Compliance

SECURE 2.0 increases the cap for mandatory force-outs on account balances from $5,000 to $7,000 after December 31, 2023, however, plan sponsors may want to have more assets in the plan to lower fees for all participants.

What do carriers see as the future in the absence management and leave management space?

65% people surveyed would like to or have asked colleagues about how much they earn to see how their own salary ranks.

"I think what employers would really like from the Legislature is more certainty. Not making laws that, to figure out what it means, you have to go to litigation," David A. Rapuano, a partner with Archer & Greiner, said. "To me, and to my clients, it is bad policy to create laws that cannot be figured out unless a court [is involved]."

The annual contribution limit for flexible spending accounts will rise to $3,200 in 2024, an increase of $150 from this year, the IRS recently announced.

Why time away from work will be 2024's hottest "New Benefit", and how changing leave laws are affecting employers.

More than one-third of companies are disclosing individual pay ranges to employees, and an even larger number (46%) are planning or considering doing so in the future.

Under ERISA regulations, the fiduciary has 4 areas of duty: loyalty to the participants, prudence in running the plan, and the ongoing duties to diversify and minimize risk and to follow plan documents, unless they violate ERISA rules.