Starting January 1, 2021, plan sponsors must begin counting hours for part-time employees who work at least 500 hours a year. Employees who work 500 hours for three consecutive years must be offered the opportunity to participate in their organization’s 401(k) plan beginning in 2024.
Strategic Benefits Advisors makes list of Atlanta’s top employee benefits and compensation companies for second year
For a second consecutive year, Strategic Benefits Advisors has been named to the Atlanta Business Chronicle’s list of the top 20 employee benefits and compensation companies in Atlanta.
New SBA service fills plan sponsors’ need for pandemic-friendly, cost-effective sourcing of third-party benefit service providers
Travel restrictions and budgetary constraints caused by the global coronavirus pandemic have led some plan sponsors to put vendor search projects on hold. SBA’s Arm’s-Length Vendor Search service helps organizations make informed vendor selections and meet their due diligence and fiduciary obligations without having to assess vendors in person.
SBA publishes guidance on which CARES Act provisions require immediate action by health and retirement plan sponsors
Plan sponsors will need to coordinate with healthcare providers immediately to begin complying with the law’s mandatory provisions. While most retirement plan provisions are optional, they are nonetheless time-sensitive and call for coordination with the plan sponsor’s recordkeeper and actuary.
UPDATE: Trump enacts biggest changes to employer-sponsored retirement plans in over a decade
The SECURE Act has been signed into law by President Trump. The law’s provisions, most of which go into effect January 1, will affect the way DC and DB plans are administered in 2020 and beyond.
UPDATE: SECURE Act could be passed into law by week’s end
Now poised to pass the Senate, the SECURE Act — as part of Congress’s omnibus spending bill — could be inked by the President as soon as week’s end. It represents the most significant retirement legislation in more than a decade.
UPDATE: Secure Act logjam shows no signs of immediate resolution
Passed by the House with a nearly unanimous margin of 417 yeas to 3 nays this June, and despite holding the consent of 97 of 100 senators, the SECURE ACT may not be passed by the Senate in 2019. Here’s the latest.
Strategic Benefits Advisors named among Atlanta’s top employee benefits and compensation companies
Strategic Benefits Advisors has been named to the Atlanta Business Chronicle’s list of the top 20 employee benefits and compensation companies in Atlanta.
New bill targets employer-sponsored retirement plans
Pending legislation could significantly revise the rules for employer-sponsored retirement plans. SBA summarizes key provisions of the bill and their potential impacts on both plan sponsors and participants.
Mary Shah named principal at Strategic Benefits Advisors
Strategic Benefits Advisors (SBA) today announced the appointment of retirement plan consultant Mary Shah as its newest principal. Shah’s promotion recognizes a track record of outstanding client service delivery and business development contributions since joining SBA.