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Compensation & Benefits

Retain older workers with tailored benefits

08/23/2023
Now that the post-COVID economy has stabilized and the stock market is climbing again, some older workers who stuck with you throughout the pandemic may be considering quitting to pursue other interests. But if they do, you will be at risk of losing the benefit of their on-the-job experience, their investment in your organization’s culture and their institutional knowledge of how you get work done.

Health insurance red tape, claims denials and confusion cause care delays

08/21/2023
Most people with health insurance—58%—say they encountered at least one problem using their coverage in the past year, according to a Kaiser Family Foundation survey of consumer experiences with health insurance.

Using tip credit to pay employees? Follow DOL’s 80/20 rule

08/21/2023
How should you pay employees who receive tips but also perform other non-tipped work? That’s where the Department of Labor’s 80/20 tip-credit rule comes into play.

Open enrollment countdown: Employers take a variety of approaches to health benefits education

08/07/2023
As open enrollment for 2024 benefits approaches, employers are ramping up efforts to educate employees about key benefits, including health insurance. According to a new study by Optavise, a provider of benefits training, employers use a variety of tools to ensure employees understand and make smart choices about their health coverage options.

‘Back to school’ may mean employees need time off

08/07/2023
Most employers are flexible about granting school-related leave, but just how far they’ll bend depends on whether employees are nonexempt or exempt and state short-term leave laws.

Retirement plan fiduciaries to pay more than $124 million for mismanaging profit sharing

07/24/2023
Fiduciaries of a retirement plan sponsored by an IT outsourcing firm—including the plan’s investment advisors—will pay more than $124.6 million to resolve violations of federal law related to their failure to properly manage the profit-sharing portion of the plan.

4 generations of employees face differing retirement realities

07/24/2023
The Transamerica Center for Retirement Studies recently surveyed members of four generations that make up the American workforce these days—Generation Z, millennials, Generation X and baby boomers. The topic: retirement expectations. Unsurprisingly, their views differ.

Friday wrap: Last stop for overtime regs, IRS again clarifies disaster tax relief and more

07/21/2023
Overtime regulations, student loan forgiveness and more to end the week.

SECURE 2.0: Is it the answer to both the retirement crisis and employee retention?

07/19/2023
With HR struggling to boost retention numbers, some experts believe SECURE 2.0 provides part of the solution. “SECURE 2.0 is the most sweeping legislation we have seen in the retirement industry,” said Mike Griffin of UBS Workplace Health Solutions.

Retaining top talent, managing higher costs driving employers’ benefits strategies

07/17/2023
Eighty percent of employers surveyed by Willis Towers Watson said competition for talent is the top priority influencing their benefits strategy right now. The second highest priority: managing higher costs, cited by 67% of employers. Coming in third and fourth were a focus on inclusion and diversity (cited by 41%) and caring for employees’ mental health (39%).