Retirement

About 80% of employees say they want to work for a company that offers a repayment program.

A recent trend has seen DB plan sponsors transferring a portion of their plan obligations to insurance companies through the purchase of annuity contracts for the benefit of affected participants.

Clients should plan to replace roughly 80% of their pre-retirement income after they leave the workforce for good.

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Relying solely on software platforms to choose health plans and enroll employees without expert interaction can cost time and money, and can even lead to compliance issues.

Giving employees the right tools and advice can help to address the retirement savings gap, Mercer says.

In 2017, just 4% of companies offered student loan repayment assistance, but the industry is expected to grow to 26% by 2019, according to SHRM.

ERISA reporting must be filed by July 31 or an extension must be filed on the same date by employers to avoid penalties.

Make sure workers understand that a 401(k) rollover could trigger a hefty tax bill, and that liquidating assets before the age of 59 1/2 could mean a hefty penalty.

Relying solely on software platforms to choose health plans and enroll employees without expert interaction can cost time and money, and can even lead to compliance issues.