The Live Well, Work Well newsletter is an employee newsletter that is produced monthly and covers topics like health, wellness, fitness, nutrition and personal finance. This month's newsletter discusses celebrating holidays safely during the pandemic, how to reduce holiday stress and holiday decorating safety tips. Holiday traditions are important for many families, and we're about to enter the second holiday season during the pandemic. Recently, the Centers for Disease Control and Prevention (CDC) released guidelines for safely celebrating this year's holiday season. The CDC's top advice is for eligible Americans to get the COVID-19 vaccine before gathering and traveling for the holidays. Additionally, the CDC shared the following recommendations for the upcoming holiday season: Select a safe location. Consider wearing masks. Get tested as needed. Travel with caution. Download the Live Well Work Well December Newsletter to read more about celebrating holidays safely d...

The crises and challenges of the pandemic have put mental health in the spotlight for employers, and 2022 should remain a critical time for workplace mental health. Employees aren’t getting a mental break as the pandemic evolves. Employers continue to work on ways to address short- and long-term mental health issues as their employees live through the pandemic. Fortunately, the mental burden of the COVID-19 pandemic has enabled more transparency and empathy around the topic, especially in the workplace. So, what is mental health? An employee’s mental health includes how they think, feel and act, and it includes their emotional and social well-being. While mental health includes mental illness, the two aren’t interchangeable. An employee can go through a period of poor mental health but not necessarily have an evident, diagnosable mental illness. Additionally, an employee’s mental health can change over time, depending on their workload, stress and work-life balance. Employers should be...

No matter the company’s size, its day-to-day needs can feel overwhelming for HR leaders, especially when faced with issues like team vacations and evolving role duties—or new responsibilities due to COVID-19. On top of that, many HR departments are small—they may even operate as a department of one—and have been stretched to the brink during the pandemic. Fortunately, HR technology can help address today’s challenges by easing burdens on HR professionals, enhancing the overall employee experience, improving workflows and assisting organizations in responding to change. HR technology can seem intimidating at first; however, much of what employers use today is user-friendly. When planning how to create efficiencies in 2022 and beyond, employers can consider how current HR technology trends might create an opportunity for their workplace. 2022 Tech Trends Looking ahead to 2022, here are some ways that employers are integrating tech into HR processes or building upon their existin...

Employee retention is a top concern as we enter a post-pandemic world. As the pandemic progresses, high numbers of workers have left their jobs for better compensation, benefits and work environment factors, such as work-life balance and remote or hybrid arrangements. This reality has impacted employers, who struggle to attract and retain the talent they need. As employers develop and evolve their return-to-work plans, critical retention factors must be thoughtfully included to navigate the current talent shortage. Why Do Employees Stay? Why Do Employees Leave? What Can Employers Do? Download the  HR Edge Q4 2021 Newsletter  to learn answers to these questions and also about 2022 HR technology trends and the importance of mental health in the workplace. For more human resources trends, industry insights and proactive strategies to maintain a competitive edge in today’s workplace, contact HANYS Benefit Services by  email  or by calling 518.431.7735. This is not intend...

Developed markets remain flat while emerging markets struggled in Q3. As the third quarter of 2021 came to a close, U.S. stocks eked out a small 0.58% gain, with the S&P 500 Index posting its seventh consecutive quarterly gain since the first wave of COVID-19. Emerging markets (-8.1%) reversed sharply as mounting regulatory uncertainty in China pressured the broad market. Read the Retirement Market Recap to learn more about the Q3 market performance and weak links in the supply chain that are hampering global growth. If you have any questions, or would like to begin talking to a retirement plan advisor, please get in touch by email or by calling (800) 388-1963.

The Live Well, Work Well newsletter is an employee newsletter that is produced monthly and covers topics like health, wellness, fitness, nutrition and personal finance. This month's newsletter discusses cold and flu season. With the fall and winter months comes flu season. According to the Centers for Disease Control and Prevention (CDC), flu activity peaks between December and February, so now’s the time to ensure you’re prepared. Social distancing and mask mandates significantly prevented a “twindemic” last year as the flu season coincided with the ongoing COVID-19 pandemic. Those safety measures helped prevent a majority of flu cases. However, as more states and businesses lift mask mandates and other preventive measures, the flu virus may circulate much more freely than it did last yea r.  Download the  Live Well Work Well November Newsletter  for safety measures to manage the cold and flu season, as well as tips on the importance of a good night's sleep and meal prep...

