Benefit Insight Newsletter Fall 2018 Newsletter Hardships Get a Little Easier?Earlier this year, the Bipartisan Budget Act of 2018 was passed by Congress and signed into law. Effective January 1, 2019 there are three primary changes. Notably, it is no longer necessary to suspend an employee salary deferralHelping HandsOne of the most prevalent and difficult challenges for many twenty somethings these days is the repayment of their, often substantial, student loan debt. Statistics show that the average college graduate with a bachelor’s degree left school in 2016 with $28,446 in student loan debt. Cost of Living AdjustmentsEvery Fall, the coming year’s Cost-of-Living Adjustments (COLAs) are released by the Internal Revenue Service. The benefit increases counteract the effects of inflation and keep up with the “cost of living”.'Tis the SeasonIt’s the time of year when Plan Sponsors scramble to deliver the myriad notices required to be given to their participants. Even with the help of service providers, the sheer number of notices can be overwhelming. Port in the StormNatural disasters can cause upheaval in many aspects of victims’ lives and this destruction often extends to financial matters. What should otherwise be routine compliance for plan deadlines can prove difficult in these extreme events and the government tends to grant temporary relief in such cases. Click Benefit Insight Newsletter Fall 2018 to read more! Summer 2018 Newsletter Retirement Income Gap?Many American workers participate in company retirement plans, methodically contributing to their accounts over time to fund for life after work. Beyond benefiting from employer-funded plans, retirees commonly draw from additional savings tucked away in IRAs or after-tax savings accounts as well. Add Social Security payments to the mix and it should be a recipe for a secure retirement, right? Helpful Hints for Plan SponsorsBeing a plan sponsor comes with a good bit of responsibility. You’ve taken the important step of hiring a third-party administration firm to help you navigate the myriad of processes that are required to keep your plan in compliance with applicable regulations.Click Benefit Insight Newsletter Summer 2018 to read more! Spring 2018 Newsletter Who is an Employee?Maintaining a retirement plan for your employees is no easy task. At various points during the year, employers and HR departments field participant questions, help with enrollments, deliver notices and statements, and participate in the distribution process. However, an additional responsibility, and one of the most important, is the collection of data that is used for compliance testing and government reporting. HSA vs 401(k)If your company has decided to offer a high deductible health plan, don't worry, you are not alone. Recent studies show that an increasing number of employers have elected to offer high deductible health plans (HDHP) either to completely replace or be offered in conjunction with a more traditional Health Maintenance Organization (HMO) plan or Preferred Provider Organization (PPO) plan. Click Benefit Insight Newsletter Spring 2018 to read more!