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Friday, September 18, 2020

Cobleskill Regional Hospital named 2020 Plan Sponsor of the Year

Congratulations to Cobleskill Regional Hospital on being named PLANSONSOR’s 2020 Plan Sponsor of the Year in the nonprofit defined contribution <$500 million category!

Cobleskill's 403(b) plan focused on employees’ wellness. This goes beyond physical wellness and influences the 403(b) plan’s design and approach to educating employees. “Retirement readiness and financial wellness are woven into the fabric of our culture,” says Christine Pirri, vice president, nonclinical operations.

As their plan adviser, HANYS Benefit Services meets often with Pirri and Cobleskill employees for a financial wellness check-up and to explain how a defined contribution plan gives an employee the ultimate responsibility for his own retirement outcome “Once people get that message, they’re much more interested in understanding, ‘How can I make this work?’” says Carol Idone, vice president, consulting, HBS.

The Plan Sponsor of the Year annual award program recognizes retirement plan sponsors that show a commitment to their participants’ financial health and retirement success.

HBS is proud to have worked with Christine Pirri and Cobleskill Regional Hospital to help develop a plan focused on the employee's overall financial well-being!

Tuesday, September 15, 2020

Preparing for an Unprecedented Open Enrollment Period

Open Enrollment Trends to Watch

Expect major disruptions to open enrollment this year. From an operational standpoint, COVID-19 might surge in the fall and force states to reclose businesses. From a personnel standpoint, employees may not be comfortable returning if they feel unsafe in the workplace. These are two worst-case scenarios, but they exemplify the multitude of potential disruptors stemming from COVID-19 this enrollment period.

Tuesday, September 8, 2020

For Your Benefit video series: Episode 2-The monkey on our backs pt.2





Thank you for joining for another episode in our video series: For Your Benefit with HANYS Benefit Services.

Hear from leading experts as we share insight on the employee benefit topics and trends that matter most.

In episode 2, we’re expanding on the student loan debt conversation we started in part one, taking a look at some creative solutions companies are using to tackle this major issue.


Tune in to each episode as we discuss regulations, investments, compliance and all things benefits.

If you have any questions on content from our video or would like to begin talking to a retirement plan advisor, please get in touch by email or by calling (800) 388-1963.

Tuesday, August 25, 2020

Virtual Open Enrollment Fairs


Open enrollment fairs are a great way for employers and benefits providers to help employees understand and enroll in the benefits programs that meet their needs. These fairs are typically done in person, and they allow employees to learn about available benefits and discuss offerings with providers. Just as the COVID-19 pandemic may be changing what employees need for benefits, the format of open enrollment events should change, too.

With open enrollment season around the corner and many organizations extending work-from-home policies, a virtual open enrollment fair may be necessary. This article explores benefits and best practices for organizations moving their open enrollment events online.

Thursday, August 13, 2020

Q2 Market Recap: Extraordinary Times - Extraordinary Markets

With the majority of Americans sheltering in place at the beginning of the second quarter, what reasonable person would have forecast that the S&P 500 Index would have appreciated 20.54%, for its best quarterly performance since its inception in 1957?

The extraordinary turnaround from the February-March bear market restored most of the negative returns investors suffered in Q1.

Read the Q2 Market Recap for a brief review of the market performance. Also included is a summary of IRS guidance impacting retirement plan relief under the CARES 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.

Tuesday, August 11, 2020

The case for an operational review of your 403(b) plan

Why now?

The plan sponsor community has been woefully unprepared to meet the increased scrutiny of 403(b) plan operations by the IRS, Department of Labor and private auditors. There has been a material spike in plan correction applications, investigations and regulatory penalties.

But don’t just take our word for it. Let your fellow plan sponsors’ experiences tell the tale.

Our webinar featured real life stories about sponsors just like you. Each of them had a “What, me worry?” attitude where their plan was concerned, confident that they had everything well in hand—until everything changed.

Watch this webinar to learn:
  • the pros and cons of conducting a plan operational review;
  • when you should do it; and
  • how much you can expect to spend.

FEATURED SPEAKERS:


Carol Idone
Vice President, Consulting
HANYS Benefit Services
Eric Paley
Partner
Nixon Peabody
Claire Rowland
Counsel
Nixon Peabody

For Your Benefit video series: Episode 1-The monkey on our backs




Welcome to our new video series: For Your Benefit with HANYS Benefit Services.

In this series, you will hear from leading HBS experts as we share insight on the employee benefit topics and trends that matter most.

This episode we're talking student loan debt. How does it affect our financial health and ability to save for retirement? We also touch on what employers are doing to help.



Tune in to each episode as we discuss regulations, investments, compliance and all things benefits.


If you have any questions on content from our video or would like to begin talking to a retirement plan advisor, please get in touch by email or by calling (800) 388-1963.

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