International Foundation of Employee Benefit Plans

OCTOBER 25, 2022

The post PBGC Special Financial Assistance Final Rule: Permissible Investments appeared first on Word on Benefits. American Rescue Plan Act (ARPA) Compliance Employee Benefits Investments Multiemployer PBGC Pensions Retirement U.S.

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International Foundation of Employee Benefit Plans

NOVEMBER 8, 2022

Multiemployer pension plans that intend to apply for SFA from the PBGC should note the schedule for reviewing applications and may want to consider submitting a lock-in application. American Rescue Plan Act (ARPA) Employee Benefits MPRA Multiemployer PBGC Pensions Regulatory Retirement U.S.

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Proskauer's Employee Benefits & Executive Compensa

FEBRUARY 13, 2023

As previously discussed , the Pension Benefit Guaranty Corporation (the “PBGC”) issued final regulations in July 2022 for plans that receive special financial assistance (“SFA”) under the American Rescue Plan Act of 2021 (“ARPA”).

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Proskauer's Employee Benefits & Executive Compensa

OCTOBER 17, 2022

A hotly debated (and litigated) issue for multiemployer pension plans in recent years has been the appropriate interest rate to determine a multiemployer pension plan’s liabilities when calculating the plan’s underfunding for withdrawal liability purposes.

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Proskauer's Employee Benefits & Executive Compensa

JANUARY 31, 2023

One of the many changes is an end to the annual indexing of the PBGC’s variable rate premium for single-employer pension plans, which is the portion of the single-employer plan premium that is based on a plan’s unfunded vested benefits (as determined using the PBGC’s premium funding rules).

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Proskauer's Employee Benefits & Executive Compensa

AUGUST 20, 2021

This episode of The Proskauer Benefits Brief is the second of our three-part series analyzing the Pension Benefit Guaranty Corporation (PBGC) guidance on the new special financial assistance program for troubled multiemployer pension plans that was created by the American Rescue Plan Act (ARPA).

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International Foundation of Employee Benefit Plans

MARCH 14, 2023

A new rule proposed by the Pension Benefit Guaranty Corporation (PBGC) would increase the certainty of withdrawal liability determinations for multiemployer benefit plans and likely help prevent withdrawal liability disputes from going to arbitration and litigation, PBGC officials say.

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Proskauer's Employee Benefits & Executive Compensa

SEPTEMBER 13, 2021

This episode is the final installment of our three-part series on a new special financial assistance program created by the American Rescue Plan Act of 2021 for troubled multiemployer plans and the interim guidance issued by the Pension Benefit Guaranty Corporation regarding the program.

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Proskauer's Employee Benefits & Executive Compensa

AUGUST 3, 2021

This episode of The Proskauer Benefits Brief is the first of our three-part series analyzing the Pension Benefit Guaranty Corporation (PBGC) guidance on the new special financial assistance program for troubled multiemployer pension plans that was created by the American Rescue Plan Act (ARPA). ROBERT PROJANSKY : Hello and welcome to the Proskauer Benefits Brief: Legal Insights on Employee Benefits and Executive Compensation.

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International Foundation of Employee Benefit Plans

JULY 8, 2022

Changes to the Special Financial Assistance (SFA) Program announced Wednesday by the Pension Benefit Guaranty Corporation (PBGC) will improve the ability of underfunded multiemployer defined benefit (DB) pension plans to.

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Proskauer's Employee Benefits & Executive Compensa

JANUARY 27, 2023

13, 2023), the court granted a motion to dismiss a pension plan participant’s claim that the plan was equitably estopped from recouping overpaid plan benefits. in overpaid benefits by reducing his future benefits. In Kanefsky v. Ford Motor Co. Plan , No.

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Employee Benefits

MAY 26, 2022

Marks and Spencer (M and S), Royal Mail and Co-op have committed to making their pension schemes ‘go green’ in 2022, through robust net zero targets. The Royal Mail Pension Plan and Co-op have both committed to 2050 targets. Uncategorised Pensions

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Employee Benefits

SEPTEMBER 5, 2022

The UK government has launched a consultation on potential changes to the NHS pension scheme , which could make it easier for retired and partially retired NHS staff to return to the workforce. The post Government launches NHS pension changes consultation appeared first on Employee Benefits.

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Money Talk

DECEMBER 22, 2021

Pension COLAs - Pension benefits for some retirees are also indexed for inflation. An example is pensions for federal government workers and military retirees and disabled veterans. a $59 increase for every $1,000 of benefits) in 2022.

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The Workcomp Writer

JUNE 3, 2022

The claimant requested that his average weekly wage be adjusted to include not only his hourly compensation of $36.78, plus health and welfare benefits at a rate of $8.80 per hour, plus various pension benefits that when totaled would have adjusted his AWW upward from $999.80

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Employee Benefits

JANUARY 18, 2022

Then, when they’re ready, they want to understand how to turn their pension savings into an income for life. Companies might feel that providing a generous pension scheme is the most effective way to discharge their obligation to look after employees in later life.

