A highly effective financial wellness program can save a large company well into the millions of dollars based on the easiest costs to measure -- wage garnishments, absenteeism and utilization of FSAs and HSAs.
The new regulation opens the door for employers to adopt (or convert their existing cash balance plans) to market-return cash balance plans, without a minimum fixed rate, and with the opportunity to have a scale of pay credits that materially increase by age or service.
Since failure to comply with the regulations pertaining to 401(k) administration can lead to significant financial penalties, business leaders need to familiarize themselves with the new retirement plan rules starting with 2023.
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Employers are looking for ways to support their employees and provide them with the benefits they need when they need them. Download this eBook and learn how you can help your clients provide a holistic benefits experience that meets those very needs.
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Is your benefits program resonating with current and prospective employees? Assessing your employee benefits is a must in order to attract and retain top talent. Download this eBook and learn about eight considerations to build a better employee benefits program.
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