Year end can be a stressful time for those in ownership and management positions. Along with having to tackle a myriad of tasks related to financial reporting and tax planning, you also probably need to plan a holiday party. And whether it is the food,...
When participants request hardship distributions from a 401(k) plan, employers must collect and store documents showing that the participant had an immediate and heavy financial need to permit such a distribution. In today’s digital age, you might wonder whether you could instead allow participants to...
A job description may seem like just so many words on a page or website. But those words have power. They can either set an employer and employee on a path toward a positive, fruitful relationship or on a downward spiral into confusion and conflict....
When an employer’s staff size reaches 20 or more, it is generally required to offer “COBRA” health care coverage to departing employees. (The name comes from the legislation that made it law: the Consolidated Omnibus Budget Reconciliation Act of 1985). If your organization is subject to...
When retiring employees walk out the door for the last time, they often leave with more than fond memories. Many depart with vast amounts of ‘intellectual capital’ — knowledge related to the organization and their jobs that no one else possesses. Unfortunately, few employers take the...
In today’s high-anxiety world, it is not uncommon for employees to battle personal problems such as substance dependence, financial and legal woes, and mental health issues. These struggles can negatively affect their productivity and the working environment around them. Employers can help by offering an EAP....
There are thousands of service dogs hard at work in the United States today. Assuming it has not happened already, you may eventually field a request from either a new hire or existing employee to bring one of these animals into your workplace. It is critical...
Pension plans are not as popular as they used to be. For years now, employers have been moving from defined benefit plans (pensions) to defined contribution plans such as 401(k)s. But one type of hybrid pension that remains relatively popular is the cash balance plan. Examining...
There is little doubt that nearly every type of employer will continue to rely on technology to beat — or even just keep up with — their competition. This means not only acquiring the right hardware and software but also hiring and retaining the brightest...
Like many small business owners, you may be unable to sponsor a major medical plan at this time. Perhaps you have thought about sponsoring a health Flexible Spending Account (FSA) instead. Unfortunately, under federal regulations, you may not be able to do that either. There...