| ...from the HR Perspective |
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| Human Resource Update | September 2013 |
Fall Clean-Up
We all know what Spring Cleaning means. Well, now is the time for the benefit program Fall Clean-Up! Those of us whose companies sponsor calendar year based benefit plans are well familiar with the Form 5500 due date of October 15th (assuming an extension was requested.) We now have the Health Insurance Marketplace notice that must be distributed to employees by October 1st. (Being the astute professional you are, you may have just noticed I have used the term "Health Insurance Marketplace" rather than Health Insurance "Exchange." That apparently is the DOL's preferred term now.)
Healthcare Notice - Due No Later Than October 1, 2013
The Patient Protection and Affordable Care Act (aka the PPACA, the ACA or Obamacare) has occupied the headlines and our minds for a while now. The Act requires that all employers must provide all employees a notice about available healthcare coverage under Federal or State run Health Insurance Marketplace.
What Companies Must Provide the Notice
In this case all employers means all employers subject to the Fair Labor Standards Act*.The requirement includes hospitals and residential care facilities for the sick, aged, mentally ill or disabled, schools for mentally or physically disabled or gifted children, preschools, elementary and secondary schools and institutions of higher learning, as well as local, State and Federal government agencies. If a company has only one employee, that employee must get the notice.
No Fine For Non-Compliance
Some employers have yet to send the notice to their employees, either feeling the notice requirement does not apply to them, or they just haven't gotten around to it. Others may feel that as there is no fine for failure to provide the notice, there is no need to do so (the DOL confirmed this on Friday the 13th - seems like an appropriate day.)
Who Gets the Notice
Remember to provide all new employees with the notice when they are hired, and put October 1st on your already filled compliance calendar as a new notice must be distributed each year. Some organizations that have Open Enrollment periods may have decided to include the notice with the Open Enrollment package. If that package goes out after October 1st, that organization will not be in compliance.
Minimum Notice Information
The notice to inform employees of coverage options must include information regarding:
· the existence of the new Health Insurance Marketplace (Marketplace),
· contact information and description of the services provided by a Marketplace,
· information that the employee may be eligible for a premium tax credit under section 36B of the Code if the employee purchases a qualified health plan through the Marketplace, and
· a statement informing the employee that if the employee purchases a qualified health plan through the Marketplace, the employee may lose the employer contribution (if any) to any health benefits plan offered by the employer and that all or a portion of such contribution may be excludable from income for Federal income tax purposes.
There are two basic types of notices, one if your firm does not offer healthcare and another if it does. The DOL has prepared sample notices for organizations with:
no healthcare plan: http://www.dol.gov/ebsa/FLSAwithoutplans.doc
a healthcare plan in place: http://www.dol.gov/ebsa/FLSAwithplans.doc
Do Not Forget COBRA
If your organization must provide COBRA coverage, the COBRA notice must include mention of the Marketplace: http://www.dol.gov/ebsa/modelelectionnotice.doc
Providing Internet Access or Printed Materials
It is our understanding that if an employee does not have access to the internet, you must provide internet access or provide any information the employee could have obtained in printed form about or related to the Marketplace
*Evey company with two employees and at least $500,000 of annual sales, and certain healthcare or healthcare related facilities. Companies that engage in interstate commerce are included no matter the amount of revenue. Basically, it really means all employers as the FLSA's definitions of interstate commerce cover just about every type of business. For example, a cashier or waitress who uses an electronic device which authorizes a credit card purchase is considered to be engaged in interstate commerce. Please look at this DOL website, take the test all the way to the end. You may be surprised: http://www.dol.gov/elaws/esa/flsa/scope/screen24.asp
Form 5500 - Calendar Year Plans - Due October 15, 2013
If you have a calendar year benefit plan that is required to file a Form 5500, the latest you may submit the Form is October 15, 2013. Hopefully you have properly filed for the extension. To determine if you must file a Form 5500 for your benefit plan check here: http://www.dol.gov/ebsa/pdf/2012-5500inst.pdf Page 3 contains a list of pension and welfare plans that do not have to file (such as welfare plans with fewer than 100 participants that may be unfunded, fully insured, or a combination of insured and unfunded.) If you did not file for an extension, please call us.
