Fringe Benefit Group
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Senior Specialist 401k Recordkeeping T Bank N.A.
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July Business Services
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July Business Services
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Great Lakes Pension Associates, Inc.
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TPA Retirement Plan Consultant EPIC RPS (TPA/DPS)
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Defined Contributions Compliance Consultant Loren D. Stark Company (LDSCO)
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Retirement Planners and Administrators (RPA)
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New York City District Council of Carpenters Benefit Funds
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Pollard & Associates
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Defined Contribution Account Manager Nova 401(k) Associates
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Regional Sales Director (West) July Business Services
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Greenline Wealth Management
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Retirement Solutions Specialists
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IRS Fact Sheet FS-2024-13: Frequently Asked Questions About Work-Life Referral Services
Internal Revenue Service [IRS] [Guidance Overview] Apr. 16, 2024 "This fact sheet provides answers to frequently asked questions (FAQs) addressing the tax treatment of work-life referral services (sometimes also called caregiver or caretaker navigation services) provided by an employer to an employee. Under certain circumstances, the value of such referral services can be excluded from gross income and employment taxes as a de minimis fringe benefit." Tags: Misc. Benefits |
Reasons to Keep Corporate Fitness Centers Running in 2024
HR Daily Advisor Apr. 8, 2024 "[T]he value of the corporate fitness center has never been greater. And it can be an extraordinary benefit to employees in 2024.... [1] Human connection is key to employee retention.... [2] Younger employees are taking fitness much more seriously.... [3] Personalizing the employee experience means more than it used to." Tags: Misc. Benefits |
Voluntary Benefits: How These Products Work and Why They Boost Employee Wellbeing
OneDigital Apr. 3, 2024 "Voluntary benefits act as a shield against unexpected medical expenses and the mental, physical, and financial stresses associated with them. This makes them an incredibly effective way to promote employee wellbeing and provide your plan members and their dependents with an optional way to protect themselves from financial hardship." Tags: Health Plan Design • Misc. Benefits |
Employer Considerations for Lifestyle Spending Accounts
Arthur J. Gallagher & Co. Apr. 3, 2024 "While offering [a lifestyle spending account (LSA)] generally can be relatively simple from a legal standpoint, there are some important considerations employers should understand ... Because LSAs are not tax-advantaged benefits, employers ... are free to determine the dollar amount available, the benefits available for reimbursement, who will be eligible for the LSA, and the process for reimbursement of expenses." Tags: Misc. Benefits |
Employee Benefits Are Evolving for Remote Workers
Central Penn Business Journal Mar. 21, 2024 "[E]mployers are increasingly focusing on remote employees' physical and mental well-being. Wellness programs may include gym memberships, health resources, counseling services and stress management initiatives.... [S]ome companies are offering childcare support ... [including] financial subsidies, onsite childcare facilities and flexible scheduling to accommodate parental responsibilities." Tags: Misc. Benefits |
Food as Medicine: Using Healthy Food to Prevent Poor Health Outcomes and Better Manage Well-Being
Brown & Brown, Inc. Mar. 19, 2024 "Making it easier for employees to access quality food will not only address possible food insecurity issues, but also help with the prevention and management of chronic conditions.... Creating a work environment conducive to healthy eating and nutrition can help employees build healthy habits that last a lifetime.... Strategic plan design changes can support employees trying to reduce chronic condition risk factors and those actively managing chronic conditions." Tags: Health Plan Design • Misc. Benefits |
Key Considerations for Tax-Efficient Employee Benefits in a Sustainable World
