Like a 401(k) plan, a group health plan must comply with ERISA’s rule that prohibits a plan fiduciary from paying more than a reasonable amount for services provided to the plan. When a group health plan offers insured benefits,...Read More
Author: Deborah Grace
What do a newly married employee, a long-term employee, and a change of 401(k) recordkeepers have in common? Beneficiary Designation Forms.
A participant in a 401(k), 403(b), or other account-style retirement plan may name a beneficiary to receive his or her account balance after the participant’s death. A recent case, Moore v. NCR Corp. Plan Admin. Comm. (USDC N.D....Read More
Although it might not be obvious, tax law permeates most HR responsibilities – from paying an employee, to arranging for benefit coverages, to settling employment lawsuits, and paying pensions. Knowing a few key tax principles...Read More
The Hidden Cost of Terminating 20% or More of Your Employees – Partial Termination of the Retirement Plan
With the delay in re-opening businesses, some companies are finding that they need to terminate employees who had been placed initially on furlough or a reduced-hours assignment. When analyzing the costs that will be incurred...Read More
Benefits Briefs in the Time of COVID-19, Part 7: What Do Layoffs, Leaves, and Furloughs Mean for Retirement Plans?
The COVID-19 pandemic has employers strategizing on how to retain valuable employees while addressing declines in demand for the company’s products or services. Some employers have placed employees on unpaid leave status...Read More