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 variable benefit plan? A variable benefit plan is a type of pension plan in which the payout changes based on the performance of the plan’s investments. 401(k) plans are an example of a variable benefit. Key points to remember A variable benefit plan refers to a type of qualifying plan, such as …

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 …