By July 1, 2012, plan sponsors should have received fee disclosure data from their plan service providers under the U.S. Department of Labor’s (DOL) final rule, Reasonable Contract or Arrangement Under Section 408(b)(2) – Fee Disclosure.
By August 30, 2012, plan sponsors must disclose plan facts and investment fees to participants, including a summary of the administrative and individual expenses charged against participant accounts, under the DOL’s final rule Fiduciary Requirements for Disclosure in Participant-Directed Individual Account Plans.
By November 14, 2012, plan sponsors must issue the first of required quarterly statements of fees deducted from individual accounts, initially reflecting fees deducted during the third quarter.
Below are 10 questions to consider in complying with the new rules, plus answers to these common uncertainties.… Read more
Many employers need extra help during the summer but, whether you’re hiring teenagers under the age of 18 for seasonal or year-round positions, there are a few things to keep in mind to make sure things go smoothly… Read more
The hiring of new employees can be sort of like walking a tightrope. It is important to find the right candidate with the qualifications and integrity to do the job, but in today’s hiring climate it’s impossible to accept clients at face value. To be effective in hiring practices involves delving into the background of applicants to get a better idea of their abilities and employment performance. However, this has to be measured with respect for the privacy of each individual candidate as well as staying compliant with relevant laws. The purpose of the background check is to help evaluate aptitude and skills and needs to be carried out with this the primary goal… Read more
Tags: Background Checks, Employee Benefits, Hiring Best Practices, Human Resources
Virtually every employer will be contacted at some point by a potential new employer of an ex-employee, seeking information regarding the ex-employee. How much information should the employer give? Should the employer simply provide confirmation of the dates of employment, or should an honest evaluation of the ex-employee’s performance be given, or should the employer refuse to give any information whatsoever? The answer, as so often happens, is not as simple as it may seem… Read more
Tags: Employee Benefits, Employee References, Employer Liability, Hiring Best Practices
Vacation season is coming. You understand the importance of a relaxing vacation to your employees’ morale and energy. And you probably need a break yourself. But that doesn’t change the fact that vacations can disrupt work for everyone still in the office.
Here’s how to keep your workplace productive and efficient when people are “tripping” out… Read more
Tags: Employee, Employer, Human Resources, Vacation