Electronic filing is mandated. A paper Form 5500 will not be accepted.
All of this makes Spring Cleaning our homes seem like an easy, or at least uncomplicated task. As always, if you would like assistance with either of the above, or some additional information, please call: 908-689-4200.
Sincerely,
Michael F. Yates,
President
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If you find value in this newsletter please let us know. Feel free to call me with a comment and/or ask a question at any time (908-689-4200) or send me an email (myates@mfyco.com). We offer this timely information as another benefit of your relationship with our company. If you feel a friend or colleague would benefit from receiving our newsletter, please feel free to forward a copy.
You can view all of our newsletters by clicking the 'newsletter archives' link at our company website www.mfyco.com. |
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Required Employer 401(k) and 403(b) Disclosures
On July 22, 2013, the U.S. Department of Labor (DOL) released Field Assistance Bulletin 2013-2 (FAB 2013-2). FAB 2013-2 grants employers that sponsor participant-directed 401(k) and 403(b) plans the ability to delay this year's disclosure of annual investment-related information to plan participants and beneficiaries. Plan sponsors were required to provide the original notice by August 30, 2012. The DOL regulations require that the notice also be distributed "at least annually thereafter", so that each annual notice would have to be distributed within 12 months of distribution of the prior year's notice.
Based on criticism that an August due date does not correlate with any other annual participant disclosures for calendar-year retirement plans, the DOL is permitting plan sponsors a one-time delay in distributing the annual notice. For 2013, the plan sponsor may wait up to 18 months from the date of distribution of the prior notice to distribute the new annual notice. This delay will allow plan sponsors to put the annual notice on the same schedule as other annual participant disclosures, such as notices for Qualified Default Investment Alternative or safe harbor status.
The DOL recognizes that some plan sponsors may have already prepared or mailed notices in anticipation of this August 2013 deadline, so the FAB also permits employers who do not take advantage of this relief during 2013, the same 18-month period for the 2014 annual notices.
Although most third-party administrators and vendors prepare these annual notices for plan sponsors, plan sponsors should keep in mind that the notice is their obligation and not the vendor's. Plan sponsors should carefully review any disclosure notice prepared by their third-party administrators and vendors to ensure that it is accurate and meets all legal requirements.
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Invitation to MFYCO Facebook
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Patient Protection and Affordable Care Act's
Fulltime Worker Definition May Change
On June 19, 2013 Sen. Susan Collins, R-Maine.and Sen. Joe Donnelly, D-Ind., introduced the 40 Hours Is Full Time Act of 2013 (S. 1188), which would change the Patient Protection and Affordable Care Act (PPACA) law's definition of a full-time worker from one who works 30 hours to one who puts in 40 hours. In addition, House Rep. Todd Young, R-Ind., introduced the Save American Workers Act (H.R. 2575) on June 28, 2013 which also proposes scrapping the 30-hour workweek definition and restoring the traditional definition of a full-time employee to 40 hours a week.
We'll keep you posted on the outcome. |
We invite you to share our newsletter. (It's a lot to think about!)
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Determining Full-time Status under the
Patient Protection and Affordable Care Act (PPACA).
In Part One (June) of this three part article we covered the different ways of counting an employee's hours for determining status as ongoing employees. This part (Part Two) addresses the different ways of counting an employee's hours for determining their status as new, transition, variable hour and seasonal employees and Part Three, the final segment of this three part series, will cover the shared responsibility for employers regarding health coverage and the assessable payments.
Part Two
New Employees: Safe Harbor for Variable Hour and Seasonal Employees
If an employer only covers full-time employees, if determined, the employer may use both a measurement period of between three and 12 months (the same allowed for ongoing employees) and an administrative period of up to 90 days for variable hour and seasonal employees. However, the measurement period and the administrative period combined may not extend beyond the last day of the first calendar month beginning on or after the one-year anniversary of the employee's start date (totaling, at most, 13 months and a fraction of a month).
