McDermott Will & Emery Employee Benefits

DECEMBER 14, 2022

Retirement plan sponsors need to utilize updated Form W-4P (for periodic pension and annuity payments) and new Form W-4R (for nonperiodic payments and eligible rollover distributions) for income tax withholding elections beginning January 1, 2023.

Retirement Plan 81

Retirement Plan Taxes Pension Utilities 81

Proskauer's Employee Benefits & Executive Compensa

JANUARY 3, 2023

was signed into law on December 29, 2022 , making it important for plan sponsors and plan administrators to familiarize themselves with the new rules. Correction of Retirement Plan Overpayments. changes how retirement plan overpayments are corrected in two key ways, which are detailed below.

Retirement Plan 106

Retirement Plan Taxes Utilities Employment 106

McDermott Will & Emery Employee Benefits

JUNE 7, 2022

The US Department of Labor (DOL) recently issued guidance for the first time on the investment of retirement plan assets in cryptocurrencies. The post When Are Cryptocurrencies Appropriate Investments for Retirement Plans and IRAs? appeared first on EMPLOYEE BENEFITS BLOG. Compliance Assistance Release No.

Retirement Plan 70

Retirement Plan 401(k) Employee Benefits Commissions 70

Proskauer's Employee Benefits & Executive Compensa

JUNE 6, 2022

Or at the very least, predict the timing of a retirement plan audit? Last Friday, the IRS Employee Plans division announced a new pilot program whereby it will notify retirement plan sponsors 90 days in advance that their plan has been selected for upcoming examination.

Retirement Plan 110

Retirement Plan Taxes IT 110

McDermott Will & Emery Employee Benefits

JUNE 16, 2022

Retirement plan sponsors should be aware of a new Internal Revenue Service (IRS) pilot program, which permits plan sponsors to conduct a pre-examination “check-up” of retirement plan administration before the IRS begins a plan examination.

Retirement Plan 72

Retirement Plan Employee Benefits IT 72

International Foundation of Employee Benefit Plans

MAY 25, 2023

The Treasury Department and the Internal Revenue Service (IRS) temporarily allowed, in light of COVID-19 pandemic restrictions, electronic alternatives to physical presence requirements for retirement plan participants’ elections that required spousal consent.

Retirement Plan 82

Retirement Plan Electronics Employee Benefits 82

HR Professionals Magazine

MAY 24, 2022

The guidance asks fiduciaries of retirement plans to remember their main responsibility: act solely in the financial interests of plan participants and adhere to an exacting standard of professional care. The post Rolling the Dice on Crypto in Retirement Plan appeared first on HRProfessionalsMagazine.

Retirement Plan 98

Retirement Plan 401(k) Banking Education 98

McDermott Will & Emery Employee Benefits

SEPTEMBER 21, 2022

The post Save It for a Rainy Day: Recent Amendment Extensions for Qualified Retirement Plans, 403(b) Plans and Individual Retirement Accounts appeared first on EMPLOYEE BENEFITS BLOG.

Retirement Plan 85

Retirement Plan IT Employee Benefits Executive Compensation 85

HR Professionals Magazine

JULY 26, 2022

workers currently don’t have access to a retirement plan sponsored by their employer. To bridge this gap, a majority of states have contemplated state-mandated retirement savings plan legislation, and 13 have already signed such programs into law. Key retirement plan differentiators at a glance.

Retirement Plan 52

Retirement Plan 401(k) Employment Deductions 52

HR Professionals Magazine

SEPTEMBER 2, 2021

As an HR professional, you might read that title and think, “Duh – aren’t all retirement plans focused on employees?” Over the last 30 years, Defined Contribution Plans, or 401(k), plans have become a popular employer benefit option for saving for retirement. Well, yes and no. ELIGIBILITY.

Retirement Plan 52

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

Employee Benefits

APRIL 10, 2023

. “By opening the door to financial learning, we hope to give our employees some of the basics that they might otherwise be left to teach themselves.” ” Read more: How have the pension freedoms impacted retirement planning?

Retirement Plan 52

Retirement Plan Pension Taxes Education 52

International Foundation of Employee Benefit Plans

JANUARY 13, 2023

Plan sponsors and administrators are encouraged to reference these comprehensive calendars to stay on track in 2023. Health and Retirement Plans Subject to ERISA (Includes Multiemployer Plans) Health and Welfare.

