Thursday, February 21, 2019

Strategic Benefit Services named a PLANADVISER Top 100 Retirement Plan Adviser for the 3rd time

PLANADVISER has named Strategic Benefit Services as one of its 2019 Top 100 Retirement Plan Advisers. PLANADVISER’s Top 100 Retirement Plan Advisers is an annual list of the retirement plan advisers and adviser teams at the top of their respective peer groups in terms of assets under advisement or number of retirement plan clients—including sponsors of defined contribution, defined benefit and nonqualified plans.

“SBS is honored to be again recognized by PLANADVISER,” said James J. Kelley, president, SBS. “We are also grateful to our clients for continuously placing their trust in us. We strive to build real relationships with our clients, creating a shared fiduciary responsibility with the companies we advise.”

SBS is categorized by PLANADVISER as a large team, having met this year’s eligibility standards of $3.5 billion or more retirement plan assets under advisement or 200 or more plans. SBS was previously named to PLANADVISER’s list in 2017 and 2016. SBS has been providing retirement services to leading healthcare, not-for-profit and corporate organizations for more than four decades. We provide trusted advisory and consulting services including plan design, vendor management, investment selection and monitoring, operational oversight, and on-site education and communication. SBS also provides services in support of employer mergers and acquisitions, defined benefit plan de-risking strategies and other complex matters including DOL and IRS audits. SBS conducts business in accordance with our values, in a manner that is in the best interests of our clients, with an ultimate goal of assuring our clients’ employees are ready for retirement.

Wednesday, February 20, 2019

2019 ACA compliance overview — SBC and HIPAA

The Affordable Care Act has made significant changes to group health plans since it was enacted in 2010. Many of these key reforms became effective in 2014 and 2015, including health plan design changes, increased wellness program incentives and employer shared responsibility penalties.

Changes to some ACA requirements, such as increased dollar limits, take effect in 2019 for employers sponsoring group health plans. To prepare for 2019, employers should review upcoming requirements and develop a compliance strategy.

This article provides an overview of requirements for Summary of Benefits and Coverage and Health Insurance Portability and Accountability Act certification documents.

Thursday, February 14, 2019

2019 ACA compliance overview — Cost-sharing limits

The Affordable Care Act has made significant changes to group health plans since it was enacted in 2010. Many of these key reforms became effective in 2014 and 2015, including health plan design changes, increased wellness program incentives and employer shared responsibility penalties.

Changes to some ACA requirements, such as increased dollar limits, take effect in 2019 for employers sponsoring group health plans. To prepare for 2019, employers should review upcoming requirements and develop a compliance strategy.

This article provides an overview of cost-sharing limits applicable to non-grandfathered plans.

Friday, February 8, 2019

2019 ACA compliance overview — Plan design changes

The Affordable Care Act has made significant changes to group health plans since it was enacted in 2010. Many of these key reforms became effective in 2014 and 2015, including health plan design changes, increased wellness program incentives and employer shared responsibility penalties.

Changes to some ACA requirements, such as increased dollar limits, take effect in 2019 for employers sponsoring group health plans. To prepare for 2019, employers should review upcoming requirements and develop a compliance strategy.

This article provides an overview of plan design changes for grandfathered plans and an update on FSA contributions.

Wednesday, February 6, 2019

Q4 Market Recap: “Bookends” of volatility in 2018

The year 2018 ended as it began, with significant market volatility. Some market analysts believe the combination of algorithmic trading and the elimination of the uptick rule may be contributing factors. Ironically, some volatility is a necessary evil for investors who view a stake in equities as essential to reaching their longterm goals.

Read the Q4 Market Recap to learn more about the individual periods of market volatility throughout 2018 and the root cause behind them.

If you have any questions, or would like to begin talking to a retirement plan advisor, please get in touch by calling (855) 882-9177 or e-mail us at sbs@hanys.org.

Tuesday, January 29, 2019

Congratulations to Cobleskill Regional Hospital

Congratulations to Cobleskill Regional Hospital on being named a finalist for PLANSONSOR’s 2019 Plan Sponsor of the Year in the nonprofit defined contribution <$250 million category!

The Plan Sponsor of the Year annual award program recognizes retirement plan sponsors that show a commitment to their participants’ financial health and retirement success.

Strategic Benefit Services is proud of all that you have accomplished!

Wednesday, January 23, 2019

7 questions employees should ask about Paid Family Leave

1. If I started my continuous leave in 2018 and it extends into 2019, am I eligible for the benefits at the 2019 rate and an extra two weeks?

You get the benefit rate and number of weeks in effect on the first day of your leave.

2. If I started my intermittent leave in 2018 and it extends into 2019, am I eligible for the benefits at the 2019 rate and an extra two weeks?

You get the benefit rate and number of weeks in effect on the first day of a period of leave. When more than three months passes between days of Paid Family Leave, your next day or period of Paid Family Leave is considered a new claim under the law. This means you will need to file a new Request for Paid Family Leave and that you may be eligible for the increased benefits available should this day or period of Paid Family Leave begin in 2019.

3. I had a new baby in the fall of 2018. Can still take Paid Family Leave in 2019 to get the enhanced benefits?

Yes, you can take Paid Family Leave for bonding with a new child at any time within the first 12 months of the child’s birth, adoption or foster care placement, provided that you remain an eligible, covered employee.


To read all 7 question and answers, click here for a downloadable version. Questions and answers can also be found on paidfamilyleave.ny.gov.

If you have any questions, or would like to begin talking to an employee benefits consultant, please get in touch by email or by calling (855) 882-9177.

<< Blog Home

Subscribe to blog via email
Subscribe to rss feed

Financial
Wellness Report


Free Download