Is Your Retirement Savings Potential Limited by a Poor Plan Design?
Taxes can put a huge dent in your ability to set aside enough money for your own retirement. The same may be true for other highly compensated and key employees on your company's plan. That's why the last thing you need is for your plan to fail the IRS anti-discrimination tests. If that happens, your ability to contribute to your company's 401(k) will be further limited. Here's a closer look at the problem.
Court: Missing COBRA Notice Led to Hefty Legal Penalties
It's no small matter when an employer fails to provide a terminated employee with a timely COBRA notice. But if the lapse is determined to be intentional, the employer may be hit with penalties and other costs that mount quickly. One company found out the hard way just how serious this offense is, when a former employee took them to court. This article explains the recent case.
Employer Considerations When Domestic Violence Affects a Staff Member
One in four women will experience some form of domestic violence during her lifetime, according to the U.S. Centers for Disease Control and Prevention. Chances are, at least one of your organization's employees is included in that statistic. Of course, men can also be victims, though the rate of incidents is much lower. While you might have plans in place to help victims in your workplace, developments in employment law are already addressing the subject.
Self-Insuring Health Benefits: ACA Changes the Equation
With the delayed mandate of the Affordable Care Act kicking in for many employers next year, interest in self-insurance is heating up. This is true not only for companies that are subject to the mandate in 2015, but also for some smaller employers that have until 2016, and some very small employers that escaped the "shared responsibility" provisions. It might be time to take another look at what's involved.
Longevity Annuity Now an Option for Your 401(k)
An annuity can be a great investment in the future for individuals who have money they won't need to tap into for a while, such as from the sale of a home or an inheritance. Now, the IRS has finalized rules that might encourage 401(k) plan sponsors to allow employees to buy a "qualified longevity annuity contract" as part of their plans. Should you consider amending your 401(k) plan to make that possible?
HSAs Growing; Significant Tax Benefits Available to Top Earners
Health savings accounts have now been in existence for a decade. The pace of HSA formation has been picking up for a variety of reasons, including the potential savings of hundreds of thousands of dollars associated with the three-part tax benefits of HSAs. With all of the Affordable Care Act-related changes in health plans in the works at many organizations, this may be good time to take a fresh look at HSAs.
Working Virtually: The New Frontier in ADA Accommodation?
What does it mean to provide "reasonable accommodations" to temporarily or permanently disabled employees so they can do their jobs, without causing "undue burdens" on employers? (This type of accommodation is required by the federal Americans with Disabilities Act.) The answer is not static, but evolving. Here's the latest information and some guidelines to consider when an employee asks for a telecommuting arrangement.