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PLANSPONSOR BLINESs LOGO December 19th, 2023
Information & Insights for the 403(b) Community
US Hospitals Boost Pay, Benefits to Combat Rampant Nurse Turnover
US Hospitals Boost Pay, Benefits to Combat Rampant Nurse Turnover
More hospitals are implementing sign-on bonuses, increasing minimum wage scales and adding attractive benefits in order to retain health care professionals.
NY Governor Signs Bill to Allow Auto-Enrollment of NYC Board of Education Employees
New and existing employees will be automatically enrolled into the pension plan beginning late next year.
Ask the Experts
What Are the Withholding Rules for Small 403(b) Rollover Balances?
Q: Our ERISA 403(b) plan automatically cashes out small balances (less than $5,000) of terminated employees, with rollovers to an IRA for balances between $1,000 and $5,000. It is our understanding that these are all eligible rollover distributions subject to 20% withholding if not rolled over; however, our recordkeeper says that is not the case for distributions less than $200. Is our recordkeeper correct?
Unum Group Sees Early Success With Emergency Savings Program
The insurance provider launched its emergency savings program in April, allowing participants to contribute up to $10,000 to the account each year.
Adviser, Insurance Industries at Odds During DOL Fiduciary Proposal Hearing
After two days of hearings, the fiduciary adviser rule has been strongly criticized by the insurance industry but broadly supported by the adviser industry and consumer advocates.
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