Latest revision: May 1998 Employees working more than 20 hours per week may enroll in the Section 125 flexible benefit plan. Initial enrollment must occur within the first 30 days of employment or during the annual enrollment period. opened. The flexible section 125 benefit plan is based on participation for one calendar year only (January …

Related practices and jurisdictions Thursday, January 30, 2020 For 2020, legislation enacted in December 2019 significantly increases the penalties imposed by the Internal Revenue Code (the Code) for the late filing of certain notices and reports on employee benefit plans. Additionally, a final rule issued by the Department of Labor (DOL) makes inflation adjustments to …

NEW YORK (PRWEB) January 06, 2020 NFP, a leading insurance broker and consultant providing property and casualty (P&C) solutions, employee benefits, retirement solutions and individual solutions, today announced the acquisition of Elective Benefit Services, Inc. (Advantage of your choice) in a transaction that closed on June 12, 2019. Choice of service, based on Waterloo, Ontario, …

A new customer center is expected to open at Nottingham City Council’s Loxley House in January, combining services such as housing assistance and social services. The Nottingham Revenues and Benefits service, which provides support for housing assistance services and municipal taxes, currently based at Nottingham Central Library on Angel Row, and Housing Assistance, based on …

CARPINTERIA, Calif.– (BUSINESS WIRE) – Marina armbruster, founder of Educational services in Sacramento, is happy to announce its affiliation with Plan members’ securities company. As a new member of the Plan Financial center, School Benefit Services will expand retirement and investment planning and financial education opportunities for community educators. Sacramento domain, in particular Yuba, Sutter …

A commitment to continuing education is an important investment in the future. This is especially true for a student covered as a child annuitant under the Survivor Benefit Plan, or SBP. The plan’s children’s pension payments generally end when beneficiaries turn 18. But if you are a recipient attending a full-time educational institution – in …

The ERISA Consultants at the Retirement Learning Center Resource Desk receive regular calls from financial advisers on a wide range of technical topics related to IRAs, Qualified Pension Plans, and other types of Retirement Savings Plans. We bring you Case of the Week to highlight the most relevant topics affecting your business. A recent call …

While all financial institutions (FIs) operate on customer relationships, trust and loyalty can play a larger role for credit unions. According to the PYMNTS Credit Union Innovation Index, 65% of credit union members said they chose a credit union (CU) as their primary because they trusted it, compared to 45% of non-members from CU who …

SoFi added 529 contributions to its benefits program, SoFi at Work. Employees will now be able to link their existing 529 plans to SoFi’s portal and make contributions from their paycheck. Additionally, employers may allow monthly contributions to the plans. The personal finance company also plans to release a selection tool that will allow employees …

SUMMIT OF LEE, Mo., August 8, 2019 / PRNewswire / – GEHA (Government Employees Health Association) announced today its selection by the United States Office of Personnel Management (OPM) as the exclusive carrier of two new Federal Employee Health Benefit Plans (FEHB) under the Compensation Plan Contract (IBP). After a competitive process, GEHA was chosen …

For the good business owner, a defined benefit plan can be the path to a very comfortable retirement. The problem is that far too few business owners are aware of the tax and retirement benefits associated with a defined benefit plan. According to CNN Money, the number of companies with defined benefit plans is only …

The companies on our list of employee benefit services companies have grown significantly over the past six years. The 35 companies on the full digital list employed a total of 1,318 benefit professionals as of April 1, up 4.4% from a year ago. And over the past six years, that number has grown by over …

“Compass’s wide range of consulting services will be a huge asset to our HR service providers.” HOPKINTON, Mass. (PRWEB) May 30, 2019 PrismHR, the Leading HR Technology Software Powering Payroll, Benefits, and HR for Small and Medium Businesses Across the United States, Today Announced Compass Consulting Group, LLC Now Offers its Plan Design Programs benefits …

SAN FRANCISCO, May 2, 2019 / PRNewswire / – Light on health, the most efficient and compelling quote, underwrite and proposal platform for the employee benefits industry, today announced a unique integration with the global financial services provider, the Principal Financial Group® to streamline the quoting, underwriting and renewal processes for insurance plan membership and …

IRS regulations limit the extent to which pension plan participants can benefit from these plans. These limitations reduce the amount of benefits that some highly paid employees are able to accumulate from the amounts they might otherwise accumulate in the absence of the limitations. The Excess Benefits Plan was created in 2000 specifically for employees …

Diving brief: Employers continued to see moderate growth in health benefit costs of 3.6% in 2018, but projections of a 4.4% increase this year would outpace the consumer price index and employee revenue growth, a new Mercer Poll warns. Medium and large companies were better able to control their costs than small companies. When asked …

PLANADVISER named HANYS Benefit Services one of its Top 100 Pension Advisors for 2019. PLANADVISER’s Top 100 Pension Advisors is an annual list of pension advisors and advisory teams at the top of their peer groups. respective in terms of assets under advice or number of pension plan clients, including defined contribution, defined benefit and …

With declining unemployment rates, wage growth is increasing and employers have vacancies, workers now have leverage, confidence and options. For banks competing for applicants, a full package of benefits can tip the scales for a candidate considering multiple offers. Chuck coldwell A tighter job market requires an organization to market itself as an employer of …