· Initial Measurement Period and Associated Stability Period
For variable hour and seasonal employees, employers are allowed to use an "initial measurement period" of between three and 12 months, as selected by the employer. The employer measures the hours of service completed by the new employee during the initial measurement period and determines whether the employee completed an average of 30 hour of service per week or more during the period. The stability period for such employees must be the same length as the stability period for ongoing employees. As in the case of a standard measurement period, if an employee is determined to be a full-time employee during the initial measurement period, the stability period must be a period of at least six consecutive calendar months that is no shorter in duration than the initial measurement period and that begins after the initial measurement period (and any associated administrative period).
If a new variable hour or seasonal employee is determined not to be a full-time employee during the initial measurement period, the employer is permitted to treat the employee as not a full-time employee during the stability period that follows the initial measurement period. This stability period for such employees must not be more than one month longer than the initial measurement period and, as explained below, must not exceed the remainder of the standard measurement period (plus any associated administrative period) in which the initial measurement period ends1.
An employee or related individual is not considered eligible for minimum essential coverage under the plan (and therefore may be eligible for a premium tax credit or cost-sharing reduction through an Exchange) during any period when coverage is not offered, including any measurement period or administrative period prior to when coverage takes effect.
1In these circumstances,allowing a stability period to exceed the initial measurement period by one month is intended to give additional flexibility to employers that wish to use a 12-month stability period for new variable hour and seasonal employees and an administrative period that exceeds one month. To that end, such an employer could use an 11-month initial measurement period (in lieu of the 12-month initial measurement period that would otherwise be required) and still comply with the general rule that the initial measurement period and administrative period combined may not extend beyond the last day of the first calendar month beginning on or after the one-year anniversary of the employee's start date.
· Transitional From New Employee to Ongoing Employee Rules
Once a new employee, who has been employed for an initial measurement period, has been employed for an entire standard measurement period, the employee must be tested for full-time status, beginning with that standard measurement period, at the same time and under the same conditions as other ongoing employees. Accordingly, for example, an employer with a calendar year standard measurement period that also uses a one-year initial measurement period beginning on the employee's start date would test a new variable hour employee whose start date is February 12 for full-time status first based on the initial measurement period (February 12 through February 11 of the following year) and again based on the calendar year standard measurement period (if the employee continues in employment for that entire standard measurement period) beginning on January 1 of the year after the start date.
An employee determined to be a full-time employee during an initial measurement period or standard measurement period must be treated as a full-time employee for the entire associated stability period. This is the case even if the employee is determined to be a full-time employee during the initial measurement period but determined not be a full-time employee during the overlapping or immediately following standard measurement period. In that case, the employer may treat the employee as not a full-time employee only after the end of the stability period associated with the initial measurement period. Thereafter, the employee's full-time status would be determined in the same manner as that of the employer's other ongoing employees.
In contrast, if the employee is determined not to be a full-time employee during the initial measurement period, but is determined to be a full-time employee during the overlapping or immediately following standard measurement period, the employee must be treated as a full-time employee for the entire stability period that corresponds to that stability period associated with the initial measurement period (even if that stability period begins before the end of the stability period associated with the initial measurement period). Thereafter, the employee's full-time status would be determined in the same manner as that of the employer's other ongoing employees.
Optional Administrative Period for New Employees
In addition to the initial measurement period, the employer is permitted to apply an administrative period before the start of the stability period. This administrative period must not exceed 90 days in total. For this purpose, the administrative period includes all periods between the start date of a new variable hour or seasonal employee and the date the employee is first offered coverage under the employer's group health plan, other than the initial measurement period. Thus, for example, if the employer begins the initial measurement period on the first day of the first month following a new variable hour or seasonal employee's start date, the period between the employee's start date and the first day of the next month must be taken in to account in applying the 90-day limit on the administrative period. Similarly, if there is a period between the end of the initial measurement period and the date the employee is first offered coverage under the plan, that period must be taken into account in applying the 90-day limit on the administrative period.