Willis Towers Watson Mar. 7, 2024 "[1] Prioritise holistic wellbeing ... [2] Embrace eco-friendly benefits ... [3] Create a supportive and inclusive environment ... [4] Governance and compliance ... [5] Invest in employee engagement and development." Tags: Health Plan Design • Misc. Benefits |
April Is Stress Awareness Month: How Employers Can Help
Brown & Brown, Inc. Mar. 7, 2024 "Employers have an essential role to play in addressing stress in the workplace.... [1] Foster a positive work environment ... [2] Offer workplace wellness programs ... [3] Encourage breaks and time off ... [4] Provide clear expectations and support ... [5] Address workplace issues promptly ... [6] Manage workload and deadlines." Tags: Health Plan Design • Misc. Benefits |
Cash for Nannies, Extra Days Off: Child-Care Perks Top Workplace Benefits
Financial Advisor Mar. 5, 2024 "Some 56% of companies said that child-care benefits are their most pressing issue this year, up from 46% in 2023, according to a survey from Care.com. The new perks -- from an extra bank of paid time off when a kid is sick to cash stipends for a babysitter -- beat out paid family leave and mental health benefits as being top of mind for corporate human resources departments." Tags: Misc. Benefits |
IRS Cracks Down on Aircraft Usage by Corporations and High-Income Earners
McDermott Will & Emery Mar. 4, 2024 "Much of the personal use of corporate aircraft is attributable to travel associated with working remotely and challenges stemming from the COVID-19 pandemic. While the IRS has historically audited corporate aircraft issues ... this is a singularly focused audit initiative." Tags: Executive comp • Misc. Benefits |
2023-2024 Voluntary Benefits Benchmarking Overview (PDF)
Bolton Mar. 1, 2024 "[K]ey findings suggest many employers view offering or expanding their voluntary benefits programs as an effective strategy to address attraction and retention challenges in 2024." Tags: Misc. Benefits |
Employers Struggle to Meet Employee Demand for Higher Pay, Better Benefits
PLANSPONSOR; free registration may be required Mar. 1, 2024 "{If] given the option for an enhanced benefit, employees expressed a clear preference for increased pay and increased 401(k) match, while employers assume employees would prefer improved health and dental insurance, health savings accounts and charitable contributions. Seven in 10 workers also reported experiencing challenges when it comes to understanding benefits offered by their employer." Tags: Health Plan Design • Misc. Benefits • Retirement Plan Design |
ICHRA: Not Your Parents' Employee Benefits
EPIC Feb. 29, 2024 "Thanks to ICHRAs, employee benefits' role in retention has recently taken a giant leap forward by helping employers be more strategic about funding the cost of employee benefits while giving employees more plan choices and flexibility than they've had in a long time.... Who's a good candidate, and what are the advantages?" Tags: Health Plan Design • Misc. Benefits |
California Bill Would Require Employers to Continue Pay and Benefits for COVID-19–Positive Employees Excluded from Workplace
Ogletree Deakins Feb. 27, 2024 "Legislation introduced in the California Assembly would require the Occupational Safety and Health Standards Board to adopt a standard requiring employers to continue pay and benefits for workers who are excluded from the workplace for COVID-19 -- related reasons. The bill would require the Standards Board to adopt regulations by February 3, 2025. The bill appears to be based on outdated state and federal health agency advice that has since been updated." Tags: Health Plan Administration • Local Regulation • Misc. Benefits • Retirement Plan Administration |
Lifestyle Spending Accounts: What Employers Need to Know
TRI-AD Feb. 20, 2024 "LSAs can help with recruitment, retention, and productivity. Most importantly, they can help workers feel more satisfied with their jobs.... Because this program typically involves reimbursement on a taxable basis, employers have the freedom to be creative with plan designs." Tags: Misc. Benefits |
First Circuit Finds Insurer Owed Fiduciary Duty Under ERISA When It Increased Premium Rates for Group Long-Term Care Insurance
Roberts Disability Law Feb. 19, 2024 "The First Circuit first determined that Prudential's decision to exercise its discretion and increase premiums is part of the overall management of the welfare benefit plan and that Prudential owed Parmenter a fiduciary duty of prudence to manage the plan in accordance with the plan documents." [Parmenter v. Prudential Ins. Co. of Am., No. 22-1614 (1st Cir. Feb. 14, 2024)] Tags: Fiduciary Duties • Misc. Benefits |
CRS Insight: Internal Revenue Service Standard Mileage Rates
