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Dear (Contact First Name),
Is your firm equipped for compliance requirements for 2014 and beyond?
For more information contact us: Willwerth, Caven & Associates.
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Employer Ordered To Pay Nearly $100,000 In Penalties - COBRA News from OnQue Technologies
In this case, the U.S. Court of Appeals approved the assessment of nearly $100,000 in penalties and attorney's fees against an employer who failed to provide a COBRA election notice, a copy of the Summary Plan Description (SPD), and the option to obtain a conversion insurance policy.
What happened in this lawsuit: Linda Brown was employed by Aventis Pharmaceuticals, Inc. for 14 years when she took a six-month disability leave. When she failed to return to work at the end of this leave, she was terminated. Aventis sent Brown a letter on November 15, 2000 informing her that the effective date of her termination was October 29, 2000 and that she would receive further information regarding her benefits. However, no benefits information was forthcoming, even after Brown contacted Aventis' human resources department requesting it. Read More
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Americans delaying dental care
Some consumers trying to save a few bucks in the poor economic climate have an unfortunate solution: delaying dental care.
More than one in three American adults (36 percent) have delayed or will delay dental care due to the uncertain U.S. economy and their lingering fears about their current financial situation, a survey has found.
The survey of more than 1,000 adults-conducted by ORC International and commissioned by Aspen Dental-also found that nearly half (45 percent) don't currently have dental insurance, an issue even more significant among those with an annual income below $35,000 (61 percent). Read More
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Fewer employers match 401(k) contributions
The number of companies making a match on their 401(k) plans has dropped by 7 percent since 2009, driven by the stock market crash of 2008 and the recession, a survey has found.
Because of the hard economic times, companies have looked for ways to cut expenses and increase profits, and many have chosen to do that by cutting back on their contributions to employee retirement accounts.
The 401k Performance Survey, conducted by American Investment Planners LLC, found that about 5 percent of 401(k) plans, or 13,811, stopped matching in 2010. An additional 2 percent stopped matching in 2011. Read More
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