HANYS Benefit Services

The 2016 U.S. general election was an unusually dramatic event for investors, most of whom were expecting the Democrats to hold the White House. Investors reacted favorably to the election results, with the S&P 500 closing at a new record high on November 22, and continuing to advance through the end of the quarter. Read the Q4 Retirement Market Recap to learn more about the impact of the 2016 election. Also included is an update on litigation targeting non-profit retirement plans. If you have any questions, or would like to begin talking to a retirement plan advisor, please get in touch by calling (800) 388-1963 or email us at hbs@hanys.org.

Understanding your retirement plan’s fees is not only a good practice; it’s a fiduciary requirement as prescribed by the U.S. Department of Labor (DOL) under the Employee Retirement Income Security Act (ERISA). The traditional enforcement mechanism has been DOL plan audits. More recently, high-profile litigation has driven plan sponsors to evaluate their plan fees. These fees can be grouped into several categories: record keeping, administrative, legal, plan advisory, investment, and education and communication. The principal reason fees have been thrust into the limelight is that

The 2016 Employee Benefits survey helped call to attention the increasingly complex circumstances under which employee benefit plans are constructed. The popularity of wellness programs certainly shows a direct correlation between the health and welfare of employees and cost of their care. Most respondents said their organization offers a wellness program (74%), with the most popular methods including: flu shots; smoking cessation; and a health risk assessment. If wellness helps reduce the risk of heart attack, stroke, diabetes, hypertension, and other serious conditions, then the hope is that it will result in fewer medical claims. Download our  2016 Employee Benefits Survey Report  and the  Employee Benefit Survey Webinar Presentation Recording  to understand what these results mean to you as an employer, and what challenges and risks you may face when attempting to offer a competitive benefits package under the Affordable Care Act. If you have any questions, or would like