Month: June 2024
Innovative’s 5th Annual Well-Being @ Work Summit Recap
On May 7th, 2024 Innovative Benefit Planning hosted their 5th Annual Well-Being @ Work Summit, an event dedicated to making workplaces healthier, at the National Constitution Center in Philadelphia, PA! The morning started out on the right foot with breathwork and gentle stretching lead by Spencer Broad. Out on the...
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Navigating Auto-Portability in Retirement Plans: Key Fiduciary and Liability Considerations Under SECURE Act 2.0
The introduction of auto-portability rules under SECURE Act 2.0 aims to simplify transferring small retirement accounts when employees change jobs, reducing cash-outs and enhancing retirement savings. However, plan sponsors must consider fiduciary and liability implications before adopting this feature. Fiduciary Responsibilities Plan sponsors are fiduciaries under the Employee Retirement Income...
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PCORI Fee Due July 31, 2024
The Patient-Centered Outcomes Research Institute (PCORI) fee deadline is around the corner. In Notice 2023-70, the IRS adjusted the applicable dollar amount to be multiplied by the average number of covered lives for purposes of calculating the fee for policy years and plan years that end on or after October 1, 2023, and...
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