I n addition to the specific limits on the initial measurement period (which must not exceed 12 months) and the administrative period (which must not exceed 90 days), there is a limit on the combined length of the initial measurement period and the administrative period applicable for a new variable hour or seasonal employee. Specifically, the initial measurement period and administrative period together cannot extend beyond the last day of the first calendar month beginning on or after the first anniversary of the employee's start date. For example, if an employer uses a 12-month initial measurement period for a new variable hour employee, and begins that initial measurement period on the first day of the first calendar month following the employee's start date, the period between the end of the initial measurement period and the offer of coverage to a new variable hour employee who works full time during the initial measurement period must not exceed one month.
(Click here for Examples of New Variable Hour Employees with an Administrative Period and examples of New Variable Hour Employees with an Administrative Period and Six-Month Standard Measurement Period and Stability Period.)
Definitions
· Variable Hour Employee -A new employee is a variable hour employee if, based on the facts and circumstances at the start date, it cannot be determined that the employee is reasonably expected to work on average at least 30 hours per week. A new employee who is expected to work initially at least 30 hours per week may be a variable hour employee if, based on the facts and circumstances at the start date, the period of employment at more than 30 hours per week is reasonably expected to be of limited duration and it cannot be determined that the employee is reasonably expected to work on average at least 30 hours per week over the initial measurement period. As one example, a variable hour employee would include a retail worker hired at more than 30 hours per week for the holiday season who is reasonably expected to continue working after the holiday season but is not reasonably expected to work at least 30 hours per week for the portion of the initial measurement period remaining after the holiday season, so that it cannot be determined at the start date that the employee is reasonably expected to average at least 30 hours per week during the initial measurement period.
· Seasonal Employee -The Affordable Care Act addresses the meaning of seasonal worker in the context of whether an employer meets the definition of an applicable large employer. Specifically, §4980H(c)(2)(B) generally provides that if an employer's workforce exceeds 50 full-time employees for 120 days or fewer during a calendar year, and the employees in excess of 50 who were employed during that period of no more than 120 days were seasonal employees, the employer would not be an applicable large employer. Furthermore, §4980H(c)(2)(B)(ii) provides that, for this purpose, seasonal worker means a worker who performs labor or services on a seasonal basis, as defined by the Secretary of Labor, including (but not limited to) workers covered by 29 CFR 500.20(s)(1) and retail workers employed exclusively during holiday seasons. The statute does not address how the term "seasonal employee" might be defined for purposes other than the determination of applicable large employer status, such as the determination of whether a new employee of an applicable large employer is reasonably expected to work full time for purposes of determining the amount of any assessable payment under §4980H. Through at least 2014, employers are permitted to use a reasonable, good faith interpretation of the term "seasonal employee."
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Call: 908-689-4200 to contact a
MFYCO professional consulting associate.
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Connecticut Minimum Wage will Increase
Effective Jan. 1, 2014, the minimum wage in Connecticut will rise from $8.25 per hour to $8.70 per hour and will rise again effective Jan. 1, 2015 from $8.70 per hour to $9.00 per hour (Public Act No. 13-117).
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What would you like to see in a future issue?
Contact our office with your suggestions.
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Oregon Becomes First State to Require Bereavement Leave
Oregon will soon become the first state to require certain private sector employers to provide bereavement leave to their covered employees. The new law amends the Oregon Family Leave Act (OFLA) is effective January 1, 2014, applies to employers and employees already covered under that act and permits eligible employees to take up to two weeks of leave per death of a family member (spouse, same-sex domestic partner, child, parent, parent-in-law, grandparent, or grandchild, or the same relations of an employee's same-sex domestic partner or spouse), up to a maximum of 12 weeks in a 12-month period, in order to make arrangements necessitated by the death, to attend the funeral or memorial service, or to grieve.
To be eligible to take bereavement leave, employees must have worked for a covered employer for an average of 25 hours per week during the 180 calendar day period immediately preceding the date that the bereavement leave begins.
The bereavement leave must begin within 60 days of receiving notification of the death of a family member. Prior written notice to the employer is not required, but oral notice must be provided within 24 hours of beginning the bereavement leave and written notification must be provided to the employer within three days of returning to work. Unlike other types of leave under OFLA, an employer may not reduce the leave time if the employee fails to give notice.