Health experts and many business leaders agree that vaccination is the most effective way to protect against COVID-19- related operational disruptions. Yet, a large number of workers still aren’t vaccinated. This is forcing employers to toe the line between respecting employee viewpoints and protecting their businesses. While vaccine encouragement is still commonplace, organizations are now doing more to up their vaccination rates. Specifically, they are employing a variety of incentives , penalties and mandates to get this done.  Employer Takeaway Employers will need to decide which approach to vaccination is right for them. Health experts and business leaders alike agree that employee vaccination is critical for long-term operational success; the trick is knowing how much and through which methods to pressure employees.  Reach out for employee resources to help educate and encourage workers about the importance of COVID-19 vaccines. Read the Attraction and Retention newslett...

Recently, President Joe Biden signed executive orders requiring federal workers and contractors to get vaccinated against COVID-19. Now, the Occupational Safety and Health Administration (OSHA) has been directed to issue an emergency temporary standard (ETS) imposing similar requirements for private employers. According to the White House, the rule will require all businesses with 100 or more employees to ensure workers are either tested for COVID-19 once a week or fully vaccinated. At this time, the OSHA ETS is still in development. This checklist is a jumping-off point for your organization as you prepare for the upcoming rule. Not all items will apply to all employers in every circumstance. For more information, contact HANYS Benefit Services by  email  or by calling (800) 388-1963.

On Oct. 6, 2021, the IRS issued Notice 2021-58 , which clarifies the application of certain COBRA deadline extensions for electing COBRA coverage and paying COBRA premiums under prior relief that was issued as a result of the COVID-19 outbreak. Standard COBRA Deadlines COBRA Election Deadline The standard deadline for individuals to elect COBRA coverage is typically within 60 days of receiving a COBRA election notice.   Premium Payment Deadline The standard deadline to make COBRA premium payments is generally at least 45 days after the  date of the initial COBRA election, with a grace period of at least 30 days for subsequent payments. Extended COBRA Deadlines Emergency Relief The Emergency Relief disregards the standard COBRA deadlines until the earlier of: (1) one year from the date individuals were first eligible for relief; or (2) the end of the Outbreak Period.   Notice 2021-58  On Oct. 6, 2021, Notice 2021-58 clarified that the disregarded periods to elect COBR...

When employees are new to Medicare or changing their existing coverage, understanding the different Medicare programs can make them feel overwhelmed. Through our new partnership with USA Medicare Consultants, HBS clients have a valuable resource to answer all their Medicare questions, identify the best coverage options, and assist with enrolling employees in a plan that makes the most sense for them. Since 2007, the team at USA Medicare Consultants has been offering individuals expert guidance about how to secure the most appropriate Medicare coverage. We can help answer your questions about Medicare. For more information on healthcare and employee benefits changes, contact HANYS Benefit Services by  email  or by calling (800) 388-1963.

Remote work is here to stay. What spawned out of necessity during the beginning of the COVID-19 pandemic has turned into a must-have for many employees. In fact, 60% of employees said they’d quit rather than return to their in-person offices, according to a Flexjobs survey— only 2% said they’d like to return to in-person work full time. These statistics illustrate how valuable employees find remote working arrangements.  Here are some tips to help set remote employees up for success: Provide extensive training materials Celebrate remote employees’ success  Check in on remote employees frequently Provide in-person workstations Encourage remote employees to communicate frequently with their direct supervisors  Include remote workers in workplace activities Remote employees face unique challenges when working from home. Taking a proactive interest in their success can help them feel more included and reduce burnout. Reach out to HBS for remote employee resources that can hel...

Each quarter, the Attraction and Retention newsletter offers statistics about the employment market, suggestions on securing top talent and insight to attract and retain workers. This month's Attraction and Retention newsletter offers insights into how COVID-19 vaccines are impacting employers, tips for remote worker success and the value of upskilling employees.  Download your copy today . For more information on healthcare and employee benefits changes, contact HANYS Benefit Services by  email  or by calling (800) 388-1963. This is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2021 Zywave, Inc. All rights reserved.