Health and Welfare 85

Health and Welfare Employee Benefits Retirement Plan 401(k) 85

HR Digest

MAY 21, 2023

A strong employee benefit package can go a long way. Employer benefits package is key to attracting and retaining top talent. Employee benefits have become an essential part of any competitive compensation package. What do you want to achieve with the employee benefit package 2. Payroll taxes 2.

Benefits Package 105

Benefits Package 401(k) Employee Benefits Disability Insurance 105

Proskauer's Employee Benefits & Executive Compensa

OCTOBER 25, 2022

On October 21 st , the IRS released a number of additional inflation adjustments for 2023, including to certain limits for qualified retirement plans. The table below provides an overview of the key adjustments for qualified retirement plans. Qualified Defined Benefit Plans.

Retirement Plan 52

Retirement Plan 401(k) Flexible Spending Account Flexible Spending 52

COMPackage

MARCH 28, 2024

There’s a big chance that some employees will not spend their own money for an ergonomic office chair or an adjustable-height desk, so it’s incumbent on your company to ensure your employees have access to these perks for free. These benefits are also great for cultivating loyalty among current employees.

Employee Benefits 52

Employee Benefits Retirement Plan Medical Hospitality 52

Best Money Moves

NOVEMBER 1, 2023

3 ways to improve your employee benefits communication. Use these 3 strategies to improve your employee benefits communication and help your team make the most of your benefits offerings. Even the most robust employee benefits programs can fall flat without clear communication.

Employee Benefits 98

Employee Benefits Benefits Package Retirement Plan Life Insurance 98

Insperity

JANUARY 2, 2020

It’s no secret that current and prospective employees want their employer to offer a retirement plan. Whether your company is looking for a new retirement plan provider or reviewing your current retirement benefits, the first thing you need to understand is one size does not fit all.

Retirement Plan 63

Retirement Plan 401(k) Payroll Employment 63

Achievers

FEBRUARY 2, 2021

The term “employee benefits” is used regularly, but often with a limited, traditional definition in mind. The traditional concept refers to legally mandated benefits plus a few voluntarily added by employers. What are employee benefits? . Employee benefits are non-salary compensation and perks.

Employee Benefits 236

Employee Benefits Family and Medical Leave Act Employee Recognition Voluntary Benefits 236

Best Money Moves

DECEMBER 5, 2023

2024 Employee benefits trends: Focus on employee wellbeing. The right benefits strategy is key to employee satisfaction. Here are the top 2024 employee benefits trends. Employee benefits are a driving force keeping your workforce satisfied. 4 Top 2024 Employee Benefits 1.

Employee Benefits 87

Employee Benefits PTO Financial Counseling Work From Home 87

McDermott Will & Emery Employee Benefits

APRIL 9, 2024

Provisions of the […] The post Webinar Replay: New Employee Benefits Requirements for Part-Time Employees, Independent Contractors appeared first on EMPLOYEE BENEFITS BLOG.

Employee Benefits 81

Employee Benefits 401(k) Employment Management 81

Pacific Prime

JULY 19, 2023

Small Businesses should include health insurance, a retirement plan, and paid time off in their employee benefits package. Employers should also be aware of the employee benefits that they must include, as required by law, such as workers’ compensation and unemployment insurance.

Employee Benefits 52

Employee Benefits Retirement Plan Workers’ Compensation Benefits Package 52

HR Bartender

SEPTEMBER 21, 2016

You mentioned defined benefits plans. I know one of your areas of expertise is in the area of retirement planning. Thinking about and planning for retirement can have a huge impact on well-being. Should HR consider retirement planning a part of their well-being programs?

Retirement Plan 129

Retirement Plan Employee Wellness Human Resources Pension 129

HR Digest

FEBRUARY 10, 2023

When you’re starting a new job , it can be overwhelming to learn about all the benefits that are available to you. But the more you know about the types of employee benefits offered by your employer, the better equipped you’ll be to make informed decisions about health care, retirement plans, and other important financial matters.

Employee Benefits 52

Employee Benefits Paid Sick Leave Disability Insurance Life Insurance 52

HR Professionals Magazine

MARCH 2, 2022

The post How Competitive is Your Company’s Retirement Plan? appeared first on HRProfessionalsMagazine.

Retirement Plan 52

Retirement Plan Employee Benefits 52

Best Money Moves

DECEMBER 7, 2021

Financial Wellness: The must-have employee benefit in 2022. If you aren’t incorporating financial wellness into your 2022 benefits strategy, your employees are missing out. The COVID-19 pandemic has had a long-lasting impact on your employees’ financial health. But not all of your employees are financially stable.