If more than one family member dies during a one year period, the employer may not require the leave periods to run concurrently and employees may take bereavement leave at the same time as their spouse or domestic partner if both work for the same employer.
Recommendations for Affected Employers
Affected employers should review their handbooks, policies, procedures and practices and should consider training their managers and supervisors to ensure compliance with the new law. Please contact MFYCO if we can be of any assistance with the above.
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Self-Correction of Retirement Plan Errors
Part 3 of 3 Part Series
This final part of the series (click here for part 1, part 2) on the IRS' Self-Correction Program (SCP) contains the Frequently Asked Questions (FAQs) regarding the SCP. These FAQs provide general information and shouldn't be cited as legal authority. Because these answers don't apply to every situation, yours may require additional research. You can always contact MFYCO for additional information about the SCP or any of the other solutions available under the Employee Plans Compliance Resolution Program (EPCRP).
1. Is there a way to get IRS approval prior to audit regarding the appropriate way to correct a failure under the SCP?
2. What practices and procedures are required to be in place in order for a plan to be eligible for relief under the SCP?
3. Can a failure of the Actual Deferral Percentage (ADP), Actual Contribution Percentage (ACP), or Multiple Use tests in a profit-sharing plan be corrected under the SCP?
4. What are Insignificant Operational Failures under the SCP?
5. When correcting Significant Operational Failures, what actions must be taken by a plan sponsor by the end of the two-year correction period in order to be entitled to relief under the SCP?
6. If a vesting failure occurs in which the plan terms were not followed, should the plan sponsor use SCP or the Voluntary Correction Program to correct the problem?
Is there a way to get IRS approval prior to audit regarding the appropriate way to correct a failure under the SCP?
The SCP is a voluntary employer-initiated program that does not involve IRS approval; therefore, the IRS will not approve a plan sponsor's method of correction prior to audit. However, Revenue Procedure 2013-12 sets forth General Correction Principles designed to assist a plan sponsor in determining the appropriate method of correction for a failure. In addition, Appendix A and Appendix B of Revenue Procedure 2013-12 provide sample correction methods for certain failures. To the extent the plan sponsor applies the applicable correction method set forth in either of these appendices, the correction is deemed to be reasonable and appropriate correction for the failure. Upon examination, the IRS has the right to review whether the taxpayer made the correct determination that such failure(s) were eligible under the SCP as well as whether the correction method is acceptable.
What practices and procedures are required to be in place in order for a plan to be eligible for relief under the SCP?
The IRS is concerned that the practices and procedures of a plan foster compliance with the requirements of the Internal Revenue Code.
· Practices and procedures may be formal or informal.
· Practices and procedures must be routinely followed.
· Practices and procedures need not be in place for a specific failure (as long as practices and procedures exist that evidence an overall effort on the part of the plan sponsor to maintain the plan in compliance with the Internal Revenue Code requirements).
· A plan document alone is not sufficient to establish evidence of good practices and procedures.
· An example of an acceptable practice or procedure outside of the plan document is a checksheet routinely followed for determining whether an employee is a key employee for purposes of meeting the top-heavy requirements.
Can a failure of the Actual Deferral Percentage (ADP), Actual Contribution Percentage (ACP), or Multiple Use tests in a profit-sharing plan be corrected under the SCP?
Yes. A failure of the ADP, ACP or Multiple Use Tests is treated as an Operational Failure for purposes of EPCRS. Under IRC Sections 401(k) and (m), a plan sponsor has until the end of the plan year following the plan year in which an excess contribution or excess aggregate contribution was made to correct the failure; under the SCP, the two-year correction period applicable to Significant Operational Failures does not begin until the expiration of the statutory correction period. (Note that the Multiple Use Test has been repealed for plan years beginning after 12/31/01.)
What are Insignificant Operational Failures under the SCP?