According to the World Health Organization, breast cancer became the most common cancer this year, accounting for 12% of all new cancer cases worldwide. In addition, breast cancer is the most frequently diagnosed cancer among American women. However, some men are also at risk for breast cancer. dyTewfKKEqcMCKEmHfgZgaE8wMW+SSwc27JvS/v23KTJgkoXFsu+P+c7Ol5vDoMTe0zZBl/LVVlJ gV4HY31Xy4/tS3EvRSbwBlzwWMsjZrlprq/W22PELHjb51r2RPFBqax7HCCXIaLnThvSAMTP1KkI +gs6VLdVdad08ISeCho1ZLN+whZ2jsTzgcsnJwldluLxNDiyagkxOquB2Knae/OLUsyEkjenmdzb mG/YhlRnCWPnb8C898bRJGtQvEOiVxjYhtLOxs8AySiT4JuDystlVV4WPeM6tK3VaILeDZxIOSsu ti/jidNGNZ3/J08yC1dNv9v8AAAA//8DAFBLAwQUAAYACAAAACEArTA/8cEAAAAyAQAACwAAAF9y ZWxzLy5yZWxzhI/NCsIwEITvgu8Q9m7TehCRpr2I4FX0AdZk2wbbJGTj39ubi6AgeJtl2G9m6vYx jeJGka13CqqiBEFOe2Ndr+B03C3WIDihMzh6RwqexNA281l9oBFTfuLBBhaZ4ljBkFLYSMl6oAm5 8IFcdjofJ0z5jL0MqC/Yk1yW5UrGTwY0X0yxNwri3lQgjs+Qk/+zfddZTVuvrxO59CNCmoj3vCwj MfaUFOjRhrPHaN4Wv0VV5OYgm1p+LW1eAAAA//8DAFBLAwQUAAYACAAAACEAXt2YoMgIAAAYjAAA HwAAAGNsa...

Many households were stressed about their finances before the pandemic, but the past year has remained just as challenging. As a result, many Americans are still financially stressed out, which can negatively impact their mental health. If you are experiencing financial stress, know that you’re not alone. Financial anxiety and stress can be debilitating. Consider these coping tips from the U.S. Department of Labor: Increase your financial literacy. Create a budget—and stick to it. Switch from credit to cash. Address the topic head-on. Download the Live Well Work Well October Newsletter . For more information on healthcare and employee benefits changes, contact HANYS Benefit Services by email or by calling (800) 388-1963. Further, if you’re feeling significant stress, talk to a mental health professional for additional guidance and support. This is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2021 Zywave, Inc. All rights rese...

With the COVID-19 vaccine becoming much more widely available across the country, the topic of returning to in-person work, school and other activities is being discussed constantly. However, the country's reopening coincides with the spread of the Delta variant of the coronavirus, which accounts for more than half of all COVID-19 cases in recent weeks. Returning to pre-COVID life amid this latest development can understandably cause feelings of uncertainty or re-entry anxiety. If you’re feeling anxious as you transition back to your pre-COVID-19 life, consider the following five coping tips: Start small Set boundaries Make a post-pandemic bucket list Do what makes you happy Take care of yourself Download the Live Well Work Well September Newsletter for information on pandemic re-entry anxiety, cholesterol and breathing exercises for anxiety. For more information on healthcare and employee benefits changes, contact HANYS Benefit Services by email or by calling (800) 388-1963. This...

As more Americans get vaccinated, states have gradually lifted restrictions, and some people are resuming in-person interactions and everyday pre-pandemic activities. Individuals may finally be tackling tasks they’ve been postponing for more than a year. Unfortunately for employers looking to retain employees, some employees are now ready to find new jobs. Given the high cost of losing an employee, retention should be a top priority for every organization. Employee retention is even more of a concern as we enter a post-pandemic world. Download the  HR Edge Q3 2021 Newsletter to learn how to retain employees post-pandemic, the increasing demand for pet insurance and open enrollment 2021. For more human resources trends, industry insights and proactive strategies to maintain a competitive edge in today’s workplace, contact HANYS Benefit Services by email or by calling (800) 388-1963. This is not intended to be exhaustive nor should any discussion or opinions be construed a...

