Retirement

Feds’ myRA retirement plan now open for business

01/21/2015

It’s now possible to offer your employees a secure retirement savings account at no cost to you. The federally insured myRA program that President Obama announced in his 2014 State of the Union address is now accepting enrollees.

Retirement savings: Your next mandatory benefit?

01/14/2015

Illinois employers must begin offering a retirement savings plan to employees starting in June 2017. Gov. Pat Quinn signed the Illinois Secure Choice Savings Program Act on Jan. 4, making Illinois the first state to require employers to provide retirement benefits.

Austin bus company to pay $655K to settle labor dispute

01/05/2015

Travis Transit Management of Austin has agreed to pay 600 current and former employees $655,000 to settle charges it unilaterally changed employee health, retirement and other benefits when it began providing bus service for Austin’s Capital Metro in 2012.

Pension Benefits: ERISA Rules

01/03/2015

HR Law 101: The Employee Retirement Income Security Act (ERISA) governs the administration of employee retirement plans. Pension plans fall into two major categories: qualified and nonqualified plans …

Study: 2008 market crash delayed retirement for 23%

12/22/2014

Among the victims of the Great Recession of 2008-2009 were the retirement expectations of many Americans. New research from the nonpartisan Employee Benefit Research Institute has quantified just how much those hopes suffered.

Benefits: Should we put details in the employee handbook or the Summary Plan Description?

11/27/2014

Q. Should a small business employee handbook include a safe-harbor clause under the benefits section for their 401k plan? In the past, the benefits information in the handbook has been limited because it can change so often. Instead, the handbook just points the employee to the summary plan documents.

Employees can sock away more for retirement next year

11/19/2014

The amount employees can contribute to their 401(k) or 403(b) plan accounts increases to $18,000 for 2015, the IRS has announced.

401(k) contribution and catch-up limits increase

11/18/2014

The amount employees can contribute to their 401(k) or 403(b) plan accounts increases to $18,000 for 2015, the IRS announced.

Participation in retirement plans starts ticking up again

11/18/2014

The percentage of workers participating in an employment-based retirement plan increased in 2013 for the first time since 2010, according to a new report by the nonpartisan Employee Benefit Research Institute.

Forget the gold watch! Present last check instead

10/27/2014

Employees who quit in California must receive their last checks within 72 hours if the employee provides no advance notice. If the worker does provide at least 72 hours’ notice, the payment must be immediate. But what about employees who announce their retirement—presumably at least 72 hours before their last workday?