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).
The 9/11 terrorist attacks changed many things about our nation. In addition to the overwhelming loss of life and property destruction, the attacks upset our economy and rattled the insurance industry. With over $40 billion in covered loss, 9/11 is the largest insurance loss in global history. Terrorism insurance was a big topic after the attacks because coverage became either too expensive or unavailable. In response, the Terrorism Risk Insurance Act (TRIA) was signed into law in 2002.
With all the noise in Washington, many people ignore the chatter and only pay attention once something becomes law. When it comes to estate taxes, however, it’s time to listen up. Today’s higher estate and gift tax exemption ($11.58 million per individual for 2020) will become a thing of the past. Under current law, the exemption will automatically sunset on January 1, 2026, shrinking the amount to $5 million (adjusted for inflation). Worse yet, depending on the 2020 election, Congress may even vote to reduce the exemption further and sooner.
While parking spots and corner offices are nice perks, they may not be the best way to retain top talent. Executive compensation plans are often more effective at gaining loyalty and longevity from key employees. These benefit tools can get them more invested in the company, which can help ensure a more successful future for the business.
Medicare funding is largely misunderstood. Many people don’t know here the financing comes from or how it’s changed over the years. Most are just happy to count on government-provided health insurance once they reach age 65.
Amid the current Coronavirus pandemic, the U.S. (and much of the world) has been asked to practice social distancing. Many employers are doing their part by encouraging or mandating remote work. While some employees have experience working from home and will transition easily, many will need guidance.
The Coronavirus Disease 2019 (COVID-19) has quickly become a global emergency. Within the U.S., the Centers for Disease Control and Prevention (CDC) has reported over 3,400 cases. That number is growing each day, prompting a mass response to contain the spread. Experts are urging people to avoid unnecessary outings and work from home when possible. As a result, organizations across the country are implementing remote work policies. For some managers, however, this is their first experience with virtual team management. Many might feel unprepared for this sudden format change.
Finding an accomplished and trustworthy M&A advisor can be hard. This is particularly true for firms in the lower middle market (those with annual revenues between $20 million and $250 million). Deals of this size are often pushed to less qualified teams that struggle to provide sound purchase and sale guidance.
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.