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Legislative/Regulatory Update |
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EBSA Makes 2011 5500 Information Available
Although it is probably not high on the list of priorities for plan administrators, the end of a calendar year usually means the start of the process of preparing 5500s. They may not be due right away, but it is always good to know what information you will have to provide when you eventually file them. The Employee Benefits Security Administration has made an informational copy of the 2011 5500 available, with instructions, on its website. Click here to continue. |
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IRS Updates Guidance on W-2 Reporting of Health Care Costs
The IRS has updated guidance on employer reporting of group health care costs via form W-2. Click here to continue. |
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State Benchmarks to Define "Essential Health Benefits" Under Affordable Care Act
In a surprising move, the Department of Health and Human Services will not impose a uniform definition of "essential health benefits"
(EHB) that individual and small group health insurance plans must provide in order to be offered on state exchanges starting in 2014. Click here to continue. |
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Health FSA Dollar Limit for 2013 Impacts Some Fiscal Year Plans Now
The Affordable Care Act limits salary deferrals that may be made under a health flexible spending account (FSA) to $2,500 in "taxable years" beginning on or after January 1, 2013. However Section 125 cafeteria plans that include health FSAs subject to the dollar limit, and that follow a fiscal rather than calendar plan year, need to take steps now to apply the dollar limit over their 2012 - 2013 plan year. Click here to continue. |
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Make Sure Employees Understand FMLA Calendar
The FMLA was created to allow employees time off to deal with their own serious health conditions or those of family members who need medical care. But the law carefully balances the rights of employees to keep their jobs while facing temporary hardships with the rights of employers to run their businesses. That's one reason the statute and the U.S. Department of Labor's (DOL) FMLA regulations give employers several options for calculating how much leave employees are entitled to at any given time. Click here to continue. |
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Class Dismissed
Arranging and financing long term care is an issue everyone will face yet no one wants to talk about it. However, following the Health Department's move to table the Community Living Assistance Services and Supports Act (CLASS), planning for long term care is becoming part of the national conversation - and that presents opportunities and challenges for employers. Click here to continue.
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Finding Success with Progress-Based Health Incentives
There is broad acceptance and understanding among employers that the health of their workforce can have an impact on the productivity and performance of the organization. That's why allowing higher financial incentives to promote employee health earned a prime spot in the landmark Patient Protection and Affordable Care Act (PPACA). Click here to continue. |
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Reducing the Cost of Retiree Health Care
Companies that provide health benefits to retirees have understandably become ever more cognizant of the costs involved in recent years. According to the U.s. Department of Health and Human Services, the cost of health care for a person over age 565 is, on average, 3.3 times higher than the cost of health care for a working-age person. Click here to continue.
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Companies Shake Up 401(k) Plans, Cut Fees
Companies are shaking up their 401(k) retirement plans, trimming lists of mutual fund offerings and shaving the fees workers pay as they prepare for new federal rules that will put more plan information in front of employees. Click here to continue. |
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Will 2012 be the Year of the 401(k) Fiduciary?
Between the new definition of "fiduciary" coming from the Department of Labor to the new Fee and Performance Disclosure Rules scheduled to go into effect this spring, 2012 is shaping up to be the Year of the 401(k) Fiduciary. How will this all turn out? Click here to continue. |
Retiring Minds Want to Know: Technology Helps Assess Retirement Benefits
Interactive online tools such as videos, chats and blogs designed to encourage employees to invest more than the default minimum in their 401(k) plans have become increasingly common. Click here to continue.
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Protecting Your Business Starts with Key Employee Life Insurance
Key employee plans cover the life of an employee who is critical to the success and profitability of your business. These plans are a simple, efficient way to help protect your business. Click here to continue. |
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Americans Want to Save for Retirement and Survivors
According to the new MetLife Survey of Baby Boomers and Members of Generations X and Y, nearly four in five survey respondents believe there is an obligation to provide for a surviving spouse if one dies unexpectedly. More than half believe inleaving something for younger children, typically enough to carry them through at least part of college. Click here to continue.
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Best of 2011: Risk and Compliance
How to prepare for the risk of turmoil? This past year gave companies plenty of opportunities to think about the unthinkable. Click here to continue. |
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Security Risks in 2012 Run Gamut, Hacktivism to Spam
It sounds straight out of some old cyberpunk novel: In the year 2012 terrorists scheme how to crash the electric grid, a cottage industry of malcontents thrives tapping out petty thievery commands and hackers in a rival nation get root inside U.S. networks. And yet, here we are. Click here to continue. |
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New Mandatory Posting by NJDOL
The NJ Department of Labor and workforce Development has issued a six-page notice that employers are required to post in areas accessible to employees. Click here to view a copy of the notice.
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