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-- Home Contact Us (800) 388-1963 about us retirement plan services employee benefits resources news Contact Us Today Sunday, December 27, 2020 The Biden Administration and Healthcare The Biden administration will inherit the coronavirus pandemic, and while this remains a top priority for both the Biden administration and many Americans, the administration also hopes to address and expand health care access. In addition to addressing COVID-19, the Biden administration's core focus is to expand the ACA incrementally. Employers should begin to consider how this administration’s platform might affect healthcare and employee benefits. This article explores the Biden administration's proposed COVID-19 response, general healthcare platform and top agenda items. For more information on healthcare and employee benefits changes, read this edition of Benefits Insights and contact by email or by calling (800) 388-1963. This is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2020 Zywave, Inc. All rights reserved. Posted by Marketing at 2:00 AM Labels: COVID-19 , Employee Benefits , Partner Post Friday, December 18, 2020 New York State Enacts Paid Sick Leave Law New York state has enacted a sick leave law that, depending on their size, requires employers to provide between 40 and 56 hours of paid leave per year for reasons relating to the health and safety of the employee or the employee’s family. Employers with fewer than five employees and an annual income no greater than $1 million may satisfy the law’s leave requirement by providing unpaid leave of 40 hours annually. Employees begin accruing leave on Sept. 30, 2020, but may not use the leave until Jan. 1, 2021. Leave is accrued at the rate of one hour for every 30 hours worked; the law contains frontloading and carryover provisions. Read more » Posted by Marketing at 6:28 PM Thursday, November 5, 2020 Q3 Market Recap: Investor Optimism Amid the Pandemic The U.S. equity market recovery that began on March 24 continued in earnest in Q3. However, the Index performance masks significant underperformance in the industries that continue to be impacted by the pandemic. Any failure of the presidential election process to determine a clear winner will likely provide fuel for near-term volatility. Read the Q3 Market Recap for a brief review of the market performance and chart shows the average annualized return for the S&P 500 Index under the presidential terms dating back to Franklin Roosevelt. Also included is an article describing how has been Staying Connected to Meet Retirement Goals in spite of the pandemic. If you have any questions, or would like to begin talking to a retirement plan advisor, please get in touch by email or by calling (800) 388-1963. Posted by Marketing at 2:00 AM Labels: Investment strategy , Market Recap , Retirement Advisory Services Tuesday, October 27, 2020 Innovating through crisis: How going virtual helped us improve customer service Like so many companies, COVID-19 totally upended how we do business. Our education team’s calendar is usually filled with on-site client visits, allowing them to provide face-to-face guidance to employees on retirement plans. Not so much in 2020. This year, we’ve been pushed to think outside the box, to reimagine how we provide support and education and to establish a new normal for how we do business. Moving online Shifting focus to video and phone calls is the (relatively) easy part. Scheduling and logistics of said calls – that’s where things can get tricky. Read more » Posted by Marketing at 2:00 AM Monday, October 19, 2020 Addressing student loan debt: Trailblazing companies and possible legislation A handful of companies have led the way when it comes to student loan debt assistance for their employees. There’s also legislation pending in Washington that could impact the issue. Watch episode #2 in our video series: For Your Benefit with . We’re taking a closer look at two such companies that have come up with creative, new employee benefits solutions to tackle the issue and possible legislation coming down the pike. The trailblazers: Abbott Labs and Fidelity Abbott Labs Read more » Posted by Marketing at 2:00 AM Labels: Retirement Advisory Services Tuesday, October 6, 2020 The Impact of COVID-19 on Open Enrollment Employers can expect major disruptions to open enrollment this year due to the coronavirus (COVID-19) pandemic. As such, employers should stay apprised of current trends and begin preparing sooner rather than later. Trends to Watch Many organizations are expected to hold entirely virtual open enrollment due to the coronavirus. Virtual enrollment has been trending for several years, and the COVID-19 pandemic is helping to solidify its prominence. A virtual enrollment process typically includes an onlineenrollment platform for selecting benefits, hosting remote meetings between employees and HR, and downloading benefits resources. Also, many employers are meeting current employee needs through supplemental health plans with an emphasis on overall well-being. Adding optional health benefits can be a way to limit additional employer spending and provide assistance to employees who need it. Ways Employers Can Prepare Open enrollment isn’t always a clear-cut process. Employers can review the following strategies and consider how similar initiatives might improve their own open enrollment efforts: Reach out to employees to determine what kind of enrollment process will work best for them. Confer with management about any operational restrictions that may influence open enrollment. Meet with stakeholders to solidify what the enrollment process will look like. Inform all stakeholders about the enrollment process and where to find benefits resources. Communicate to employees about open enrollment using multiple channels. Speak with today for additional open enrollment resources. Contact by email or by calling (800) 388-1963. This is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2020 Zywave, Inc. All rights reserved. Posted by Marketing at 4:26 AM Labels: COVID-19 , Employee Benefits , Partner Post Tuesday, September 29, 2020 2021 Benefits Planning and COVID-19 As the COVID-19 pandemic continues to wage on, its effects on benefits planning for next year are being felt—especially as open enrollment season approaches. According to Mercer's Global Survey #5, 20% of employers surveyed said updating benefits programs to better meet employee needs was an HR area in which companies are seeing an increased need for support. In addition to considering plan design changes, employers are having to evaluate and adjust their benefits packages for 2021. Some of the most common changes being made for the 2021 enrollment season are outlined in this article. Potential Cost Increases and Plan Designs Employers and benefits experts are bracing for cost increases headed into 2021. Health care premium costs have increased at a steady rate over the past few years, with the most recent average increase being around 6%. Actuaries at Willis Towers Watson predict up to a 7% increase in health care premiums in 2021 for both self-funded and fully insured employers. 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