The SCP permits plan sponsors to correct Significant Operational Failures within two years of the year in which the failure occurred, provided the other requirements of the SCP are satisfied. A number of factors are considered in determining whether Operational Failures are insignificant. These include, but are not limited to:
· whether other failures occurred during the period being examined (for this purpose, a failure is not considered to have occurred more than once merely because more than one participant is affected by the failure);
· the percentage of plan assets and contributions involved in the failure;
· the number of years the failure occurred;
· the number of participants affected relative to the total number of participants in the plan;
· the number of participants affected as a result of the failure relative to the number of participants who could have been affected by the failure;
· whether correction was made within a reasonable time after discovery of the failure; and
· the reason for the failure (for example, data errors such as errors in the transcription of data, the transposition of numbers, or minor arithmetic errors).
This is not an exclusive list and no single factor is determinative. Failures will not be considered significant merely because they occur in more than one year. In addition, the IRS will apply these factors in a way so as to not preclude small businesses from being eligible for the SCP merely because of their size.
When correcting Significant Operational Failures, what actions must a plan sponsor take by the end of the two-year correction period in order to be entitled to relief under the SCP?
In general, correction must be completed by the end of the two-year correction period in order for a plan to be entitled to relief under the SCP. However, where a plan sponsor substantially completes correction within the correction period, the plan sponsor will not lose the relief provided under the SCP merely because correction wasn't completed during the correction period. There are two circumstances under which correction is considered to have been substantially completed:
First, where (i) during the correction period, the plan sponsor is reasonably prompt in identifying the Operational Failure, formulating a correction method, and initiating correction in a manner that demonstrates a commitment to completing correction of the Operational Failure as expeditiously as practicable; and (ii) within 90 days after the last day of the correction period, the plan sponsor completes correction of the Operational Failure; and
Second, where (i) during the correction period, correction is completed with respect to 85% of all participants affected by the Operational Failure; and (ii) thereafter, the plan sponsor completes correction of the Operational Failure with respect to the remaining affected participants in a diligent manner.
In addition, a plan sponsor will not be considered to have failed to fully correct within the correction period where a plan sponsor takes reasonable action to find but has not located all current and former participants and beneficiaries to whom additional benefits are due. Reasonable action includes the use of Social Security letter forwarding program, a commercial locator service, a credit reporting agency or Internet search tools. If an individual is later located, the additional benefits must be provided to the individual at that time.
If correction of an Operational Failure is being implemented through adoption of a plan amendment, the required application for a determination letter must be submitted during the plan's next on-cycle year (or, earlier, if made in connection with the plan's termination), as determined under Revenue Procedure 2007-44, in order for correction to be considered to have been timely implemented. The amendment related to self-correction must be clearly identified in the determination letter application.
If a vesting failure occurs in which the plan terms were not followed, should the plan sponsor use SCP or the Voluntary Correction Program to correct the problem?
The decision of whether to use the SCP or Voluntary Correction Program to correct an Operational Failure depends on a number of factors, including: (1) the type of failure involved, (2) the practices and procedures under the plan, (3) whether, if the failure is an Operational Failure, it would be considered to be a Significant Operational Failure, (4) whether a Favorable Letter has been issued with respect to the plan, (5) whether the failure is an Egregious Failure, (6) when the failure is discovered, and (7) the amount of comfort the plan sponsor has with respect to the method used to correct the failure.
Although the SCP does not require the payment of a fee or notification to the IRS, it is limited to correcting Operational Failures that are not egregious. In addition, if the failure is a Significant Operational Failure, the Plan Sponsor must complete correction of the failure within two years of the year in which the failure occurred. Although a Plan Sponsor does not necessarily get assurance that the correction method employed under the SCP is acceptable to the IRS, the IRS has provided several examples of failures and acceptable correction methods under Appendix A and Appendix B in Revenue Procedure 2013-12. If a Plan Sponsor corrects a failure listed in Appendix A or Appendix B in accordance with the correction method set forth in the appendix, the Plan Sponsor may be assured that the IRS will find that correction method to be acceptable.
Page Last Reviewed or Updated by the IRS: 02-May-2013
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Retirement Plan Limits
All limits are based on the calendar year.
