Employee Benefit News

MAY 4, 2023

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Money Talk

MAY 4, 2023

Today, I presented a general session program for financial educators and researchers at an online professional conference. My chosen topic was Ten Trending Topics in Financial Education. Below is a brief description of the ten trends that I discussed: Inflation- The U.S. had an ascending 5% inflation rate (CPI) in May 2021 and a descending 5% CPI in March 2023 and many higher inflation rates in between.

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PayrollOrg

MAY 4, 2023

The California Department of Financial Protection and Innovation issued proposed regulations that would govern earned wage access. Comments on the proposed rules are due to agency by May 17.

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Proskauer's Employee Benefits & Executive Compensa

MAY 4, 2023

A third district court has dismissed with prejudice a complaint alleging that defendants breached their fiduciary duties under ERISA by offering 401(k) plan participants the option to invest in BlackRock LifePath Index Target Date Funds (the “Funds”). Beldock v. Microsoft , Case No. 22-cv-1082 (W.D. Wash. Apr. 24, 2023). Although the outcome of the court’s ruling here is consistent with earlier decisions, the rationale underlying the Beldock decision arguably goes further than in prior rulings

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Speaker: Sean Raible

Picture a workplace where physiological safety is not just an aim but a reality, driven by thoughtful employee benefits that prioritize mental health, wellbeing, and DEI. 🤔 ✨ Achieving this vision requires more than just occasional training sessions and employee assistance programs. Moving beyond the basics, this vision calls for a holistic approach that integrates these elements into your company culture as well as your HR and benefits strategy.

Health

Employee Benefits

MAY 4, 2023

Social care charity Making Space has increased pay by 10%, or the equivalent of £1,950 per year for full-time staff, in order to bring wages up to the level of the living wage. Employees at social care services run by the charity, amounting to more than 1,000 people across England, received the raise in their April 2023 pay packets. Making Space confirmed that it will pay all employees nationwide a minimum of £10.90 per hour.

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WEX Inc.

MAY 4, 2023

The IRS requires your flexible spending account (FSA) participants to submit documentation to prove their purchase was an eligible expense. The IRS emphasized these requirements and potential penalties for employers not meeting the requirements when releasing an Office of the Chief Counsel memorandum last week detailing medical expense claim substantiation for medical FSAs and dependent care FSAs.

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Workplace Insight

MAY 4, 2023

The vast majority of UK office landlords do not have a sustainability strategy in place despite evidence showing that it would increase the attractiveness of their properties to tenants, according to a new poll commissioned by infinitSpace in partnership with The Instant Group. The survey defined a strategy as several policies with an overall aim to reduce greenhouse emissions and/or promote environmentally friendly practices.

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AssuredPartners

MAY 4, 2023

Construction is a trillion-dollar industry, but construction can’t happen without subcontractors. With specialized skills, such as plumbing, electrical work, carpentry, and roofing, subcontractors allow general contractors to focus on managing the projects while adjusting their workforce to meet project demands. Because subcontractors are a vital part of the construction industry, it’s important to recognize and address their challenges.

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HR Digest

MAY 4, 2023

In a shocking revelation, an investigation conducted by the Kentucky labor department has uncovered that McDonald’s restaurants in the state have been violating child labor laws. This exposes the stark reality that large corporations like McDonald’s often prioritize profits over the welfare of their employees, especially children. According to the report, hundreds of children, some as young as 10 years old, were found to be working in McDonald’s restaurants, often for long hour

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Advertiser: Paycor

There’s a new overtime salary threshold that will impact employers across the country. If you have an employee making less than $43,888 on July 1 or less than $58,656 on January 1, you’re going to have to start paying overtime. Download Paycor’s guide to learn: Which groups of employees are affected? How should you classify employees? Best ways to mitigate risk.

Overtime

Florida Workers' Comp

MAY 4, 2023

In his 1973 hit The Piano Man, Billy Joel penned an intriguing lyric that has resonated with many: “They're sharing a drink called loneliness, but at least its better than drinking alone.” The song is about a variety of patrons in a bar. They are perhaps engaged, or not. There is a collectivity in the characterization. As detached or disengaged as they may be, they are together somewhere.

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Darwinbox

MAY 4, 2023

Darwinbox has been rated as the top Customers' Choice Cloud HCM Suite for 1,000+ Employee Enterprises in 2023 by the Gartner Peer Insights "Voice of the Customer" (VoC) report. Darwinbox received a score of 4.7 out of 5, the highest rating on Gartner Peer Insights, ahead of established vendors.

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LACE Partners

MAY 4, 2023

How do you create a positive work environment for your employees? This was just one of the questions that this week’s podcast, where Chris from our team spoke to co-founder Aaron Alburey and Client Executive Director, Tim Ringo , as well as how this can lead to an increase in engagement, belonging, and productivity (we’ve just launched a new campaign – Redefining workforce productivity – which you can read more about here ).

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Flimp Communications

MAY 4, 2023

Lower medical costs alone justify an investment in employee wellness, but that’s hardly the end of the story. What about productivity? The post The Connection Between Wellness and Productivity: Insights for HR Managers appeared first on Flimp.

