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Retirement

First Bankers settles ESOP lawsuits for $15.75 million

12/13/2017

First Bankers Trust Services, a New York City firm that calls itself the “premier provider of fiduciary services” to clients nationwide, has settled three lawsuits with the U.S. Department of Labor’s Employee Benefits Security Administration over its handling of three employee stock ownership plans.

Poll: Employee benefits are our favorite tax breaks

12/12/2017

As a congressional conference committee negotiates the final terms of tax reform legislation, a new poll of working Americans shows more support for maintaining the tax-favored status of employer-provided benefits than for the popular mortgage interest deduction.

Workflex in the 21st Century Act may modernize ERISA

11/22/2017

New legislation would allow employers to create an ERISA plan, known as a qualified flexible workplace arrangement plan, as a way to offer employees a combination of guaranteed paid leave and increased work flexibility options. 

More employers institute 401(k) auto-enrollment

11/08/2017

More employers than ever are automatically enrolling employees in defined contribution retirement plans such as 401(k)s, according to a new survey by Alight Solutions, an HR consultancy that recently spun off from Aon Hewitt.

Study finds benefits costs vary greatly by industry

10/31/2017
The cost of employer-provided health care and retirement benefits, measured as a percentage of pay, varies greatly by industry, according to research by the Willis Towers Watson consulting firm.

2018 FICA wage base, withholding allowances, retirement contributions

09/28/2017

The Social Security Administration has announced that the taxable wage base for the Social Security portion of FICA will increase to $128,700 in 2018. The amount employees can contribute to 401(k) and 403(b) retirement accounts will increase to $18,500 for 2018.

Snapshot: 401(k)s dominate retirement benefits landscape

07/03/2017
Only about one-fifth of employers still offer traditional defined-benefit pensions. Defined-contribution retirement plans have become almost universal.

DOL recovers 401(k) funds for St. Paul company employees

06/28/2017
According to the U.S. Department of Labor’s Employee Benefit Security Administration, Weinhagen Tire employees’ retirement contributions took an illegal detour into the St. Paul company’s operating accounts.

Health, retirement perks remain strong draws

04/25/2017
Health insurance remains the employer-provided benefit employees value most, followed by retirement savings.

Stressed about retirement, most decide to do nothing

03/29/2017
Thirty percent of Americans surveyed say they are emotionally stressed out about their retirement prospects.