Tag Archives: Fringe benefits

Thousands of 401(k)s Fail Nondiscrimination Tests

Thousands of 401(k) plans failed their recent IRS nondiscrimination testing and had to return excess contributions to highly compensated employees because of imbalanced retirement plan coverage, according to research by a 401(k) advisory firm. Almost 60,000, or about 12 percent,…

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Texas, California Participants Top 401(k) Plan Loan Use

A study by Fidelity Investments of 13 million 401(k) investors across U.S. metropolitan regions pinpointed the cities where plan loans are most heavily used. The analysis found the greatest percentage of participants with outstanding plan loans, at 33 percent, in…

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Organization Strategy Must Underlie Health Reform Decisions

How a company complies with health care reform should be determined by what kind of employer it is, how exclusive its workforce is, and how important its benefit package is seen as an aid to recruitment and retention. Only after…

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Latest Data Shows Rise in 401(k) Assets; Equities Still Dominate

The average 401(k) account balance at the end of 2012 was 8.4 percent higher than the year before, but increased assets weren’t typical for all defined contribution plan participants studied, according to a December 2013 brief by the Employee Benefit…

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Wellness Plans Discriminate, Union Official Says

Wellness benefits have exploded in the past decade because they purportedly make employees healthier and save employers money, but they have found a detractor in at least one labor union.  John Borsos, secretary-treasurer of the National Union of Healthcare Workers,…

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IRS Standard Mileage Rates Drop a Half-cent

Employers whose employees use their own vehicles business can now adjust their reimbursement forms and procedures for 2014, since the IRS released the standard mileage rates for the year in Notice 2013-80 on Dec. 6. The IRS also adjusted the…

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IRS Eases Health FSA ‘Use-it-or-Lose-it’ Rule

Employers now have the option of allowing plan participants to roll over up to $500 in unused FSA funds at the end of each plan year, under a new regulatory interpretation on health flexible spending accounts, the U.S. Treasury Department…

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Employers Face Another End to QTFB Parity

Unless Congress acts soon, employees will once again have less to use for mass transit expenses under qualified transportation fringe benefit plans, and employers will once again have to lower the limits they allow under QTFBs at the end of…

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IRS: Bike-share Is Not a Qualified Transport Fringe Benefit

Bicycle share expenses — incurred, for example, when one dips a credit card into a pay kiosk on the street in order to rent a bicycle from a public bike rack — do not qualify as payment for transportation on…

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DoD to Begin Extending Employee Benefits to Same-sex Partners

Some employee benefits such as child care and transportation benefits are soon to be offered to the same-sex domestic partners of military members, U.S. Department of Defense recently announced. Outgoing Secretary of Defense Leon Panetta indicated in Feb. 11 memo that…

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