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In today’s dynamic work landscape, where the lines between personal and professional life blur, understanding the intricate interplay between social determinants of health (SDoH) and emotional wellbeing is paramount. Employers must acknowledge that the whole person comes to work and every aspect of a person’s personal and professional life, especially their mental health, comes with them.

Employment

Employee Benefits

MAY 4, 2023

A quarter (26%) of large employers have seen an increase in the number of pension scheme opt-outs among employees in the face of the cost-of-living crisis , according to research by Cushon. The research, conducted among more than 2,000 UK organisations employing 500-plus employees, found that pension scheme opt-outs were one of a number of cost saving measures, including cutting down on non-essential spending (52%).

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HR Lineup

MAY 4, 2023

Gender pay gap refers to the difference between the earnings of male and female employees. This is a prevalent issue in many workplaces around the world, despite numerous efforts to address it. Women are still paid less than men for the same work, with statistics showing that women earn about 82 cents to the dollar earned by men. This gap is particularly pronounced in certain industries, such as technology and finance, and is more significant for women of color.

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International Foundation of Employee Benefit Plans

MAY 4, 2023

Over the past several years, May 4 has skyrocketed in popularity as Star Wars Day—as in, “May the Fourth be with you.” In honor of May the Fourth, we thought it would be fun to continue the rebellion against convention by using Star […] The post In a Benefits Plan Far, Far Away appeared first on Word on Benefits.

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InterWest Insurance Services

MAY 4, 2023

Most health insurers plan to continue offering free preventative care services despite a federal judge having imposed a nationwide injunction on an Affordable Care Act requirement that these services are covered with no out-of-pocket costs on the part of patients, according to a letter by industry trade groups. With concern growing that this important part of the ACA would suddenly be revoked, some of the nation’s largest insurers and industry trade associations penned a letter to lawmaker

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The pressure is on to create a positive onboarding experience. Plus, a sub-par onboarding process can domino into other concerns such as low performance, burnout (for you and new hires), and retention challenges. Our 2024 State of HR report will give you a realistic picture of the HR landscape and tips to onboarding effectively in the year to come.

McDermott Will & Emery Employee Benefits

MAY 4, 2023

There has been a flurry of activity in Congress focused on healthcare issues over the last two weeks. Committees in both the US House and Senate held hearings on legislation focused on increasing transparency and competition in the healthcare system that could have significant impacts for certain healthcare providers, healthcare plans and pharmacy benefit managers. […] The post Healthcare Preview for the Week of May 1, 2023 appeared first on EMPLOYEE BENEFITS BLOG.

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Healthcare Employee Benefits Health and Welfare Management 72

TLNT

MAY 4, 2023

The missing piece in HR metrics: Employee career growth

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HR Digest

MAY 4, 2023

Employee training and development are essential for any organization’s success. It is crucial to have a well-designed and implemented employee training and development program that meets the needs of employees and the organization. In this article, we will cover the best practices for developing and implementing an effective employee training and development program.

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BetterUp

MAY 4, 2023

Jump to section What’s an introvert? What jobs are good for introverts?

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Discover how Color's comprehensive care solution is revolutionizing cancer screening adherence and knowledge. Through an in-depth case study, Color's unique approach to comprehensive cancer care has shown significant benefits in increasing screening rates and enhancing patient knowledge. Participants reported a 2-3x increase in adherence to screening guidelines over just 8 weeks, with 84% of participants increasing their familiarity with timing and frequency of cancer screening.

Utilities

HR Digest

MAY 4, 2023

Elon Musk, the CEO of Twitter, has recently made a controversial decision to slash the company’s paid parental leave policy. The move, which reduces the policy from 20 weeks to just 14 days, has received backlash from employees and the general public. According to internal company documents, Musk has drastically reduced Twitter’s paid parental leave policy from 20 weeks to just 14 days.

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HR Professionals Magazine

MAY 4, 2023

By Cristie Travis Unfortunately, Tennessee sits in the middle of the obesity, diabetes, and hypertension belts in the US — a triple-threat to the health, productivity, competitiveness and economic vitality of our region. In Tennessee: 33% of adults have hypertension 13% of adults have diabetes 34%, 3 times the number of people diagnosed with diabetes, have pre-diabetes, and without lifestyle changes, most people with pre-diabetes will develop type 2 diabetes in 5-6 years.

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Employee Benefits

MAY 4, 2023

Grocery retail giants Ocado and Tesco Stores are among those shortlisted for the Best financial wellbeing strategy category at the Employee Benefits Awards 2023. At a time when living costs and inflationary pressures are rising, this award recognises those employers which succeeded in improving and supporting the financial wellbeing of staff during 2022.

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HR Lineup

MAY 4, 2023

Kahuna is a workforce management platform that helps companies manage their hourly workers more effectively. The platform provides a range of tools that allow businesses to optimize their workforce and maximize productivity, while minimizing costs and reducing turnover. One of the key features of Kahuna is its scheduling tool, which allows managers to create and manage schedules for their employees in real-time.

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Discover essential strategies for employers to balance cost optimization with care. The top priorities for employers in 2024 are retaining talent, growing revenue and sales, and attracting talent. To achieve these goals, employers are turning towards comprehensive total rewards strategies informed by data-driven insights. Hear from industry experts on cost optimization strategies and how to leverage these approaches for a healthier workforce.

Employment