We have the following observations about the impact of the novel coronavirus outbreak on markets. First identified in Wuhan, China, in December 2019, cases of COVID-19 continue to climb. Though this coronavirus presents unique challenges, New York’s hospitals and health systems have extensive experience successfully managing outbreaks. In the past 20 years, they have been leaders in tackling the 2003 SARS outbreak, the 2009 influenza pandemic (“swine flu”), the 2014 Ebola outbreak and others. The vast majority of cases have been in mainland China. However, with more confirmed cases being reported across the globe this week, concerns have become more widespread, particularly after the Centers for Disease Control and Prevention cautioned about the potential impact in the United States. As this coronavirus outbreak has spread to six of the world’s seven continents, fear has overtaken the markets, causing extreme selling pressure across equities and commodities. The flight to safety has in...

We have the following observations about the impact of the novel coronavirus outbreak on markets. First identified in Wuhan, China, in December 2019, cases of COVID-19 continue to climb. Though this coronavirus presents unique challenges, New York’s hospitals and health systems have extensive experience successfully managing outbreaks. In the past 20 years, they have been leaders in tackling the 2003 SARS outbreak, the 2009 influenza pandemic (“swine flu”), the 2014 Ebola outbreak and others. The vast majority of cases have been in mainland China. However, with more confirmed cases being reported across the globe this week, concerns have become more widespread, particularly after the Centers for Disease Control and Prevention cautioned about the potential impact in the United States. As this coronavirus outbreak has spread to six of the world’s seven continents, fear has overtaken the markets, causing extreme selling pressure across equities and commodities. The flight to safety has in...

The Family and Medical Leave Act (FMLA) is a federal law that allows eligible employees to take unpaid leave for a variety of personal circumstances. Due to the numerous regulations and complexities of the FMLA, administering FMLA leave can be a daunting task for many HR departments. In an effort to make FMLA administration more accurate and efficient, many employers have opted to outsource their leave programs to outside vendors. Why Do Companies Outsource FMLA Administration?  Many small companies struggle to find the time and resources required to properly train staff on FMLA administration, and employers who deny eligible employees leave or violate FMLA requirements could face hefty fines and legal repercussions. As a result, HR representatives will sometimes grant too much leave to employees out of fear that an eligible employee’s leave request might accidentally be denied. While this practice might spare companies from finding themselves in serious legal trouble, it can also ...

The Family and Medical Leave Act (FMLA) is a federal law that allows eligible employees to take unpaid leave for a variety of personal circumstances. Due to the numerous regulations and complexities of the FMLA, administering FMLA leave can be a daunting task for many HR departments. In an effort to make FMLA administration more accurate and efficient, many employers have opted to outsource their leave programs to outside vendors. Why Do Companies Outsource FMLA Administration?  Many small companies struggle to find the time and resources required to properly train staff on FMLA administration, and employers who deny eligible employees leave or violate FMLA requirements could face hefty fines and legal repercussions. As a result, HR representatives will sometimes grant too much leave to employees out of fear that an eligible employee’s leave request might accidentally be denied. While this practice might spare companies from finding themselves in serious legal trouble, it can also ...

U.S. equities continued to roar leading into 2020. The Federal Reserve reversed course on monetary policy in 2019, stimulating both the economy and securities markets. Read the  Q4 Market Recap  for a brief review of the 2019 stock market performance and outlook for 2020. Also included is an update on important provisions in the Setting Every Community Up for Retirement Enhancement (SECURE) Act. 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.

U.S. equities continued to roar leading into 2020. The Federal Reserve reversed course on monetary policy in 2019, stimulating both the economy and securities markets. Read the  Q4 Market Recap  for a brief review of the 2019 stock market performance and outlook for 2020. Also included is an update on important provisions in the Setting Every Community Up for Retirement Enhancement (SECURE) Act. 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 Setting Every Community Up for Retirement Enhancement (SECURE) Act After spending most of 2019 on hold in Congress, the SECURE Act was passed and signed into law on December 20. This is the largest retirement reform act since the Pension Protection Act in 2006 and has a broad focus on improving both the reach and quality of retirement plans, as well as updating several individual tax rules. While most changes require no immediate action, it’s important for plan sponsors to be aware of changes that may soon impact them. Here is a chart with the most significant changes: Topic Summary Considerations Effective Date Multiple employer plans (MEPs); Pooled employer plans Perhaps the most significant portion of the bill provides an updated structure to facilitate open multiple employer plan arrangements, or “pooled employer plans” for unrelated employers. The Act also provides relief from plan disqualification by eliminating the “one bad apple” rule, which held all e...