Using flexible approaches for recruiting, rewarding and retaining talent. Finding “critical” value in non-qualified deferred compensation plans. And turning more frequently to high deductible health plans (HDHPs). These are just a few of the findings from Newport Group’s Compensation, Retirement and Benefits (CRB) Trends Report for 2018-19.
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Newport Group recently conducted a study of General Account BOLI policies to see how they performed versus comparable bank-eligible options. Find out how these BOLI policies fared.
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A group health plan is an employee welfare benefit plan established or maintained by an employer or by an employee organization (such as a union), that provides medical care for participants or their dependents directly or through insurance, reimbursement, or otherwise. Employers that offer health insurance benefits can either purchase health insurance from an insurance company (fully insured plans), or provide health benefits directly to employees (self-insured plans).
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Receiving a refund is usually the preferred solution when something doesn’t work out for the consumer. In the case of 401(k) plans, however, refunds aren’t necessarily a good thing. If a 401(k) plan fails required nondiscrimination testing, the business owners and higher paid employees may have to take a taxable refund of some of the salary deferrals they put into their plan account.
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