Updated as of May 14. 2020 LEGISLATIVE UPDATES – BREAKING NEWS Increased Flexibility with Respect to Midyear Elections Under a Section 125 Cafeteria Plan During Calendar Year 2020 Health FSA Carryover Amount Increased and Premium Reimbursements of Individual HRAs Clarified CARES Act – Sec. 2103. Special Rules for Use of Retirement Funds: CARES Act Understanding
We are delighted to announce that Northeast Professional Planning Group, Inc. (“NPPG”) welcomed Pinnacle Financial Services (“Pinnacle”) to the NPPG family of companies. With offices in New Jersey, New York, Florida, and Michigan, the combined NPPG-Pinnacle provides bespoke ERISA 3(16) administrative fiduciary services, employee benefits brokerage, retirement plan administration & actuarial consulting to businesses, government entities, non-profits and associations throughout the United States.
The Affordable Care Act (ACA) requires applicable large employers (ALE), who are those employers having at least 50 full-time employees (including FTEs – Full-time Equivalent Employees), to file information returns regarding the health insurance coverage that they offer with the Internal Revenue Service and to provide statements about their health insurance coverage to their full-time
Vetting fiduciary service providers is one of the most important processes that a plan sponsor can implement. By appointing the right ERISA 3(16) plan administrator, you will increase the chances that your plan will be successful, help meet your company’s financial goals, attract and retain top talent and ensure plan compliance. Choose the wrong partner
When offering employees a retirement plan it is not uncommon for plan sponsors to feel confused, overwhelmed or anxious trying to keep up with their responsibilities. Meeting deadlines, handling distributions, keeping track of forms and other documentation can all feel like too much to handle. Plus, the ever-changing compliance landscape has added another layer of
Of all the health insurance regulations, ERISA plan documentation regulations are one of the most misunderstood and one of the most costly for those who take a wrong turn — even unintentionally. In fact, the Department of Labor estimates that more than 75% of employers of corporate-sponsored health & welfare benefit plans are out of
Retirement plans can be complicated. With so many fiduciary responsibilities associated with a company’s retirement plan, it’s important to review best practices on a regular basis and familiarize yourself with the ever changing compliance landscape that comes with the role of a retirement plan fiduciary. Retirement Plan Fiduciary: Suggested Best Practices The experts at NPPG
If you are an employer offering health and welfare plans, get to know all the updates, rules and announcements from the Legislative Review prepared for Q2 2018. Here is what it covers: GRANDMOTHERED PLAN RELIEF THROUGH 2019 HEALTH SAVINGS ACCOUNT (HSA) MAXIMUM FAMILY CONTRIBUTION RELIEF COMMONSENSE REPORTING ACT H.R. 3919 AND S. 1908 NEW JERSEY
Recently, 17 large, higher-educational institutions have been sued by participants in their retirement plans for failure to properly provide oversight over the administration of those plans. The University of Chicago, one of the universities sued over retirement plans oversight, entered into a class action settlement for $6.5 million and changes to the University’s $3 billion
Confused about the different kinds of fiduciaries? You’re not alone. Not all fiduciary services are the same. NPPG Explains the Different Types of Fiduciaries and How to Find One That Fits Your Needs NPPG, VP of Fiduciary Services, Suzanne Miscik, was invited on stage by Ian Altman, B2B Sales Expert, keynote speaker at the 2018