Employee Benefits 119

Employee Benefits Retirement Plan Finance Benefits Package 119

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 88

Health and Welfare Employee Benefits Flexible Spending Account Health Savings Account 88

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 84

Health and Welfare Employee Benefits Flexible Spending Flexible Spending Account 84

CorpStrat

JULY 20, 2022

A thorough employee benefit review is critical for every company, but particularly those that are considering entering and preparing for any M&A activity. Here’s a quick hit list of issues that should be reviewed and addressed: Have you benchmarked your Employee Benefits package against companies of similar size in your industry?

Employee Benefits 98

Employee Benefits Benefits Package Executive Compensation PTO 98

PeopleKeep

MARCH 27, 2024

There are often different eligibility requirements for employee benefits like health insurance , retirement plans, and paid time off (PTO). Employers and employees need to have a clear understanding of what constitutes an eligible employee and the requirements to qualify for specific benefits.

PTO 105

PTO Retirement Plan Health Insurance Insurance 105

Vantage Circle

SEPTEMBER 23, 2023

In today's tough job market, businesses need to attract and keep the best employees to succeed. In 2023, employee benefits are important for businesses. Welcome to “Employee Benefits Guide for 2023: What Employers Need to Know.” Why Are Employee Benefits Important?

Family and Medical Leave Act 59

Family and Medical Leave Act Employee Benefits 401(k) Employment 59

HR Lineup

FEBRUARY 14, 2023

NFP is a leading provider of employee benefits, wellbeing, and insurance solutions. Their mission is to help companies attract, retain and engage their employees through comprehensive and innovative benefits programs. One of the key benefits of working with NFP is the personalized approach they take to employee benefits.

Employee Benefits 52

Employee Benefits Flexible Spending Account Disability Insurance Retirement Plan 52

HR Digest

APRIL 4, 2023

One way they are doing this is by offering non-traditional employee benefits. These benefits go beyond traditional healthcare and retirement plans and can range from flexible work arrangements to company-sponsored vacations. What are non-traditional benefits? Pros of Non-Traditional Employee Benefits: 1.

Employee Benefits 69

Employee Benefits Retirement Plan Healthcare Work From Home 69

Health Consultants Group

OCTOBER 1, 2021

Reconsidering your employee benefits priorities. As your employees settle into their post-pandemic workflow, you’re probably noticing that they don’t want business-as-usual. After a year of unprecedented medical and personal experiences, employees can easily detect holes in their benefits plans. Contact Us.

Employee Benefits 86

Employee Benefits Family and Medical Leave Act Flexible Spending Account Health Savings Account 86

McDermott Will & Emery Employee Benefits

JANUARY 3, 2024

Beginning in 2024, employers and plan sponsors will need to implement new minimum eligibility rules, enacted by the SECURE and SECURE 2.0 Acts, that significantly expand eligibility for long-term, part-time employees to participate in employer-sponsored retirement plans.

Retirement Plan 91

Retirement Plan Employee Benefits Employment 401(k) 91

McDermott Will & Emery Employee Benefits

APRIL 4, 2024

which was passed in December 2022, includes more than 90 provisions affecting US retirement plans, many of which are specifically aimed at enhancing savings opportunities […] The post A Q&A and More Delay: IRS Begins to Issue Clarifying Guidance on SECURE 2.0 Provisions appeared first on EMPLOYEE BENEFITS BLOG.

Retirement Plan 60

Retirement Plan Employee Benefits 401(k) 60

CorpStrat

JANUARY 17, 2023

Many employee benefits are subject to annual dollar limits that are adjusted for inflation by the IRS each year. The following commonly offered Employee Benefits are subject to these limits: High deductible health plans (HDHPs) and health savings accounts (HSAs). 401(k) plans. LINKS AND RESOURCES.

401(k) 52

401(k) Employee Benefits Flexible Spending Account Health Savings Account 52

Benefit Resource Inc.

AUGUST 2, 2023

While the immediate cost-saving benefits may seem tempting, slashing employee benefits can have detrimental long-term effects on the workforce and the organization. The Importance of Benefits in the Big Picture Employee benefits play a crucial role in shaping the overall well-being and success of an organization.

Employee Benefits 52

Employee Benefits Health and Welfare Comprehensive Benefits Employee Loyalty 52