CFOs and benefits professionals can only do so much to influence employees to invest in a company 401(k) plan. So-called influencers are often needed to spur folks to enroll or up their contributions so they’re not caught flat-footed in retirement. Believe it or not, the most investment-savvy cohort may be Generation Z. When you consider […]
Heads up, Benefits and Payroll professionals: Employee contribution limits to their retirement accounts are higher for 2024. Most of the increases are $500 bumps, similar to most years, but a few major changes are in store as a result of congressional action. Starting January 1, the Setting Up Every Community for Retirement Enhancement Act (aka […]
Employer health insurance plan costs are set to spike for next year. All the experts are in agreement on that point. The only question is just how much higher coverage will cost. Employee benefits consulting firms Mercer and Willis Towers Watson expect companies’ plans will surge by 6.5% in 2024. Health insurance costs last increased […]
Environmental, social and governance (ESG) ratings of companies was never as popular as many in the media made it out to be. And the more the public and investors come to learn about ESG, the less they like it. CEOs and CFOs are taking note. Perhaps the No. 1 proponent of ESG is Larry Fink, […]
Could it be time for a review of your employee severance agreements? Right now Twitter’s experiencing major pitfalls from having them, thanks to a class action lawsuit accusing it of violating its own severance policy. Laid-off workers are claiming the company’s severance agreement plan is a benefit protected under the Employee Retirement Income Security Act. […]
Year after year, surveys show about half of all employees don’t tap their allotted personal time off (PTO). While some companies allow for pushing a generous number of hours to the following year, foregoing time away isn’t the best scenario for workers and their companies. The Pew Research Center finds just 48% of workers are […]
Employee experience – including employee mental health – has become a higher priority for many organizations, according to research by Gartner. The Great Resignation that was triggered by the pandemic resulted in companies competing to deliver a best-in-class employee experience to retain their talent. Meanwhile, the ongoing cost of living crisis has increased employee burnout […]
We know you’re tired of hearing about the pandemic, but this is pretty big. The Biden administration recently announced that the COVID-19 public health emergency and national emergency will officially end May 11, 2023. Because this will affect your company’s group health benefits plan, here’s what experts are recommending: Ensure you have records that demonstrate […]
If your company’s employees are like most, they’d score a big fat F on a financial literacy test. Every year, the Teachers Insurance and Annuity Association of America (TIAA) and the Global Financial Literacy Excellence Center (GFLEC) quiz working adults on their knowledge of investment choices, saving money, insurance options, the stock market and so […]
