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DOL Overtime Rule Blocked in Federal Court

On November 22, Federal Judge Amos L Mazzant III allowed a preliminary injunction motion seeking to stop the revised regulations from taking effect nationwide on December 1, 2016. The Department of Labor’s (DOL’s) new federal overtime rule would have doubled the Fair Labor Standard Act’s (FLSA’s) salary threshold for exemption from overtime pay. In October, Read More

Categories: Payroll, Policy & Regulation,
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Overtime Rule for Salaried Employees Explained

In 2014, President Obama directed the Secretary of Labor to update the overtime regulations to reflect the original intent of the Fair Labor Standards Act, and to simplify and modernize the rules so they’re easier for workers and businesses to understand and apply. The department has issued a final rule that will put more money Read More

Categories: Benefits Management, Policy & Regulation,
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What Small Businesses Need to Know About 401k Testing

ERISA requires a certain set of tests to be performed yearly on every 401(k) plan to confirm that they do not discriminate in favor of Highly Compensated Employees (HCEs) and that IRS contribution limits aren’t being exceeded. The testing is likely to happen at the close of a plan year. Many companies outsource this work to Read More

Categories: Benefits Management, Strategy & Industry Insights,
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Individual 401k Contribution Limits Remain Unchanged for 2016

Wow, 2015 is flying by! Before you know it we’ll be heading into 2016. Keep an eye out as we’ll be sharing some helpful information to keep you informed moving into the new year. Recently, the IRS announced the 2016 limits that impact retirement and other benefit plans. These amounts have remained unchanged from the 2015 Read More

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Which would you choose: health or wealth?

Everyone has a ranking system for the most important things in their lives. Where do you think most participants rank their 401(k) investments? In a recent nationwide survey commissioned by Schwab Retirement Plan Services, it was found that many people would consider their investments more important than their health. Of those surveyed, 73% would trade Read More

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New fiduciary changes coming, where are you focusing your attention?

With the proposed changes to the fiduciary proposal ahead, what should plan sponsors be focusing their attention toward? The Department of Labor’s proposed adjustment of the very definition of a fiduciary under the Employee Retirement Income Security Act (ERISA) will capture more services offered by IRA and 401(k) providers by altering the scope of those Read More

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Are You Aware of These 5 ‘Little’ Things that Can Have a ‘Big’ Impact on Your 401(k)?

Over the past 25 years, 401(k) plans have become the dominant retirement planning option for most US workers. As a small or medium-sized business owner, you’re probably aware of some of the major complications which can be associated with administering a plan. But what about those so-called “little” issues that can become major problems? According Read More

Categories: Benefits Management, Policy & Regulation,
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Are You Maximizing Your HSA Benefits?

People don’t think of health savings accounts (HSA) as a long-term benefits option and they overlook its’ value as a savings tool. A study from UMB Healthcare Services found that less than one percent of participants maxed out their allowable contributions. People are accustomed to using HSAs in the same manner they use their flexible Read More

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Do Your Company Contribution Plans Stack Up?

When it comes to saving, we all know its’ importance. Wisely investing throughout our career can afford us a retirement with little financial worry. With defined contribution plans, employee’s benefits during retirement depend on the contributions made and the investment performance of the assets in his or her accounts. As an employer, are you providing Read More

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How Do Your Employees Feel About Retirement?

It goes without saying that we all know the importance of retirement and establishing financial security for the golden years. Even so, baby boomers approaching retirement are running into unexpected financial surprises including increasing costs of health care. This should be a lesson to our youth to save early and maximize investments. Charles Schwab recently Read More