Why employers are taking another look at life insurance as a fringe benefit
In their continuing effort to assemble the most enticing employee benefits package possible, some employers are showing renewed interest in an old favorite: group term life insurance. Although such life insurance coverage had fallen off the radar screens of some employers, it remains an affordable benefit that can pay off for employer and employees alike.Employer upsideFor you, the employer, the upside is considerable. Premiums you [...]
Upskilling: The next frontier in employee training
In the face of a tight job market and a widening skills gap, employers in many industries are catching on to the benefits of “upskilling.” More than just your typical employee training, upskilling takes a broad approach to development.It can involve teaching workers additional skills in areas related to but outside their current positions to help fulfill the employer’s existing or anticipated needs. Or it [...]
Changes ahead for 401(k) hardship withdrawal rules
Many employers sponsor 401(k) plans to help employees save for retirement. But sometimes those employees need access to plan funds well before they retire. In such cases, if the plan allows it, participants can make a hardship withdrawal.If your organization sponsors a 401(k) with this option, you should know that there are important changes on the way next year.What will be differentRight now, 401(k) hardship [...]