Congressional Research Service [CRS] [Guidance Overview] Feb. 19, 2024 "The [IRS] provides standard mileage rates as optional methods for taxpayers to substantiate their transportation expenses. This Insight reviews how the standard mileage rates are set, who uses them, and a history of the rates." [IN12320 Feb. 16, 2024] Tags: Health Plan Administration • Misc. Benefits • Retirement Plan Administration |
Making Well-Being Programs Work for Millennials and Gen Z
Brown & Brown, Inc. Feb. 15, 2024 "Financial well-being and family-forming support, such as parental leave, are paramount when considering wellbeing benefits for millennials.... Studies have shown that Gen Z employees tend to be financially practical and view physical fitness, nutrition and mental health support as imperative. Gen Z has high expectations of their employers and is willing to leave if their needs are unmet." Tags: Health Plan Design • Misc. Benefits |
An Employer's Guide to Long-Term Care Insurance
Woodruff Sawyer Feb. 15, 2024 "Long-term care insurance can help provide a valuable financial safety net and invaluable peace of mind for your team members. Clear communication and employee education are vital in helping employees know how long-term care insurance can best benefit them. It's also best to introduce LTC insurance off-cycle (not during open enrollment) to ensure it doesn't get lost among other offerings -- this usually results in higher participation." Tags: Misc. Benefits |
Tailoring Employee Benefits to Diverse Generations
AssuredPartners Feb. 14, 2024 "With each generation that enters the workforce, so does a unique set of benefit requests that suit their lifestyles, aspirations, and shifting medical needs.... [By] identifying the things that each group values the most, you can begin to craft a benefits program that resonates with each generation." Tags: Health Plan Design • Misc. Benefits • Retirement Plan Design |
Executive Travel on the Corporate Jet: First Half 2024 Imputed Income Rates
Winston & Strawn LLP [Guidance Overview] Feb. 13, 2024 "[E]xecutives are increasingly provided travel on the company aircraft for both business and personal purposes.... [A]ny non-business travel invokes Form W-2 income inclusion using the Standard Industry Fare Level (SIFL) rates published by the Department of Transportation twice per year, effective for a six-month period. The rates for the first half of 2024 have just been published." Tags: Executive comp • Misc. Benefits |
Is Unlimited PTO Right for Your Organization?
Gallagher Feb. 9, 2024 "Unlimited PTO has pros and cons for both the employer and employee, and there's no one-size-fits-all answer to whether unlimited PTO makes sense for your organization. Organizations must consider four points to answer that question.... [1] Eligibility for unlimited PTO ... [2] Interplay with other time-off policies ... [3] Impact on current balances (banked leave) ... [4] Value of tracking time with unlimited PTO." Tags: FMLA and Other Leave • Misc. Benefits |
IRS Web Page Helps Businesses Determine Eligibility for Up to $150,000 Employer-Provided Childcare Tax Credit
Internal Revenue Service [IRS] [Guidance Overview] Feb. 8, 2024 "The [IRS] announced the launch of a new page ... explaining the Employer-Provided Childcare Tax Credit, an incentive for businesses to provide child care services to their employees.... This tax credit is designed to help employers cover some of the qualified child care facility and resource and referral expenditures associated with providing child care services to their employees." Tags: Dependent Care • Misc. Benefits |
Employer-Provided Pet Insurance: Tax and ERISA Issues (PDF)
Thomson Reuters / EBIA Feb. 8, 2024 "If your company pays or contributes to the cost of the pet insurance, the value of the benefit would be fully taxable to employees under federal law because there is currently no federal income tax exclusion for pet insurance.... While ERISA's welfare benefit plan definition does cover medical, surgical, or hospital care or benefits, or benefits in the event of sickness, it seems doubtful that those terms encompass veterinary benefits. In any event, it appears that a pet could not be an ERISA beneficiary, as a pet would not be considered a 'person' under ERISA." Tags: Misc. Benefits |
The Impact of the Work from Home Era on Vision Care
BenefitsPro; free registration required Jan. 16, 2024 "Despite being often overlooked in health care benefits, vision care is pivotal in identifying and addressing key medical issues early on. With the new year underway and January marking National Eye Care Month, now is the ideal time for benefits advisors to start conversations about ancillary products like vision." Tags: Health Plan Design • Misc. Benefits |