On January 1st, provisions to the SECURE Act 2.0, part of the 2023 omnibus spending bill, went into effect – and it may affect your benefits package. The SECURE Act 2.0 – which is built off the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 – is designed to enhance retirement-readiness with…
The clock is winding down to the end of the year and if you’re an HR professional or employer, now is the time to remind employees that they may have flexible spending account (FSA) funds left to use before the December 31 use-it-or-lose-it FSA deadline. Why should you make time for this now when you…
There’s no denying the importance of workplace well-being, especially in a post-pandemic world. It’s one of HR’s top priorities for 2024, according to a recent Virgin Pulse survey. And focusing on employee health is probably a good idea, since healthcare costs are expected to rise 5.4% in 2024. One piece of the well-being puzzle that…
‘Tis the season for end-of-year madness. From wrapping up open enrollment to budgeting for the new year, there are a lot of boxes to check off. But there’s one you won’t want to miss: Reminding employees about depleting their Flexible Spending Account (FSA) funds before year-end. In the midst of the chaos, it can be…
Consciously making employee well-being part of your company culture, with a balance of work flexibility and connectedness, will be the key to successful retention. That’s according to Aimee Gindin, the chief marketing officer of LifeSpeak Inc., a “whole-person” employee well-being solution for employers, health plans and other organizations. In an episode of the HRMorning podcast…
For an employee wellness program to be successful, employers need to make sure that employees are aware of the program and are using it. Factors that determine success include promoting awareness, strong support by leaders and soliciting input from employees. “While all components of a wellness program are important, the reality is that if well-being…
Employee benefits are a core function of human resources, and for good reason: A comprehensive employee benefits package can help keep current employees happy, and competitive perks can attract and retain top talent amidst a tight labor market. But employee benefits are a complicated, messy space that can seem daunting: Between staying legally compliant and…
Good news: Employees will be able to sock away a little bit more money into their retirement accounts next year, the IRS recently announced. Here’s the key info to share with workers about the new 401(k) contribution limits. In Notice 2023-75, the Service issued guidance on cost‑of‑living adjustments affecting dollar limitations for pension plans and…