The 2021 PLANADVISER Top 100 Retirement Plan Advisers list is out—and HANYS Benefit Services is on it!  PLANADVISER’s Top 100 Retirement Plan Advisers is an annual list of noteworthy retirement plan specialists, based on number of plans and total assets under advisement — including sponsors of defined contribution, defined benefit and nonqualified plans. “Each recognition by PLANADVISER reaffirms our commitment to our clients.” said James J. Kelley, president, HBS. “HBS conducts business in a manner that is in the best interests of our clients, with an ultimate goal of assuring our clients’ employees are ready for retirement. We are grateful to our clients for allowing us that opportunity.” HBS is categorized by PLANADVISER as a large team, having met this year’s eligibility standards of $5 billion or more retirement plan assets under advisement. HBS was previously named to PLANADVISER’s list in 2019, 2017 and 2016.  HBS is a full-service, independent consulting firm, register...

The U.S. equity markets delivered exceptional performance again in the second quarter of 2021. The U.S. economy is rebounding from the pandemic more powerfully than expected--growing at a rate not seen since the early 1980s. Read the Q2 Market Recap to learn more about the drivers of the Q2 record-breaking market performance, including a chart on the three- and five-year annualized performance differentials between the equity and fixed income indices. If you have any questions, or would like to begin talking to a retirement plan advisor, please get in touch by  email  or by calling (800) 388-1963.

As millions of Americans get vaccinated against COVID-19 and businesses resume normal operations, people are likely making plans to travel this summer. If you’re trading your staycation for a getaway, here are some tips to keep you as safe as possible this summer:  Get vaccinated. Stay domestic.  Take a road trip. Explore the outdoors.  Check travel restrictions.  Keep up with COVID-19 safety precautions. CDC Travel Considerations If you are fully vaccinated against COVID-19 and travel within the United States, the CDC says you do not need to get tested or self-quarantine after travel. If you are traveling with young children who aren’t eligible yet for vaccination, check out these CDC recommendations. The Long-term Effects of COVID-19 It’s been more than a year since the pandemic began, and we continue to learn more about the short- and long-term health effects of COVID-19. Although most people get better within weeks, some people experience long COVID-19—a wi...

The COVID-19 pandemic is finally getting under control. As more Americans get vaccinated, states are gradually lifting restrictions, and life is returning to pre-pandemic normalcy. Finally, individuals can get to the tasks they’ve been postponing for more than a year. Unfortunately for employers looking to retain employees, some employees are now ready to find new jobs. Experts are predicting a “turnover tsunami” coming in the latter half of 2021; all the turnover that would typically take place in a given year is expected to come virtually all at once. Read this edition of  HR Insights  for an outlook on the current job market, a perspective on what employees want post-pandemic and considerations for preventing turnover. For more information on healthcare and employee benefits changes, contact HANYS Benefit Services by email  or by calling (800) 388-1963. This is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice....

Each quarter, the Attraction and Retention newsletter offers statistics about the employment market, suggestions on securing top talent and insight to attract and retain workers. This edition discusses varying return-to-work strategies, provides tips for strategic recruiting and offers ways to improve employee mental health.  Download your copy today . For more information on healthcare and employee benefits changes, contact HANYS Benefit Services by  email  or by calling (800) 388-1963. This is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2021 Zywave, Inc. All rights reserved.

The Environmental Working Group's 2021 Dirty Dozen List Is Here Nearly 70% of non-organic produce sold in the United States contains pesticide residue, according to the EWG. Every year, the EWG ranks pesticide residue levels of fruits and vegetables based on samples taken by the U.S. Department of Agriculture and the Food and Drug Administration, publishing the results in the Shopper’s Guide to Pesticides in Produce. Download the  Live Well Work Well July Newsletter  for a list of the most pesticide-tainted produce, which is known as the “ Dirty Dozen .” In addition to the Dirty Dozen, the EWG publishes the “ Clean Fifteen ,” highlighting the “cleanest” produce. For more information on healthcare and employee benefits changes, contact HANYS Benefit Services by  email  or by calling (800) 388-1963. This is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2021 Zywave, Inc. All rights reserved

New York State’s Health and Essential Rights Act (NY HERO Act) was passed to prevent occupational exposure to airborne infectious diseases. The NY HERO Act, covering all private employers in the state, was signed into law on May 5, 2021 and amended on June 11, 2021.  Employer Requirements: Establish an airborne infectious disease exposure prevention plan that equals or exceeds the minimum standards in the model standard Post the plan in a visible and prominent location in the workplace and make it available to employees Permit employees to establish and administer a joint labor-management workplace safety committee For more information on the New York State’s Health and Essential Rights Act, read this  Compliance Bulletin  and contact HANYS Benefit Services by  email  or by calling (800) 388-1963. This Compliance Bulletin is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel for...

