Posts in Benefits
Lawmaker Makes Another Attempt to Push for National Auto-IRAs

“The “Automatic IRA Act of 2019” would require employers that do not provide another qualified retirement plan and that have more than 10 employees to enroll workers automatically in an Auto-IRA, unless the employee opts out. Employers would receive tax credits to defray the costs of setting up the accounts.”

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Source: Planadvisor

Benefit Plan Cybersecurity Considerations: A Recordkeeper and Plan Perspective

“The U.S. has no comprehensive national law governing cybersecurity and no uniform framework for measuring the effectiveness of protections, though retirement plan recordkeepers maintain the personally identifiable information on millions of workers, collecting names, birth dates, social security numbers, and beneficiaries”. Click here to learn more.

Source: The Wharton School, University of Pennsylvania

Protecting Employee Benefit Plans With Cyber Insurance

As technology advances, the field of cybersecurity continues to develop and improve. Despite this, cyberattacks are becoming far more frequent and costly. Laura Fischer, partner at Spencer Fane LLP, provides a description on preemptive actions that can be taken to combat cyberattacks. Fischer points out that “cyberattacks have managed to invade all walks of life, and employee benefit plans are no exception.” Employee benefit plans are at great risk due to the extensive personal information that they contain such as personal health information, social security numbers, dates of birth, compensation metrics, and level of benefits. However, cyber insurance plans add a much needed layer of protection that can help prevent breaches and make them less detrimental when they occur. Click here to read more about how you can help protect your employee benefit plans with cyber insurance.

Source: Law360

Tax-Reform Changes Lead Some Employers to Raise 401(K) Matches

"A handful of large U.S. corporations announced they are raising the employer match for their 401(k) retirement plans or are making other changes in their benefit plans in the first month after a tax reform law was signed by President Trump. And nearly half of companies surveyed said they are considering taking such an action this year or next." Click here to read more.

Source: HR Daily Advisor