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Employee Benefits

OCTOBER 24, 2022

The pandemic and current environment has made some employees re-evaluate their work-life balance , says Arlene Wills, head of employee benefits at Mid Yorkshire Hospitals NHS Trust. We now have more choice and flexibility, and our wellbeing and benefits are now tailored to suit all needs.”.

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Employee Benefits

SEPTEMBER 28, 2022

Earlier this year, Deliveroo entered what it described as a ground-breaking agreement with the trade union GMB, which granted a number of benefits to its delivery teams, including a level of sick pay, but crucially without conceding that any statutory entitlement as workers arose.

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Employee Benefits

NOVEMBER 8, 2022

Prime Minister Rishi Sunak has appointed Laura Trott MBE as minister for pensions, after predecessor Alex Burghart officially held the role for less than one month. We urge the incoming pensions minister to listen to industry concerns about implementation of existing policies.

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Employee Benefits

FEBRUARY 17, 2023

Therefore, people’s pension savings will likely start catching up with the frozen Allowance. This could particularly affect those who never check the value of their pension or haven’t done so for some time. Assumes growth rate of 5% and excludes charges on the pension plans.

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Kollath CPA

JUNE 27, 2022

Take stock of any pensions, benefit plans, health savings accounts and other tax-favored health plans. The decision to close a business’s doors for good is never an easy one. However, it’s important to keep abreast of compliance requirements before you say goodbye.

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Proskauer's Employee Benefits & Executive Compensa

DECEMBER 21, 2021

Many multiemployer plans and their participants, contributing employers and unions certainly hope so, as they eagerly anticipate the issuance of a Pension Benefit Guaranty Corporation (“PBGC”) final rule that may answer the question for them.

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Employee Benefits

JANUARY 20, 2023

appeared first on Employee Benefits. Over the past few weeks, there have been an increasing number of social media posts and press articles about a bill currently passing through Parliament, with which the UK government has the potential to fundamentally change employment rights.

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Employee Benefits

DECEMBER 16, 2021

Workers employed by Aston Martin have threatened the car manufacturer with strike action over changes to their company pension scheme. Unite general secretary Sharon Graham explained that the union will back members if they decide to take industrial action to defend their pensions.

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Employee Benefits

FEBRUARY 16, 2022

At Ashurst, we closely consider the pension and benefits we offer and focus particularly on how we engage our people in these offerings to ensure they are of maximum benefit. Uncategorised Pensions

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Employee Benefits

JUNE 9, 2022

We offer certain voluntary benefits under a salary sacrifice arrangement. We think they should be able to select core pension benefit and we round up our lowest pay range to allow for a certain level of voluntary benefits to be selected. Uncategorised Voluntary benefits

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Proskauer's Employee Benefits & Executive Compensa

SEPTEMBER 22, 2022

As noted below, SRCs need not include any amount for pension benefits.).

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HR Professionals Magazine

JANUARY 31, 2022

Employer-sponsored retirement plans are divided into two major categories: defined-benefit plans and defined- contribution plans. As the names imply, a defined-benefit plan—also commonly known as a pension plan—promises a specified benefit amount at retirement. The benefit usually is defined via a plan formula based on the employee’s pay and/or years of service and the (guaranteed) benefit is payable for the employee’s lifetime. By Eddie Vaughn.

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Employee Benefits

JANUARY 26, 2022

The Work and Pensions Committee is calling for trials of automatic appointments with the Pension Wise service as part of its new ‘Stronger Nudge’ interventions. The post Early and multiple interventions will improve pensions engagement! appeared first on Employee Benefits.

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Proskauer's Employee Benefits & Executive Compensa

JULY 11, 2022

On July 8, 2022, the Pension Benefit Guaranty Corporation (“PBGC”) published its much anticipated final rule on the special financial assistance (“SFA”) available to certain troubled multiemployer plans under the American Rescue Plan Act of 2021 (“ARPA”).

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Employee Benefits

MAY 4, 2022

Almost half (46%) of defined contribution (DC) pension schemes are primarily driven by the aim to provide sufficient pension funds for employees to retire at a reasonable age, up from 29% in 2020, according to research by Aon. Uncategorised Pensions

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Business Management Daily

MARCH 14, 2022

In 1986 an amendment was added to the ADEA banning mandatory retirement at any age, regardless of any early retirement provisions in applicable employee benefit plans or seniority systems. Reducing compensation and benefits. An older gentleman comes in for a job interview.

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Business Management Daily

APRIL 1, 2021

It also included a paid and limited FMLA benefit when caring for children whose schools or daycares closed. The award included back pay, lost pension benefits and payment for emotional distress.

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Employee Benefits

MARCH 22, 2022

The need to support employees to engage with their pensions and retirement savings has never been more important. Many workplaces now provide financial wellbeing programmes to help their employees engage with their pensions and understand the choices to be made at retirement.

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HR Digest

FEBRUARY 20, 2020

Retirement plans for a person are valuable benefits that impact both the present as well as future lives of the employees. However, offering retirement benefits to an employee can be a complicated process. Why should an organization provide retirement benefits?

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