Retirement plan administration has advanced in recent decades with the rise of the Internet and other digital technologies. However, that has made retirement plans a target for cyber criminals. Armed with stolen personal data, hackers now see trillions of American retirement dollars as a new favorite target. The retirement industry has had to strengthen its defense against cyberattacks and, as a natural extension of this effort, the due diligence practices of plan sponsor fiduciaries have entered the spotlight. The U.S. Department of Labor released new cybersecurity guidance for plan sponsors in April and is already making it a priority topic of audits as DOL underscores the “obligation to ensure proper mitigation of cybersecurity risks.” The DOL guidance includes: Tips for hiring a service provider with sound cybersecurity practices: These tips include asking about the service provider’s security standards, evaluating any historical breaches or litigation and seeking favorable contra...

As we move into summer, many will want to exercise outdoors to stay active and get some fresh air. That’s great news, as experts recommend at least 150 minutes of moderate aerobic activity each week. Working out in hot and humid weather can put extra stress on your body; however, there are simple precautions you can take to protect yourself. Avoid the hottest part of the day. Wear light-colored clothing.  Apply sunscreen.  Stay hydrated with water. Replenish your electrolytes.  Listen to your body. Download the Live Well Work Well June Newsletter for more details on how to safely exercise outside during the summer. As always, talk to your doctor before you start a new exercise regimen. For more information on healthcare and employee benefits changes, contact HANYS Benefit Services by email or by calling (800) 388-1963. This is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2021 Zywave, Inc. All rights reserved

Hybrid workforce strategies will factor into HR planning this year and beyond. The pandemic has resulted in thousands of employees working from their kitchen tables or living rooms rather than the office or other workplace. If that’s the case, organizations are likely in or will be in the process of deciding how much remote work will continue to play into the workplace. Furthermore, a hybrid model is becoming a growing standard for many organizations in some capacity—and might even be a common long-term option. Hybrid workplaces can look very different based on the organization’s priority of the following factors: Talent access Individual productivity Team productivity Cost of real estate Download the HR Edge Q2 2021 Newsletter to learn the challenges and advantages of hybrid workplaces and additional features on the Strategic Employee Communication and Preparing for Future Health Crises . For more human resources trends, industry insights and proactive strategies to maintain a compe...

The equity rally that began in November of last year with the much-anticipated Pfizer vaccine announcement continued in earnest in the first quarter of 2021. Most of the market trends first observed in late 2020 persisted through Q1, thereby ending market domination by select high-growth technology companies. As Congress passed the American Rescue Act, the Wall Street Journal survey of 60 economists raised its prediction for the growth rate of the U.S. economy in 2021 to 5.95%. The survey increased its prediction for 2021 growth three times during Q1, an indication of the rapidly improving economic conditions. Read the  Q1 Market Recap to learn more about the Q1 market performance. Also included is the feature article, Active versus passive investing styles . If you have any questions, or would like to begin talking to a retirement plan advisor, please get in touch by  email  or by calling (800) 388-1963.

The Internal Revenue Service’s Tax Exempt and Government Entities division issued a “Program Letter” that outlines its priorities for the 2021 fiscal year. The letter supplements the “Fiscal Year 2020 Compliance Program Letter,” which outlines the IRS’ examination initiatives. While the letters list several initiatives, among particular interest with respect to retirement plans are the following: Internal Revenue Code Section 403(b)/457 Plans: Examine 403(b) plans for universal availability, excessive contributions and proper use of catch-up contributions under IRC Section 414(v); and examine 457(b) plans for excessive contributions and proper use of the special three-year catch-up contribution rule. This strategy began in FY 2020. Small exempt organizations that sponsor retirement plans: Review retirement plans of small exempt organizations to determine whether the plan investments are properly administered, whether there are any party-in-interest transactions in the plan trust and w...