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2013 |
2012 |
2011 | |
Maximum Annual Defined Benefit |
$205,000 |
$200,000 |
$195,000 | |
Maximum DC Annual Addition ($$) |
$51,000 |
$50,000 |
$49,000 | |
Maximum 401(k) Deferrals |
$17,500 |
$17,000 |
$16,500 | |
Older EE Catch-Up Contribution |
$5,500 |
$5,500 |
$5,500 | |
Maximum Plan Compensation |
$255,000 |
$250,000 |
$245,000 | |
Highly Compensated Threshold |
$115,000 |
$115,000 |
$110,000 | |
Key Employee in a Top-Heavy Plan |
$165,000 |
$165,000 |
$160,000 | |
SSA Social Security Wage Base |
$113,700 |
$110,100 |
$106,800 | |
PBGC Maximum Monthly Guarantee* |
$4,789.77 |
$4,653.41 |
$4,500 | |
PBGC Maximum Annual Guarantee* |
$57,477.24 |
$55,840.92 |
$54,000 | |
Maximum DC Annual Addition (%) |
100% |
100% |
100% | |
Social Security Tax - Employee
Social Security Tax - Employer |
6.2%
6.2% |
4.2%
6.2% |
4.2%
6.2% | |
Medicare Tax |
1.45% |
1.45% |
1.45% | |
DC Plan Deduction Limit |
25% |
25% |
25% | |
Definition of Compensation for DC
Plan Deduction Limit |
Includes Deferrals |
*Life Annuity at age 65 |
about MFYCO ...
- Michael F. Yates & Company, Inc. can help you with a variety of services ranging from retirement plans to providing results-oriented survey instruments, training and development programs for your employees. Our products and services are intended to help you maximize the effectiveness of your Human Resources function.
- These products and services incorporate our years of experience so that you receive rapid results and exceptional value. From onsite consulting, to strategic business integration, to Web enablement, we understand how Human Resources can be applied to solve your problems and achieve your goals. As a result, we can help you get the most out of your investment and turn your most precious resource into a competitive advantage.
- We offer Consulting, Retirement Planning, Pension and 401(K) both qualified and non qualified Plans, Welfare Plans, Communications, Computer Systems, Executive Plans, Compensation, Mergers, Acquisitions, Divestitures and Other Services.
We offer a true and honest, Client Partnership.
Take the Michael F. Yates & Company, Inc. challenge! Call us today ... 908-689-4200
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How to Track Government Recovery Spending
"The Board shall establish and maintain...a user-friendly, public-facing website to foster greater accountability and transparency in the use of covered funds. The website...shall be a portal or gateway to key information relating to the Act and provide connections to other government websites with related information."
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Michael F. Yates & Company, Inc.
_________________
101 Belvidere Avenue
P.O.Box 7
Washington, NJ 07882-0007
908-689-4200
fax: 908-689-6300
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Our staff and firm are proud members
of the following professional organizations:
Society of Actuaries
American Society of Pension Professionals & Actuaries
Society for Human Resource Management
GAPS (Global Association Pension Services)
WorldatWork
American Management Association
National Federation of Independent Business
Better Business Bureau
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The site ("from the HR perspective" hence herein referred to as MFYCO.com) is made available by Michael F. Yates & Company Incorporated. All content, information and software provided on and through 'from the HR perspective' and MFYCO.com ("Content") may be used solely under the following terms and conditions ("Terms of Use".)
YOUR USE OF THIS WEBSITE CONSTITUTES YOUR AGREEMENT TO BE BOUND BY THESE TERMS AND CONDITIONS. IF YOU DO NOT AGREE TO THESE TERMS, YOU SHOULD IMMEDIATELY DISCONTINUE YOUR USE OF THIS SITE.
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"Human Resources provides the leadership, supportive services, guiding principles, policies, structures and standards needed for a quality organization to survive in today's business environment."
MFYCO PRIVACY POLICY
Michael F. Yates & Company, Inc.
believes strongly in protecting the privacy of its users.
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Concluding Note
As always, any statements regarding federal tax law contained herein are not intended or written to be used, and cannot be used, for the purposes of avoiding penalties that may be imposed under federal tax law or to market any entity, investment plan or arrangement. |
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