Word on Benefits

Fiduciary Basics for Governmental Plans

Amanda Wilke, CEBS

20 Aug 202420 Aug 2024

Plan sponsors have a responsibility to protect the interests of employee and retiree participants in their benefit plans. Government plan sponsors for 457 and 401(a) defined contribution (DC) retirement plans should be aware of fiduciary basics and the latest trends to protect […]

Employee Benefits Health Care Insurance U.S.

Employers Project 8% Rise in Health Care Costs for 2025

Cara McMullin

15 Aug 202415 Aug 2024

U.S. employers project a median health care cost increase of 8% for 2025, according to International Foundation of Employee Benefit Plans survey results. This is an increase over similar surveys conducted in 2022 and 2023, which projected a 7% rise in costs. […]

DOL ERISA Legislative U.S.

The Supreme Court and the Chevron Doctrine: Key Takeaways for Employee Benefit Plans

Kathy Bergstrom, CEBS

14 Aug 202414 Aug 2024

Employee benefit plan sponsors and administrators may feel the effects of the U.S. Supreme Court’s decision to overturn the so-called Chevron doctrine for many years to come, predicts Katherine Hesse, CEBS, an Employee Retirement Income Security Act (ERISA) attorney. Hesse, who is […]

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Inclusive Family-Forming Benefits: Definition of Infertility

Jenny Gartman, CEBS

07 Aug 202407 Aug 2024

According to Employee Benefits Survey: 2024 Results, to be released the end of August 2024, 42% of U.S. organizations currently offer fertility benefits (an increase from 40% in 2022). While fertility benefit offerings are more prevalent, there are varied reasons plan participants […]

401(k) Plans Defined Contribution (DC) Plans Investments Multiemployer Retirement U.S.

The Multiemployer Retirement Plan Landscape: DC Takeaways

Justin Held, CEBS

01 Aug 202401 Aug 2024

According to The Multiemployer Retirement Plan Landscape: A 15-Year Look (2006-2020), the average defined contribution (DC) plan account balance increased from $23,400 at the end of 2006 to $54,100 at the end of 2020, while aggregate disbursements also grew. The increase in […]

Compliance Employee Benefits ERISA ERISA50 Legislative U.S.

ERISA Preemption 101

Jenny Gartman, CEBS

31 Jul 202401 Aug 2024

Hailed by its authors as the law’s “crowning glory” or “crowning jewel,” the preemption clause in the Employee Retirement Income Security Act of 1974 (ERISA) was designed to help simplify employee benefits administration for multistate employers. But what does ERISA preemption mean? […]

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Thriving Together: Wellness and Group Benefits in Hybrid and Remote Work

Tim Hennessy

30 Jul 202430 Jul 2024

Once viewed as a rare perk, working from home (WFH) became necessary for many during the pandemic. Despite the benefit’s popularity among many workers and businesses, some organizations have reverted their WFH policies amid fears of losing productivity and collaboration, replacing flexible […]

Canada Mental Health U.S. Wellness

Human Nature: Wellness Benefits of the Outdoors

Rebecca Plier

26 Jul 202426 Jul 2024

It should come as no surprise that the spaces we occupy every day have a huge impact on our overall wellness. The Environmental Protection Agency and Vancouver Coastal Health report that Americans and Canadians spend about 90% of their time indoors. But […]

Canada Compliance Employee Benefits Health Care Legislative Regulatory

Cross-Country Benefits Update

Eli Argueta

24 Jul 202424 Jul 2024

The 2024 Canadian Legal and Legislative Update kicked off with a comprehensive cross-country benefits update delivered by Kiersten Amos, counsel at McInnes Cooper, and Michael Wolpert, partner at Fasken Martineau DuMoulin. These updates covered a range of legislation affecting benefit plans across […]

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Cyber Insurance: Do You Have It? Do You Need It?

Kathy Bergstrom, CEBS

23 Jul 202423 Jul 2024

The frequency and costs of data breaches continue to rise globally, with the average price tag of a data compromise reaching US$4.45 million in 2023, according to a recent report from IBM Security. Cyber insurance can help protect your organization from bad […]