Beware this one downside to automatic escalation
There’s no shortage of benefits from adding an automatic enrollment feature to your 401(k). But be aware of this one pitfall.
Employee Contribution
Big increase for IRS 2023 HSA, HDHP limits
Surging inflation is impacting the benefits you may offer employees in 2023, including health savings accounts (HSAs). In Rev. Procedure 2022-24, IRS adjusted next year’s thresholds for HSAs and high-deductible health plans (HDHPs). And because the updated amounts are so much higher than what they are for this year, you need to let Payroll and […]
Do stop-loss policies qualify as assets? The DOL weighs in
When employers go the self-insurance route, many also purchase stop-loss insurance to protect themselves from staggering health claims. So do stop-loss policies count as plan assets?
Finally, some good news: Employers contributing to 401(k)s again
A sign of recovery is here: 401(k) programs are now returning to their pre-crisis levels, thanks to an increase in company matching.
IRS: Employee leave donations can be made to Ukraine
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 […]
Major Obamacare deadline sneaking up on us — do you have a plan yet?
We’re almost halfway through 2015 … has your company been keeping track of employee healthcare expenses?
Mark Cuban online pharmacy could be game changer for employee drug benefits
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 […]
New federal payroll tax holiday a go, confirms IRS in new notice
Mere days before the new payroll tax holiday was set to kick in, IRS finally weighed in. IRS Notice 2020-65 gives employers their marching orders … well, sort of. You’re responsible for collecting – and ultimately paying back – any deferred payroll taxes established by President Trump in a presidential memorandum. Unfortunately, the notice came […]
The 401(k) facelift: Has your plan made these tweaks?
It’s no longer about simply getting workers to enroll in the company’s 401(k) plan. These days, an increasing number of firms are altering plan options to help workers ramp up contribution levels.
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