Findley Post
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Proposed E-Delivery Safe Harbor Recognizes Online Reality
On October 22, 2019, the DOL announced new guidance that should go a long way toward bringing the delivery of ERISA-required disclosures and notices into the 21st Century. It should also provide significant cost savings for plan sponsors. This e-delivery […]
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Employee Benefit Plan Limits for 2020
Findley is pleased to provide you the following 2020 limits (and comparable 2019 figures) for various employee benefit plans and Social Security. Employee Benefit Plans 2019 2020 401(k) elective deferral dollar limit $ 19,000 $ 19,500 403(b) elective deferral dollar […]
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Is Your Voluntary Benefits Program Really Exempt from ERISA?
Employers have a lot to think about when it comes to their employee benefit programs and legal compliance. ERISA’s safe harbor exemption for a certain group or group-type insurance programs allows employees to access all kinds of benefits without their […]
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Pension Strategy Driver – 2020 PBGC Premium Rates Announced
For many sponsors of single-employer pension plans, the minimum cash funding requirement is no longer the most important number discussed with their actuaries every year. Instead, pension plan sponsors have shifted their focus to managing their PBGC premiums. PBGC Premiums […]
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Pension Mortality Updates May Decrease Liabilities
The Society of Actuaries’ (SOA) new Scale MP-2019 mortality improvement rates will lead to lower liabilities compared to the previous versions. Along with the improvement scale, the SOA’s Retirement Plans Experience Committee (RPEC) also released a set of new mortality […]
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Minimum Participation Rule Puts Pension Benefits at Risk
Almost all pension plans are subject to certain compliance tests that are outlined by the IRS. The compliance requirements are in place to make sure that if a plan sponsor’s contributions to a pension plan are deductible for tax purposes, […]
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GE pension changes: should my company be looking to do the same?
On October 7, General Electric (GE) announced a series of decisions around their salaried pension plan: For participants continuing to accrue benefits, further accruals will be stopped at the end of 2020. (New employees hired after 2011 were not eligible […]
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Final Overtime Rule Threshold Set by DOL at $35,568
On September 24th, 2019 the U.S. Department of Labor (“DOL”) announced its final overtime rule setting the minimum salary threshold for overtime eligibility at $35,568 ($684 per week) for white-collar exemptions. This is an increase from the current threshold of […]
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The IRS Provides Clarity on Uncashed Retirement Distribution Checks
Qualified retirement plan sponsors now have answers to a few of the questions they have tossed around for years about the tax treatment of uncashed retirement distribution checks. In Revenue Ruling 2019-19, August 14, 2019, the IRS provides guidance regarding […]
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Pension Financial Impact of Record Low Treasury Bond Rates
How will defined benefit pension plans fare as a result of the 30-year U.S. Treasury bond rates falling below 2.00% for the first time in U.S. history? This 100 basis point drop from the beginning of the year and the […]
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