Get Ready for Paid Family Leave Effective January 1, 2018, New York State Paid Family Leave Program will provide New Yorkers job-protected, paid leave. Working families will no longer have to choose between caring for their loved ones and risking their economic security. But how does this impact you as the employer? This webinar will cover the new regulations for the Paid Family Leave law and how to prepare for it including: which employers are covered, and employees are eligible for benefits;  the differences between Paid Family Leave (PFL), Disability Benefits Law (DBL) and the Family Medical Leave Act (FMLA); and  what employers should do to get ready. Thursday, May 18 at 11:00 a.m. CLICK HERE to register PRESENTERS: Wesley Price Sales Account Executive Employee Benefits HANYS Benefit Services Wesley is responsible for assisting clients with health and welfare benefits, and any other area of human resource consulting. Before joining HBS in 2009, Wes worked in the insur...

Pension Risk Transfer: Why Now? Healthcare finance executives are faced with many challenges. One such challenge is managing the inherent liability and cost associated with their Defined Benefit Pension Plan. This webinar will focus on pension risk transfer (PRT) strategies and why now may be the right time to implement them. Join this special webcast to learn: pension de-risking concerns and solutions;  what PRT steps are available now to plan sponsors; and  why plan sponsors should consider acting now to take advantage of these strategies.  CLICK HERE to register Wednesday, May 24 at 11:00 a.m. PRESENTERS : Peter Margiotta Vice President, Business Development HANYS Benefit Services Michael E. Devlin  Principal BCG Pension Risk Consultants

by Wesley Price Voluntary benefits have been around for several decades. These are coverages and products made available to employees for elective purchase at the employee’s expense. Over the years, as the cost of health insurance has continued to increase, employers have shifted the portfolio of offerings from employer-paid to voluntary. As a result voluntary benefits has evolved from being limited to main core benefits like dental, vision, and life insurance to including accident insurance, disability and critical illness. Additionally, new benefits are emerging based on growing demand, such as pet insurance, fraud protection and legal services. The administration of employee benefits has also evolved. Previously, new enrollment into plans would require personnel onsite to enroll, educate and deliver the policies causing a potentially cumbersome disruption to an organization’s daily operations. The expansion of online enrollment has taken the burden out of the enrollment process, mak...

by Wesley Price Voluntary benefits have been around for several decades. These are coverages and products made available to employees for elective purchase at the employee’s expense. Over the years, as the cost of health insurance has continued to increase, employers have shifted the portfolio of offerings from employer-paid to voluntary. As a result voluntary benefits has evolved from being limited to main core benefits like dental, vision, and life insurance to including accident insurance, disability and critical illness. Additionally, new benefits are emerging based on growing demand, such as pet insurance, fraud protection and legal services. The administration of employee benefits has also evolved. Previously, new enrollment into plans would require personnel onsite to enroll, educate and deliver the policies causing a potentially cumbersome disruption to an organization’s daily operations. The expansion of online enrollment has taken the burden out of the enrollment process, mak...

Background: 457(f) and 457(b) plans are non-qualified deferred compensation plans for eligible highly-compensated employees. A non-qualified plan is a type of tax-deferred, employer-sponsored retirement plan that is not subject to Employee Retirement Income Security Act (ERISA) guidelines. Non-governmental 457 plans are not required to file Form 5500 since they are not subject to ERISA, but they are required within 120 days of the plan’s existence to file a one-time notification (“top hat letter”) with the Department of Labor. These plans are exempt from the non-discrimination testing that is required for qualified plans. In 1986, Section 457 was added to the Internal Revenue Code (IRC) to specifically address the unique needs of the not-for-profit sector. The rules address governmental plans sponsored by state or local governments and non-governmental plans sponsored by tax-exempt organizations under Section 501(c). This frequently-asked question (FAQ) document will specifically addre...

HANYS Benefit Services wants to help you stay compliant with our  2017 Retirement and Employee Benefits Compliance Calendar . Compliance is just one of many services HBS provides, including Plan Design,Plan Provider Management, and Co-Fiduciary Services. If you have any questions regarding compliance requirements or their application to your plan, contact us at (800) 388-1963 or at  hbs@ hanys.org .

PLANADVISER Magazine has named HANYS Benefit Services (d/b/a Strategic Benefit Services) as one of its 2017 Top 100 Retirement Plan Advisers . HANYS Benefit Services has been awarded in the categories for large teams with $4 billion or more in retirement plan assets under advisement, and large teams with 180 retirement plans or more under advisement. The PLANADVISER Top 100 Advisers is an annual list of the retirement plan advisers and adviser teams that stand out in terms of a series of increasingly stringent quantitative measures. In addition to being honored by the recognition, being named as a Top 100 Retirement Plan Adviser for the second year validates our commitment to our clients. We strive to build real relationships with our clients, creating a shared fiduciary responsibility with the companies we advise. HANYS Benefit Services has been providing retirement services to organizations for more than four decades. We provide trusted advisory and consulting services including pla...