IRS Gives Plan Sponsors Welcome Relief for Automatic Enrollment Features

The Internal Revenue Service (IRS) recently announced modified correction methods for errors relating to automatic contribution features, including automatic enrollment, automatic escalation, and employee elective deferrals in both 401(k) and 403(b) plans.

The correction methods in the new Revenue Procedure 2015-28 are in addition to those previously identified in Revenue Procedure 2013-12. These new correction methods will encourage employers to more readily include automatic enrollment features in their defined contribution plans.

Retirement Plan Best Practices for Using an Independent Advisor

Best practices underscore the value of using an independent advisor with regard to developing, implementing, and overseeing a retirement plan. An experienced, independent advisor can offer valuable guidance and feedback to help ensure that a retirement plan is meeting the objectives of both the plan sponsor and participants. As a plan fiduciary, if you are lack the expertise necessary to fulfill your fiduciary obligations,

Retirement Plan Administration Best Practices

Retirement plan sponsors have a difficult challenge: balancing the desire to offer a valued and valuable retirement plan to their employees, with the administrative and regulatory requirements and expense of maintaining the plan.

Experts agree that plan sponsors can help address these issues by consistent adoption of plan administration and oversight best practices.These steps can lower costs, increase plan enrollment, boost savings rates, and better prepare employees for a more secure retirement, while helping mitigate the risk borne by plan fiduciaries.

Department of Labor Announces Changes for Form 5500 for 2014

Although the filing date for Department of Labor Form 5500 – Annual Return/Report for Employee Benefit Plans – is still several months away, plan sponsors should take a few minutes to become familiar with the changes that have been made for the 2014 reporting year.

Human Resources Conference - Apr 22-24, 2015

REGISTER TODAY

Strategic Benefit Services Human Resources Conference

Embrace, Engage, Elevate: Leading High-Performing Talent

Human resources’ top thought leaders offer the latest insights and ideas on guiding your workforce through compliance, key retirement plan topics, total rewards, employee engagement, and more! Session topics will include:

• Current Direction of Workforce and Executive Compensation Programs
• Technology Impact on Employee Benefits
• Strategic Change Management
• Getting the Most Value Out of Your Retirement Program in Today’s Challenging Environment
• Legal Developments and Updates
• Leadership Development and Coaching a Motivated and Engaged Workforce
• Healthcare 2.0 – Post-ACA Group Health and Welfare Benefits Trends

* SHRM & HRCI Strategic Credits Pending

When:     April 22:  6 p.m.  – Welcome Reception
                 April 23:  8:30 a.m. – 5 p.m. – Sessions; Dinner to follow                                                    April 24:  8:30 a.m. – 12:30 p.m. – Sessions; Lunch to follow

Where:    New York Marriott at the Brooklyn Bridge
                333 Adams St, Brooklyn, NY 11201

SAVE $50 WITH EARLY REGISTRATION!

Early Bird Rate $299 (Until March 6, 2015)

REGISTER NOW

Webinar: 2014 TOP FIVE Events or Individuals that Impacted the Financial Markets

Strategic Benefit Services is sharing our observations on 5 major influences on the financial markets in 2014. This webinar provides invaluable insight regarding:

• 2014 Financial Markets Performance
• Top 5 Events or Individuals that Impacted the Financial Markets
• 2015 Expected Financial Outlook 

Click image to watch webinar

If you have any questions about the 2014 Top Five webinar, or would like to speak with an advisor, please get in touch by calling (855) 882-9177 or via e-mail at sbs@hanys.org.

How Saratoga Hospital Reduced Their Retirement Plan Expenses

When it comes to reducing retirement plan expenses, there is no time to waste!

Saratoga Hospital wanted to quickly establish a solid fiduciary process. Read about Saratoga Hospital’s challenges with its retirement plan, and how Strategic Benefit Services was able to reduce its retirement plan expenses and ensure it is in compliance with ERISA regulations.

If you have any questions or would like to speak with an advisor about reviewing or establishing a plan, please contact us at (855) 882-9177 or via e-mail at sbs@hanys.org.