education 401(k) Deductions Deductible 90

HR Digest

OCTOBER 22, 2023

Not every company can afford such generous or quirky fringe benefits but making the most of their funds and providing more feasible ones does wonders for the mood at the workplace. 401(k) as a Fringe Benefit The very popular 401(k) is also a fringe benefit as employers can choose to assist employees with their retirement planning.

401(k) 52

401(k) Employee Stock Option Deductions Deductible 52

McDermott Will & Emery Employee Benefits

NOVEMBER 1, 2023

The Social Security Administration […] The post IRS Announces 2024 Employee Benefit Plan Limits appeared first on EMPLOYEE BENEFITS BLOG. Most of the dollar limits that are subject to adjustment for cost-of-living increases will increase for 2024.

Health and Welfare 86

Health and Welfare Employee Benefits Flexible Spending Account Health Savings Account 86

Benefit Resource Inc.

APRIL 4, 2024

As an employer or HR manager, you’re constantly seeking ways to enhance your employee benefits package, ensuring it not only attracts top talent but also supports their financial well-being throughout their careers and into retirement. One often-overlooked gem in the world of benefits is the Health Savings Account (HSA).

401(k) 52

401(k) Retirement Plan Benefits Package Deductions 52

McDermott Will & Emery Employee Benefits

NOVEMBER 10, 2023

On November 9, 2023, the Internal Revenue Service (IRS) announced cost-of-living adjustments to the applicable dollar limits for certain health and welfare plan benefits, including those for health flexible spending arrangements and commuter benefit plans, among other important updates.

Health and Welfare 82

Health and Welfare Employee Benefits Flexible Spending Flexible Spending Account 82

WEX Inc.

SEPTEMBER 14, 2023

Increasingly, employers are offering their employees both HSA-eligible health plans (or high-deductible health plans ) and traditional health plans. That’s essentially what you’re doing when your employer offers to contribute or match your contributions to a benefits plan or 401(k) and you’re not taking advantage.

401(k) 98

401(k) Health Savings Account Flexible Spending Account Healthcare 98

Vantage Circle

JUNE 16, 2021

In addition, the employer sets a lock-in period before which the employee cannot withdraw the money. In such plans, the employer combines the profit-sharing with the 401(k) plan. Thus, implementing such a plan results in enhanced employee retention. Profit-sharing Vs. 401(k). Hybrid Profit-sharing Plan.

401(k) 52

401(k) Profit Sharing Plan Retirement Plan Bonuses 52

HR Lineup

DECEMBER 27, 2022

In addition to its time and attendance features, Rippling also offers a range of tools to help businesses manage employee benefits and payroll. This includes tools for managing employee insurance, 401(k) plans, and other benefits, as well as tools for calculating payroll and tax deductions.

401(k) 52

401(k) Payroll System Payroll Deductions 52

WEX Inc.

APRIL 24, 2023

One emerging trend is employers offering their employees health plan options. Nearly two-thirds of large employers provide their employees with the choice of a high-deductible health plan (HDHP) and a traditional health plan, such as a preferred provider organization (PPO), during open enrollment.

401(k) 52

401(k) Health Savings Account Deductions Deductible 52

InterWest Insurance Services

MARCH 22, 2022

One way you can give your staff more choice in the employee benefits they receive is to offer them a cafeteria plan, which allows them to put together a benefits package that works best for them. Employers fund these flexible benefit plans with funds that are deducted from their employees’ salaries on a pre-tax basis.

Flexible Spending Account 76

Flexible Spending Account 401(k) Flexible Spending Deductions 76

McDermott Will & Emery Employee Benefits

OCTOBER 21, 2022

The table below compares the applicable dollar limits for certain employee benefit programs and the Social Security wage base for 2022 […]. The post IRS Announces 2023 Employee Benefit Plan Limits appeared first on EMPLOYEE BENEFITS BLOG.

Employee Benefits 80

Employee Benefits Flexible Spending Account Employment Health Savings Account 80

InterWest Insurance Services

JUNE 16, 2022

Despite the job market upheaval and intense competition for talent, there is a mismatch between the value that human resources executives and job prospects put on employee benefits, according to a new survey. But the one issue hanging over all employee benefits, particularly health insurance, is the costs.

401(k) 91

401(k) Health Insurance Health Savings Account Insurance 91

Empuls

APRIL 28, 2023

According to a recent study by HBR , 80% of employees say that benefits are a significant factor in deciding whether to accept a job offer, and 60% of employees report that benefits are a major reason for staying with their current employer. What are employee benefits?

Family and Medical Leave Act 40

Family and Medical Leave Act Employee Benefits Parental Leave Benefits Package 40

HR Lineup

FEBRUARY 9, 2023

One of the key features of Ease is its benefits administration module, which allows businesses to offer their employees a range of benefits such as health insurance, 401(k) plans, and paid time off. The payroll module also offers features to manage employee time off requests and track paid time off balances.

401(k) 52

401(k) Payroll Manager Payroll Health Insurance 52

Business Management Daily

APRIL 29, 2024

Finding employee fringe benefits The field of workplace perks has become an industry of its own. Not only have countless services emerged to simplify things like wellness and retirement, but employee benefits administration software (BA) now exists to help companies simplify the process of delivering a benefits program.

