To meet the growing need in the New York City area, HANYS Benefit Services (HBS), an industry leader with more than 45 years of providing trusted advisory services, retirement plan offerings, and best-in-class employee benefits products, recently expanded operations to a new location in Melville, New York. HBS hired a new team of executives, led by Peter Margiotta, Vice President, Client Relationship Development, to deepen access to senior executives for New York City area clients. “We are very excited to have Peter on board, leading the charge to strengthen our downstate presence,” said James Kelley, HBS President. “HBS strives to build real relationships with our clients, creating a shared fiduciary responsibility with the companies we advise. Having a full team based in Melville will allow us to better serve our New York City clients in this capacity.” Peter Margiotta has more than 25 years of experience in the retirement benefit planning industry, specializing in retirement plans ...

The recent U.S. Supreme Court ruling in Tibble vs. Edison has been described as “historic,” “ground-breaking,” and even “revolutionary.” The significant attention this case has generated is due in large part to the fact that a case about retirement plans reached the Supreme Court and that the Supreme Court unanimously overturned the lower courts’ decisions. Yet, the underlying premise behind the decision in this case is not particularly glamorous. It is very familiar to us all: the fiduciary responsibilities of a plan sponsor. The key points of the case are as follows: Mr. Tibble argued that his employer, Edison International, acted imprudently by including higher-cost retail mutual funds in the retirement plan when lower-cost institutional-class funds were available. Both the District Court and the Ninth Circuit Court ruled that the six-year statute of limitations precluded the claims from being brought. The Supreme Court overturned the lower courts’ rulings and declared that “a fi...

The Internal Revenue Service (IRS) recently announced modified correction methods for errors relating to automatic contribution features, including automatic enrollment, automatic escalation, and employee elective deferrals in both 401(k) and 403(b) plans. The correction methods in the new Revenue Procedure 2015-28 are in addition to those previously identified in Revenue Procedure 2013-12. These new correction methods will encourage employers to more readily include automatic enrollment features in their defined contribution plans. BACKGROUND: ELECTIVE DEFERRAL FAILURES Defined contribution plans with automatic enrollment or automatic escalation must take deductions from employees as soon as possible after enrollment. An “elective deferral failure” occurs if an employer fails to implement deductions properly or in a timely manner because: the eligible employee was not automatically enrolled; the employee’s deferral election was not properly implemented; the deferral percentage was ...

We have a powerful agenda including Bruce Tulgan and Stuart Levine, internationally recognized keynote speakers for our 2015 Human Resources Conference, Embrace, Engage, Elevate—Leading High-Performing Talent , which will be held April 23-24 at the New York Marriott at the Brooklyn Bridge. Listen to an excerpt from one of Bruce Tulgan’s recent appearances and an interview with Stuart Levine on ABC World News This Morning .  I am sure you will find both Bruce and Stuart informative, empowering, and energizing. This program has been approved for 9 HR General recertification credit hours toward CA, GPHR, HRBP, HRMP, PHR, and SPHR recertification through the HR Certification Institute.  The complete agenda and reservation details are available online. We look forward to seeing you at the Conference.

We have a powerful agenda including Bruce Tulgan and Stuart Levine, internationally recognized keynote speakers for our 2015 Human Resources Conference, Embrace, Engage, Elevate—Leading High-Performing Talent , which will be held April 23-24 at the New York Marriott at the Brooklyn Bridge. Listen to an excerpt from one of Bruce Tulgan’s recent appearances and an interview with Stuart Levine on ABC World News This Morning .  I am sure you will find both Bruce and Stuart informative, empowering, and energizing. This program has been approved for 9 HR General recertification credit hours toward CA, GPHR, HRBP, HRMP, PHR, and SPHR recertification through the HR Certification Institute.  The complete agenda and reservation details are available online. We look forward to seeing you at the Conference.

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.