Blog Tag: employee benefits
COVID-19 has resulted in the most extensive case study on remote work. When the pandemic began affecting the U.S. workforce in mid-March, only 31% of employed Americans had worked from home. As of April 2, 2020, 62% of employed Americans were working from home (Gallup). These statistics clearly show that remote work has not been the norm for most. But as Americans adjust to working from home, this trend has the potential to become the new normal and broadly replace in-office work.
Over one-third of private sector workers in America do not have access to an employer-sponsored retirement plan.* To address this issue, President Trump signed an executive order to have the Department of Labor (DOL) examine policies that would expand access to multiple employer plans (MEPs).
SilverStone Group, the largest Nebraska-based insurance broker, recently announced that it was acquired by Hub International Limited (Hub), the fifth largest insurance broker worldwide. The transaction combines both entities’ shared expertise in employee benefits, risk management, retirement planning and wealth management, paving the way for greater localized service with a stronger global reach.
Health Savings Accounts (HSAs) were created to help people with high deductible health plans (HDHPs) pay out-of-pocket costs. Contributions to an HSA are pre-tax and can cover any qualifying medical expenses. But if you’re approaching age 65, you may have some questions about your HSA and Medicare. You are likely wondering, “Can I use both?”
Executive compensation plans can attract and retain great leaders, drive individual and business performance and reward results. Therefore, company directors, compensation committees and HR leaders need to invest time and energy to develop their plans. A successful plan should keep top talent in key positons, motivate performance and remain fiscally responsible. While designing an effective plan does require effort, the payoff is worth it. We’d like to outline some general steps you can take to start the process.
On Tuesday, September 24, 2019, the Department of Labor issued a final rule regarding overtime pay under the Fair Labor Standards Act (FLSA). Under the new rule, which will be effective January 1, 2020, any employee who makes less than $684 per week ($35,568 per year) will automatically be eligible to earn overtime pay.
Attracting and retaining good employees in today’s tight labor market can be a challenge. While competitive pay and good benefits are important, job seekers want the total package. They are looking for the ideal work environment – which includes work-life effectiveness. Total rewards strategies have traditionally focused on compensation and benefits, but it’s time for a change. Employees have expressed a desire for a healthy balance between their professional and personal lives, and that’s only possible through you – their employer.
Portions of the U.S. Department of Labor’s (DOL) Final Rule regarding Association Health Plans (AHPs) went into effect on January 1, 2019. It expands the availability of AHPs, allowing small businesses to band together and negotiate better deals when buying insurance for their members by broadening the definition of “employer.” States are reacting in extremely different ways. Learn more here.
Each year Omaha Magazine gives companies a chance to vote on other area organizations in the Best of Business-to-Business (B2B) contest. It’s an opportunity to showcase some of the top performing companies in Omaha. SilverStone Group is honored to receive the 2019 award for Best Employee Benefit Company. It's our 11th year in a row and this recognition is particularly meaningful, as it comes from our clients and colleagues. We appreciate all who took the time to cast their votes and recognize our team.