Your company could potentially save big bucks if employees buy their meds from a direct-to-consumer online pharmacy backed by NBA team owner, “Shark Tank” investor and billionaire internet entrepreneur Mark Cuban. Launched in January, the Mark Cuban Cost Plus Drug Co. sells generic prescription drugs – and only generic drugs – at the cost of […]
A workcation – also known as “bleisure” travel – is when employees extend their business trip plans to enjoy sightseeing and other recreational activities. Allowing it is a good way to boost morale and encourage more employees to hit the road on company business, according to Dr. Jim Castagnera. In fact, 43% of business trips […]
Besides the adoption of remote and hybrid work schedules, the approaches your peers are taking with paid leave benefits for their employees seem to be getting more flexible as well. According to a recent leave programs survey conducted by Mercer, employees are looking for benefits that support their needs and obligations outside of work. As […]
Your Payroll pros could be seeing some big legislative changes down the road to reduce the Social Security shortfall – especially since certain measures have significant bipartisan support. In fact, both Republicans and Democrats are mostly in favor of altering the taxable wage base for Social Security benefits and other changes, according to recent data […]
The ongoing Great Resignation is proof that an update to your compensation strategy may be in order. In fact, a study by Mercer found a majority of employers (70%) are re-evaluating their compensation and benefits because of challenges with attracting and retaining talent. Your peers are realizing that current and potential employees are looking for […]
Be aware: IRS is starting to send letters to companies asking them to self-examine their retirement plans before selecting them for an audit. The agency’s Employee Plans department recently announced a compliance pilot program beginning in June 2022. Plan sponsors could receive a letter saying that their retirement plan has been selected for review. As […]
Lately, senior management at businesses like yours has been feeling the need to get serious about diversity, equity and inclusion (DEI) and other socially responsible policies and practices. In a post on HRMorning.com, experts Stephanie Ashton and Monem Salam said this is how they’re putting their money where their mouth is: One way for employers […]
Beginning with the 2022 benefit plan year, there are some changes your Benefits people need to be aware of for filing Form 5500, Annual Return/Report of Employee Benefit Plan, and Form 5500–SF, Short Form Annual Return/Report of Small Employee Benefit Plan. On May 20, IRS, the Dept. of Labor (DOL), the Treasury Department and the […]
If your company has been thinking about creating a leave donation program to help the victims of Russia’s invasion of Ukraine, the IRS has just approved it. In Notice 2022-28, the IRS issued guidelines for employers wishing to adopt a leave donation program so their employees can provide aid to Ukrainian citizens/residents, refugees and individuals […]
