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Retirement

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?

FICA wage base increases to $118,500 for 2015

10/22/2014
The 2015 taxable wage base for the Social Security portion of FICA is $118,500, a 1.28% hike over the 2014 wage base. The 6.2% Social Security tax is payable by both employers and employees; in 2015, the maximum tax is $7,347.

Feds sue Keene company over missing retirement funds

10/07/2014
The DOL is suing a Keene-based rehabilitation therapy practice after investigators discovered that the owner had been deducting retirement plan contributions from employees’ paychecks for the past two years without forwarding any money to the plan.

36% of Americans haven’t saved a dime for retirement

08/27/2014
Over a third of all Americans (36%) have not saved any money for retirement, according to a new Bankrate.com survey.