More than half of adults in the United States will experience mental illness at some point in their life. Mental illnesses can occur occasionally, while others are chronic. Mental Health Awareness Month, observed every May, is a time to raise awareness about mental health, break the stigma and support people with mental illness. One way to improve your mental health is through self-care. Self-care looks different for every person since it involves doing things that you enjoy or need.  Download the Live Well Work Well May Newsletter for some ideas for how to practice self-care. If you have concerns about a loved one’s or your mental health, contact a doctor or mental health professional.  For more information on healthcare and employee benefits changes, contact HANYS Benefit Services by email or by calling (800) 388-1963. This is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2021 Zywave, Inc. All rights reserved

  Each quarter, the Attraction and Retention newsletter offers statistics about the employment market, suggestions on securing top talent and insight to attract and retain workers. The 2nd Quarter 2021 Attraction and Retention newsletter focuses on balancing employee heath when returning to work, provides recruiting strategies amid COVID-19 and offers tips for reducing burnout. Download your copy today . For more information on healthcare and employee benefits changes, contact HANYS Benefit Services by email or by calling (800) 388-1963. This is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2021 Zywave, Inc. All rights reserved.

Observed every April, Alcohol Awareness Month is meant to raise awareness about alcohol use and break the stigma by discussing how alcohol-use disorders affect individuals, families and communities. This year is especially critical as COVID-19 restrictions and stress can increase your susceptibility to substance misuse, addiction and relapse. In fact, alcohol sales in the United States have grown nearly 30% in the last year. Alcohol abuse can affect both your personal and professional life. Prolonged drinking puts you at risk for developing serious health complications—such as high blood pressure, heart disease, liver disease and stroke—and can trigger other life-threatening consequences. Know the Warning Signs Alcohol use disorder can be mild, moderate or severe, based on the number of symptoms you experience. Keep in mind that symptoms often occur at the same time. Download the  Live Well Work Well April Newsletter  to learn the common physical and behavioral signs and sympt...

Employers may provide their employees with various types of paid or unpaid leave as part of their overall compensation package, including vacation time, personal leave and sick leave. Employers have some flexibility when it comes to establishing or negotiating employee leave policies. However, federal laws (for example, the Family and Medical Leave Act, or FMLA) require covered employers to provide employees with leave in certain situations. In addition to federal leave laws, New York has laws regarding: Family leave; Paid sick leave; Civic duty leave; Voting leave; Military and military spouse leave; Bone marrow and blood donation leave; Adoptive parents leave; Bereavement leave; Domestic violence leave; and Emergency responder leave. Read this Employment Law Summary for a chart that provides a high-level overview of New York’s employee leave laws and suggested compliance steps for employers. For more information contact HANYS Benefit Services by  email  or by calling (800) ...

The American Rescue Plan Act (ARPA), signed into law March 11, 2021, provides a 100% subsidy of premiums for employer-sponsored group health insurance continued under the Consolidated Omnibus Budget Reconciliation Act of 1986 (COBRA) and similar state continuation of coverage (mini-COBRA) programs. ARPA subsidies cover the full cost of COBRA or mini-COBRA premiums from April 1, 2021, through Sept. 30, 2021, for employees (and their qualifying family members), if the employee lost or loses group health insurance due to an involuntary job loss or reduction in work hours. The subsidy applies to people who are still within their original COBRA or mini-COBRA coverage period, for the length of that coverage period, even if they declined or dropped COBRA or mini-COBRA coverage earlier. The subsidy does not apply to: Individuals whose job loss was voluntary or the result of gross misconduct ; or Individuals who are eligible for another group health plan or Medicare. The subsidies ar...

On March 11, President Joe Biden signed the American Rescue Plan Act. This $1.9 trillion coronavirus relief bill includes provisions for much-needed aid for single employer and multiemployer defined benefit plans. For single employer DB plans, the total value of all participants’ accrued benefits as of the beginning of the year is known as the plan’s “funding target.” The value of the increase in the funding target from the beginning of the year to the end of the year is the “target normal cost.” The excess of the funding target over the total amount of the plan’s assets is considered a “funding shortfall.”   To ease the burden of funding shortfalls for single employer DB plans, plan sponsors were permitted to amortize (spread) contributions needed to make up for these shortfalls over seven years. The American Rescue Plan Act allows plan sponsors to extend this period to 15 years.  Since the required contribution a plan sponsor must make equals the target normal cost plus...

