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10 Employee Retention Resolutions for 2020

With a new year upon us, your attention is likely focused on setting financial and productivity goals for your business. As you plan, make sure to look at one area you may have overlooked: employee retention. Employee retention has a huge impact on your bottom line, and now is a great time to make some employee retention resolutions that will pay off all year long. Watch the video below to learn 10 key employee retention resolutions for 2020.

New Summary of Benefits and Coverage Template Will Be Required for 2021

Summary of Benefits and Coverage Template Recently, the Departments of Labor (DOL) and Health and Human Services (HHS) issued an updated template and related materials for the summary of benefits and coverage (SBC). These materials are required to be used for plan years beginning on or after Jan. 1, 2021. This means that the updated template must be used for the 2021 plan year’s open enrollment period.

5 Performance Review Best Practices

retirement plan disclouresPerformance reviews are an annual ritual for many employers, but their usefulness has been debated for years.

To make sure you—and your employees—get the most out of performance reviews, follow these five tips.

2020 Group Health Plan Compliance Dates

Group Health Plan Compliance DatesEmployers must comply with numerous reporting and disclosure requirements throughout the year in connection with their group health plans.

Listed below are upcoming group health plan compliance dates for employer-sponsored group health plans, organized chronologically. For these requirements, the information provided herein shows the deadlines that apply to calendar year plans. For non-calendar year plans, these deadlines will need to be adjusted to reflect each plan’s specific plan year.

Employee Benefits Annual Limits for 2020

Employee Benefits Annual LimitsWe are providing the helpful guide for the 2020 Employee Benefits Annual Limits. The guide contains:

  • IRS Limits on Health Savings Accounts (HSAs)
  • Non-HDHP Out-of-Pocket Limits
  • IRS Limits on Health Flexible Spending Accounts (Health FSAs)
  • Qualified Small Employer Health Reimbursement Arrangements
  • IRS Limits on Retirement Benefits and Compensation
  • And much more

How to Conduct 1-on-1 Benefits Meetings

Employee benefits programs are a big part of attracting and retaining top talent. You’ve likely worked hard to develop a competitive benefits package, but you may be undermining your hard work by not communicating effectively. Learn some tips how to conduct 1-on-1 benefits meetings in the video below.

1-on-1 business meetings

DOL Proposes New Method for Electronic Delivery of Retirement Plan Disclosures

Retirement Plan DisclosuresThe U.S. Department of Labor (DOL) published a proposed rule in October that would allow plan administrators to make retirement plan disclosures available on a website.

29 CFR Part 2520 states: The Department of Labor is proposing in this document a new, additional safe harbor for the use of electronic media by employee benefit plans to furnish information to participants and beneficiaries of plans subject to the Employee Retirement Income Security Act of 1974 (ERISA). The proposal, if adopted, would allow plan administrators who satisfy specified conditions to provide participants and beneficiaries with a notice that certain disclosures will be made available on a website.

6 Steps for Planning a Holiday Office Party

planning a holiday partyPlanning a holiday office party can be a logistical nightmare, especially when you don’t know where to begin. Luckily, we have a few steps to make it easier.

FSA Contribution and Other Benefits Limits Rise for 2020

FSA contributionsThe IRS announced an increase to flexible spending account FSA contribution limits for the 2020 plan year. Individuals can contribute $2,750 in 2020, up $50 from the previous year.

Since this announcement came so late in the year, some employers may not use the updated figures in their benefits limits—as doing so would require an addendum.

Compliance Corner for November 12, 2019

compliance corner

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