Out of Pocket Cost 84

Out of Pocket Cost PTO 401(k) Deductions 84

Proskauer's Employee Benefits & Executive Compensa

APRIL 3, 2023

They also focus on certain aspects of this insurance product as it relates to executive compensation and employee benefits matters. Listen to the podcast David Teigman: Hello and welcome to The Proskauer Benefits Brief: Legal Insight on Employee Benefits and Executive Compensation. Welcome to you both.

Executive Compensation 52

Executive Compensation Insurance Employee Benefits 401(k) 52

PeopleStrategy

OCTOBER 3, 2023

As workforces nationwide continue to become more multigenerational, HR and benefits professionals have the unique task of tailoring employee benefits that meet an increasingly diverse range of wants and needs. Retirement Plans: Offer various retirement planning options, including 401(k)s, IRAs, and pension plans.

401(k) 52

401(k) Retirement Plan Parental Leave Health Savings Account 52

Business Management Daily

DECEMBER 1, 2019

Hourly-paid nonexempts are impacted only to the extent of withholding and deductions. No federal or state agency requires you to adjust employees’ pay for the extra pay period. If you choose not to adjust, employees could be underwithheld. Employees’ benefits deductions and allowances (e.g., Do nothing.

Payroll 83

Payroll 401(k) Deductions Deductible 83

HR Professionals Magazine

SEPTEMBER 2, 2021

As pensions have gone by the wayside and 401(k) plans have gained more notoriety, employees have become increasingly more aware of their employer sponsored retirement plans, and the financial benefits they provide. At its most basic level, a 401(k) plan allows employees to save for their personal retirement needs.

Retirement Plan 52

Retirement Plan roth 401(k) 401(k) Taxes 52

Higginbotham

NOVEMBER 2, 2023

Retirement savings programs are a staple of employee benefits – many employees and job seekers want robust offerings to help them catch up. Offering retirement benefits also makes financial sense because they often come with tax incentives. Defined benefit plans promise a specified monthly benefit at retirement.

401(k) 52

401(k) Disability Insurance Benefits Package Insurance 52

Higginbotham

JANUARY 18, 2022

In addition to the salary of $70,000, Company A offers a great health plan, as well as disability insurance, life insurance, dental insurance and vision insurance with no costs for the employee. Company A also offers a 401(k) with contribution matching. Employees get paid holidays and five paid personal days each year.

401(k) 52

401(k) Disability Insurance Salary Life Insurance 52

CorpStrat

DECEMBER 3, 2021

It might be a little hard to build a great story and message through plain text but if you use videos and some cool graphics, you can really help employees understand what benefits are best for them and help them determine what programs compliment their family’s needs. Offer Voluntary Benefits. Explain Cost. Tell Your Story.

Voluntary Benefits 98

Voluntary Benefits 401(k) Benefits Package Deductions 98

Benefit Resource Inc.

APRIL 8, 2021

Here’s a scary statistic for you: according to the International Foundation of Employee Benefit Plans , 80% of employers struggle to get employees to read benefits enrollment materials during Open Enrollment. Can you really blame the employees though? A 401(k) to save money for retirement.

401(k) 98

401(k) Health Health Savings Account Medical 98

Business Management Daily

SEPTEMBER 25, 2020

Examples: HR, Accounts Payable, Accounting, Benefits, Accounts Receivable. Review the holiday processing schedule and remind managers of the dates employees’ time sheets are due to Payroll. Identify new outsiders, such as third-party 401(k) plan administrators or third-party payers of sick pay, with whom you’ll be working.

Payroll 40

Payroll 401(k) Taxes Deductions 40

Corporate Synergies

AUGUST 6, 2018

Educate employees on how to use these funds for current and future healthcare expenses. Health savings accounts can be a good deal for employees. But there’s a great chance that if you offer a high deductible health plan with an HSA, your employees aren’t crystal clear on the benefits of the health savings account.

401(k) 40

401(k) Health Savings Account Retirement Plan Deductions 40

Griffin Benefits

NOVEMBER 23, 2021

Employee benefit offerings can be powerful motivational tools. Here are some best practices for employers to use when coaching more cost-conscious employees through the benefits enrollment process. Age can often be a significant determinant of budget and benefits.

401(k) 55

401(k) Retirement Plan Healthcare Life Insurance 55

Insperity

AUGUST 9, 2016

The benefits you offer potential employees can make or break their decision to work for you. Also, employee benefits are typically one of your heftiest expenses as a business owner. Differentiate between required and optional employee benefits. Know the required employee benefits.

Banking 50

Banking Employee Benefits Disability Insurance 401(k) 50

HR Professionals Magazine

MARCH 28, 2023

Additionally, many employers and employees would not “buy down” their deductible if they knew the true cost of that deal. Some plans require more in premium dollars than you save in decreased deductible. For example: Your plan has a $2,500 deductible, but your employees say they want a smaller one.

Deductions 40

Deductions Deductible 401(k) Benefits Package 40

Business Management Daily

SEPTEMBER 22, 2021

Employees get to select a new plan for their health insurance and opt into other employee benefits for the next year. You may also want to check out the job ads on Glassdoor pages of other companies in your industry to see what benefits they are offering. Open enrollment season is right around the corner!

Employment 90

Employment Deductions Deductible Benefit Providers 90