REGISTER TODAY HANYS Benefit Services Human Resources Conference Embrace, Engage, Elevate:  Leading High-Performing Talent Human resources’ top thought leaders offer the latest insights and ideas on guiding your workforce through compliance, key retirement plan topics, total rewards, employee engagement, and more! Session topics will include: Current Direction of Workforce and Executive Compensation Programs Technology Impact on Employee Benefits Strategic Change Management Getting the Most Value Out of Your Retirement Program in Today’s Challenging Environment Legal Developments and Updates Leadership Development and Coaching a Motivated and Engaged Workforce Healthcare 2.0 – Post-ACA Group Health and Welfare Benefits Trends * SHRM & HRCI Strategic Credits Pending When:      April 22:  6 p.m.  – Welcome Reception                  April 23:  8:30 a.m. – 5 p.m. – Sessions; Dinner to follow   ...

HANYS Benefit Services (HBS), has challenged ourselves to take an introspective look at not only what we do, but why we do it. Many retirement advisory firms offer similar services, so we developed a new video to demonstrate how our approach to advisory services distinguishes us from other retirement advisory firms. Deeply ingrained in our corporate culture is the belief that putting the interests of our clients first and foremost is paramount. Staying true to our lineage, we are able to carry that philosophy through to our clients with our advocacy approach to retirement and benefits advisory services. “Our advocacy approach allows us to build real relationships with our clients, creating a shared fiduciary responsibility between HBS and the member organizations we advise,” said James J. Kelley, HBS President. If you have any questions about the video , or would like to speak with an advisor, please get in touch by calling (800) 388-1963 or via e-mail at  hbs@hanys.org.

HANYS Benefit Services (HBS), has challenged ourselves to take an introspective look at not only what we do, but why we do it. Many retirement advisory firms offer similar services, so we developed a new video to demonstrate how our approach to advisory services distinguishes us from other retirement advisory firms. Deeply ingrained in our corporate culture is the belief that putting the interests of our clients first and foremost is paramount. Staying true to our lineage, we are able to carry that philosophy through to our clients with our advocacy approach to retirement and benefits advisory services. “Our advocacy approach allows us to build real relationships with our clients, creating a shared fiduciary responsibility between HBS and the member organizations we advise,” said James J. Kelley, HBS President. If you have any questions about the video , or would like to speak with an advisor, please get in touch by calling (800) 388-1963 or via e-mail at  hbs@hanys.org.

When it comes to reducing retirement plan expenses, there is no time to waste! Saratoga Hospital wanted to quickly establish a solid fiduciary process. Read about  Saratoga Hospital’s challenges with its retirement plan, and how HANYS Benefit Services was able to reduce its retirement plan expenses and ensure it is in compliance with ERISA regulations. If you have any questions or would like to speak with an advisor about reviewing or establishing a plan, please contact us at (800) 388-1963 or via e-mail at  hbs@hanys.org.

The Internal Revenue Service (IRS) has recently released the contribution limits on Qualified Retirement Plans for 2015. HANYS Benefit Services created the  attached chart  that details these contribution limit increases. If you have any questions about the COLA Limits, or would like to speak with an advisor about reviewing or establishing a plan, please contact us at (800) 388-1963 or via e-mail at hbs@hanys.org.

HANYS Benefit Services’ 2014 Retirement Plan Survey uncovers significant uncertainty among employers about retirement plan administration. The survey—which sought to identify significant trends in retirement plan services—found: Nearly 80% of respondents said they were unsure if their plan advisor was acting in a fiduciary capacity; 17% percent of respondents were unsure how their advisors were compensated; and one quarter said they were unsure how often their plan went out to bid—with 22% indicating their plan had never been put out to bid. “Legal and regulatory changes can make it difficult to stay ahead of the fiduciary responsibilities associated with maintaining a retirement plan,” said James J. Kelley, President, Strategic Benefit Services. “However, this survey helped identify key best practices that can not only lead to an increased level of fiduciary protection for plan sponsors, but also result in improved employee participation and outcomes in retirement plans.” The survey ...

According to the 2014 Retirement Plan Survey conducted by HANYS Benefit Services, approximately one-half of the responding retirement plan sponsors offer automatic enrollment. Offered in conjunction with automatic escalation, such features can positively impact participant behavior and improve retirement readiness. This article examines some best practices to be considered when implementing automatic features in defined contribution plans that can produce greater results per dollar of employer cost. Background The utilization of automatic features in defined contribution plans has increased significantly since they were first introduced as part of the Pension Protection Act of 2006 (PPA). More plans are adopting these provisions, resulting in higher participation rates among employees. Although this is a positive trend, certain design features actually thwart the success that could otherwise be achieved. Specifically: relatively low default deferral rates result in lower savings;...