(Rito Smith / US Air Force) Retired military personnel, their spouses, and perhaps 80 percent of the 320,000 survivors already able to collect benefits under the military survivor benefit plan, can take comfort in a recent report on the program. think tank RAND Corp. The 175-page report “An Evaluation of the Military Survivor Benefit Plan” …

Each year, a number of employee benefit plans are audited by the Internal Revenue Service (IRS) and the Department of Labor (DOL) to verify their compliance with the laws and regulations over which these agencies have enforcement authority. Agencies particularly focus on compliance issues that present the greatest potential risk to the greatest number of …

Blockchain isn’t just for Bitcoin. And the credit unions are taking note. Although blockchain is the technology behind the digital currency the headlines around the world, it can be used for a lot more. And while credit unions have only embraced blockchain in recent years, others are. At present, the benefits of blockchain are still …

DRESHER, PA., January 2, 2018 / PRNewswire / – Ascensus, a technology services provider that helps more than 7 million Americans save for the future, has acquired Dedicated Defined Benefit Services (“Dedicated DB”). The defined benefit plan design, administration and advisory firm will immediately become part of the TPA Solutions business line from Ascensus within …

Springfield, MO, October 5, 2011 – (PR.com) – Group Benefit Services (GBS) today announced that they successfully completed a year in which their claims processing time was less than one (1) day . GBS initially achieved its goal of processing all complaints within an average of less than a day in October 2010. Since then, …

Shelley Hughes has been named HUB International’s newest employee benefits consultant. Ranked among the top 10 global brokers, HUB International offers a wide range of property, risk management, high personal net worth, and investing and wealth management products across North America. Prior to joining HUB, Shelley was a consultant for a large national brokerage house …

MetLife has added credit monitoring services to its group legal services benefit plan as identity theft issues increase. Employers with 1,000 or more employees who use MetLaw will have access to the new credit monitoring service, which is provided by CyberScout, an identity theft service provider. The Advantage will scour the Internet and major credit …

NEW YORK–(COMMERCIAL THREAD) – As concerns about identity theft continue to be a priority for employees, MetLife has added credit monitoring services to its group benefits plan for legal services, MetLaw®, which is provided by Hyatt Legal Plans, a MetLife company. The new credit monitoring service, available to employers of 1,000 or more employees, strengthens …

What is a defined benefit plan? A defined benefit plan is an employer-sponsored pension plan in which employee benefits are calculated using a formula that takes into account several factors, such as length of employment and history. salaries.The firm is responsible for the investment and risk management of the plan and will typically hire an …

What is a target benefit plan? A target benefit plan is similar to a defined benefit (DB) plan in which contributions are based on projected retirement benefits. However, unlike a defined benefit plan, the distributions that participants in a target benefit plan receive at retirement are based on investment performance and are therefore not guaranteed. …

There was a time when, after 25 or 30 years of hard work for your employer, you could expect to be rewarded for your loyalty and hard work with a golden watch and a constant flow of checks throughout your retirement. . But times have changed and these regular checks, thanks to a defined benefit …

As Chisholm Public Schools and communities in Hennessey continue to mourn the loss of longtime Chisholm teacher John Matousek, several occasions are being planned to commemorate Matousek and benefit his family and selected charities. Matousek, who had been teaching math at Chisholm High School since 1997, died in a head-on collision involving a driver fleeing …

COLDWATER, Mich., Feb. 7, 2017 / PRNewswire / – Infinisource Benefit Services Announces the Addition of a Cloud-Based Solution, the POP / ERISA Document Generator for Brokers and Agents. It allows brokers to create and print full and complete Premium Only Plan and ERISA documents from an online portal. This new tool helps brokers keep …

Patrick Shanahan / University photography Gordon Barger, Cornell’s new Senior Director of Benefits Services and Administration. Gordon Barger, deputy director of human resources at the Metropolitan Museum of Art (MMA), was appointed senior director of benefits services and administration at Cornell in mid-December. Barger succeeded Paul Bursic, who retired from Cornell after leading Benefit Services …

CHARLOTTE, North Carolina – (COMMERCIAL THREAD) – AmWINS Group, Inc. (“AmWINS”), a global distributor of specialty insurance products and services, today announced the acquisition of Group Benefit Services, Inc. and GBS Payroll Plus, Inc. ( collectively, Group Benefit Services, or “GBS”), one of the largest and most respected third-party employee benefits administrators in the Mid-Atlantic …

Photo: Getty Images Designing a comprehensive benefits plan today can be like putting together a jigsaw puzzle. While traditional health insurance products provide the main elements, discounted benefit plans can be a cost effective way to round out the picture. The last few years have seen a steady growth of these regimes, which historically have …

Question: I have collected social security by direct deposit for years. This month, on my bank statement, instead of saying “Social Security Administration”, it says “Federal Benefit Credit”. The amount is the same, but I am worried that my account information is wrong or that I am receiving benefits from someone else or that this …

Sponsors and administrators of employee benefit plans can save time selecting an audit firm and evaluating the quality of their services by writing a detailed request for proposal (RFP). Consider these tips offered by the AICPA’s Employee Benefit Plan Audit Quality Center: P Provide a brief description of the mission. Describe why the RFP is …