  Even the most optimistic person will concede that the world won’t be returning to exactly how it was before the coronavirus pandemic. Despite the uncertainties, employers have an opportunity to assess the current benefits landscape and take stock of improvement areas. In other words, what’s changing and how might that impact the marketplace down the road? Cost Increases Expansion of Virtual Health Care Changes to HSA Marketplace This article will examine how drastically these things and more have shifted during the coronavirus pandemic and what shake-ups to expect in the future. For more information on healthcare and employee benefits changes, read this edition of  Benefits Insights  and contact HANYS Benefit Services by  email  or by calling (800) 388-1963. This is not intended to be exhaustive nor should any discussion or opinions be construed as professional advice. © 2021 Zywave, Inc. All rights reserved.

  The foods and beverages you consume have a significant impact on your health. In fact, 60% of adults have one or more diet-related chronic diseases. The newly released Dietary Guidelines for Americans (2020-2025) offers science-based nutrition advice to develop healthy eating habits and reduce chronic disease risk. The latest guidance provides four overarching guidelines that encourage healthy eating patterns and recognize that individuals will need to make shifts in their food and beverage choices to achieve a healthy pattern. Make every bite count and consider the following: Follow a healthy dietary pattern at every life stage. Customize your foods and beverages to reflect personal preferences, cultural traditions and budgets.  Focus on meeting food group needs with nutrient-dense foods and beverages, while staying within calorie limits.  Limit foods and beverages high in added sugars, saturated fats and sodium.  Everyone can benefit from a healthy eating patter...

As a result of the COVID-19 pandemic, working parents have been forced to contend with their children’s changing school routines. Unfortunately, these routines vary by school, with little universal guidance. On top of that, many schools continue to go back and forth between virtual and in-person learning. The uncertainty surrounding school routines and their impact on working parents will undoubtedly continue to have ripple effects in the workplace. Accommodation Considerations for Employers Although the specifics will vary, consider the following methods for accommodating working parents: Expanded remote work opportunities Flexible scheduling Generous time off policies Robust EAP offerings Transparent and frequent communication Download the HR Edge Q1 2021 Newsletter for detailed guidance related to working parents and additional features on the Impact of Employer Branding and Understanding Generation Z . For more human resources trends, industry insights and proactive strategies to...

In 2020, we struggled through the worse pandemic in more than 100 years, causing the greatest turbulence in the global economy and financial markets since 1945. U.S. policymakers swiftly countered the economic aspects of the crisis with the most aggressive fiscal and monetary stimulus on record. The technology sector fast-tracked new digital and communication solutions, and the pharmaceutical and biotech industries created scientific solutions with unprecedented speed. In the final months of 2020, we witnessed the emergence of new market trends. Read the Q4 Market Recap to learn the emerging market trends in Q4 2020 and preview the market indicators at the start of 2021. Also included is the feature article, Volatility and risk: Are they the same and why does it matter? If you have any questions, or would like to begin talking to a retirement plan advisor, please get in touch by  email  or by calling (800) 388-1963.

In 2020, we struggled through the worse pandemic in more than 100 years, causing the greatest turbulence in the global economy and financial markets since 1945. U.S. policymakers swiftly countered the economic aspects of the crisis with the most aggressive fiscal and monetary stimulus on record. The technology sector fast-tracked new digital and communication solutions, and the pharmaceutical and biotech industries created scientific solutions with unprecedented speed. In the final months of 2020, we witnessed the emergence of new market trends. Read the Q4 Market Recap to learn the emerging market trends in Q4 2020 and preview the market indicators at the start of 2021. Also included is the feature article, Volatility and risk: Are they the same and why does it matter? If you have any questions, or would like to begin talking to a retirement plan advisor, please get in touch by  email  or by calling (800) 388-1963.

HANYS Benefit Services does not believe there is a single definition or statistic that appropriately defines risk for investors, especially when it comes to the nuances of investing for retirement. Instead, we focus on both the art and the science of evaluating risk, and how both approaches can help investors make informed decisions. Statistical measures (the science) primarily focus on an investment’s historical price movement, which can shed light on the predictability, or lack thereof, of an investment’s returns. Understanding one’s own circumstances (the art) can be a great complement to the science in deciding what risks an investor should take on as they prepare for retirement. What is volatility? A popular interpretation of risk is a statistical measure called standard deviation, which measures how wide an investment moves around its average price; or said differently, the dispersion of its returns. Lower standard deviation percentages indicate that the majority of the returns i...