Does Your Business Have a Retirement Plan?

A recently published study found that less than half of small businesses with under fifty employees provide their staff with a retirement plan. The survey also revealed that among businesses that employed more than 100 employees, however, retirement plans were available to 90% of employees. If you aren’t yet offering a retirement plan for your employees, there are many reasons …

A Comprehensive Guide to PEOs and Why Your Business Would Benefit from Using One

Many small businesses are taking advantage of professional employer organizations or PEOs. These organizations are basically a way to outsource human resources for small businesses that do not have the staff or time to take care of HR functions. A PEO assumes most of or all of the aspects of human resources for a business. This includes hiring, payroll, health …

How to Attract and Retain Female Leaders in the Workplace

According to statistics from the U.S. Department of Labor , women comprise 51.5 percent of all managerial and professional jobs and are estimated to account for 51 percent of the overall increase in labor force growth from 2008 to 2018. Additionally, many of these women are also mothers responsible for the care and well-being of their children. If businesses want …

Colorado ranks sixth-best in the country

A report released by The Commonwealth Fund, found that Colorado’s health care system ranks sixth-best in the country. Colorado jumped five spots in the organization’s Scorecard on State Health System Performance from before the Affordable Care Act to the present. That was the fifth-largest jump among all states. The Scorecard ranks states on more than 40 measures of health system …

American Health Care Act

On March 9, 2017 the House approved the American Health Care Act—to replace tax elements of the Affordable Care Act (ACA)—by a vote of 23-16. The Act suggests various amendments to the current Affordable Care Act in place including: reducing employer mandate penalty, reducing individual mandate penalty, creating a continuous coverage requirement surcharge, delaying excise tax, repealing health insurance tax, …

MassMutual RetireSmart Mobile App

MassMutual is dedicated to continuous innovation, with the goal of helping participants retire on their own terms. We’ve been working on some exciting new enhancements for them here at MassMutual, including the launch of MassMutual’s RetireSmart mobile app. The free app is available for Android and Apple devices, and can be found by searching “RetireSmart” or “MassMutual” in the app store. …

2015’s 401(k) Contribution Limit Increases to $18,000

The Internal Revenue Service announced today that contribution limits for 401(k) plans and individual retirement accounts will increase due to cost-of-living adjustments.  The maximum amount of contributions an employee can make to their 401(k) plan is determined each year by the IRS.  “Many of the pension plan limitations will change for 2015 because the increase in the cost-of-living index met …

2014’s 401(k) Contribution Limit Unchanged at $17,500

The Internal Revenue Service has announced that contribution limits for 401(k) plans and individual retirement accounts will stay the same in 2014. The maximum amount of contributions an employee can make to their 401(k) plan is determined each year by the IRS. “Some pension limitations such as those governing 401(k) plans and IRAs will remain unchanged because the increase in …

401k Safe Harbor Provision Changes

The IRS has amended it’s rules on Safe Harbor contributions to allow employers to terminate the match during these hard times. On May 18 the Internal Revenue Service (IRS) published proposed regulations that could provide relief to employers whose plans provide for safe harbor non-elective contributions. The relief allows employers to amend their plan to reduce or suspend future safe …

401k Plan Changes

Tax Treatment of Refunds Changing for 2008 Beginning with the 2008 plan year, ADP and ACP refunds attributable to the 2008 plan year are taxable in the year of distribution. Therefore, for the 2008 plan year, refunds distributed between January 1, 2009 and March 15, 2009 are taxable in 2009, the year distributed (as opposed to the year contributed). Also …