Manufacturing May Change Benefits for the Better
Plan sponsors keeping an eye on trends in benefit plans and offerings may want to pay attention to a new field – manufacturing. Will development of new manufacturing across the U.S. change employee expectations for benefit plans?
SECURE Act 2.0: Sponsors, Get Your Forms Ready
SECURE Act 2.0 may require a bit of work for plan sponsors and those who manage the administrative side of benefit plans. We sat down and discussed the new act with our experts. They noted three main areas sponsors may want to consider: hardship deduction tracking; changes that could significantly increase or decrease the number of participants (and by association, your costs); and how forms are worded and stored.
What Participants Should Know: Unpaid Student Loans and Retirement Income
In an effort to build benefits packages that attract workers, many employers are adding student loan repayments to their benefits lineup. This measure was often seen as part of professions requiring advanced degrees like law and health care. But a new study may add additional weight to that decision by showing that student loans impact retirement income long after employees have graduated.
A Round Up of Advisor Articles and A Few Predictions
For the last four or five years, every article seeking to review the past year’s events has summed up the previous twelve months as “a lot.” After so much unpredictability and turmoil in the markets, reading those future planning articles may seem less than fruitful. Yet, we still think it is important to take stock of what has happened in 2022 and look at what we think might be coming in 2023.
Newest Suits Against Plan Sponsors Show a Pandora’s Box-Like Effect from the Hughes Case
New lawsuits against Plan Sponsors are all over the map, and not just geographically. Sponsors are now being sued for choosing funds that are too cheap. The class action suits continue their pile-on against plan sponsors. Here are a few key takeaways.
Honesty is the Best Policy
When it comes to hiring, interviews are a two-way street. Are you marketing your benefits well? How best to be honest and open about benefits in recruiting.
Auto-Enrolling Seasonal Workers
Seasoning isn’t just for your stuffing. Instead, seasoning may be flummoxing your benefits team. Adding those workers can add a positive boost to morale but may be a nightmare for your administrative team. Here are three key considerations to discuss with your team.