 Benchmarks Show.jpeg "Retirement Plans Looking More SECURE 401(k) Benchmarks Show")
The Setting Every Community Up for Enhance Retirement (SECURE) Act which was passed in the latter part of 2019, was designed to boost savings through 401(k) and similar retirement plans sponsored by employers. Plan data suggests that the law is on the right track to achieve this goal, as per the Plan Sponsor Council of America's (PSCA's) 64th Annual Survey of Profit-Sharing and 401(k) Plans report, which was released in December and basis its findings on the responses from 518 plans surveyed in 2021 about the prior plan year.
The average cost per employee cost of health insurance provided by the employer soared to 6.3 percent in 2021, as the employees and their families returned to treatment after avoiding it because of the pandemic, according to the HR consulting firm Mercer's 2021 national survey of Employer-sponsored Health Plans research published in December.
The IRS has increased the fee that sponsors or insurers of self-insured health plans pay annually to help fund the federal Patient-Centered Outcomes Research Institute (PCORI) trust fund. The fee for 2022 is due on August 1 since July 31 is on a Sunday this year.
As the border re-opened, businesses thrived but reported 'low confidence' in the future.
US-based F&B company, Kraft Heinz, plans to name its CEO Miguel Patricio as its Chair, provided he gets re-elected at the Kraft Heinz 2022 annual stockholders meeting.
There's no question that Senate Bill 973 created a stir on the California employers' landscape in the past. As a result, in November 2021, the DFEH started sending notices of non-compliance to employers who did not submit their pay data reporting snapshots for the fiscal 2020 year. About 35,000 notices have been issued since then, and it is believed that penalties will be imposed on those who did not comply with the requirements outlined within the notification.
The Phenomenon, known as the Great Resignation, continues, with 4.3 million U.S. workers quitting their jobs in December 2021. This is slightly less than the November record of 4.5 million and continues a streak of historically elevated churn, according to the monthly JOLTS report by the U.S. Bureau of Labor Statistics.
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