Monday, April 2, 2018

The Financial Burden of Defined Benefit Plans

Defined benefit plans were the predominant retirement plan at the time the Employee Retirement Income Security Act (ERISA) was introduced in 1974. Many hospitals and other healthcare provider organizations in New York State had defined benefit pension plans. In a defined benefit plan, the total financial obligation falls strictly on the sponsor. The amount of benefit is stipulated and the funding of that benefit is the responsibility of the sponsor. As time went on, defined benefit plans became more onerous to maintain, more difficult to sponsor, and more expensive.

Join HANYS Benefit Services on Friday, April 6 at 11:00 AM to learn a number of strategies to assist in managing defined benefit plans.

Thursday, February 8, 2018

HANYS Benefit Services Partners with CyberScout on Identity Theft Protection Services

HBS expands employee benefits offerings to protect employees from the consequences of identity theft

HANYS Benefit Services is pleased to announce our partnership with CyberScout, a leading identity management and data theft services company. CyberScout delivers valuable prevention education, proactive protection services, and swift and appropriate incident remediation for more than 17.5 million households and more than 770,000 businesses.

The hidden cost of identity theft to employees and employers:

When identity thieves take advantage of employees’ stolen personal information to obtain credit or loans, or to commit various types of fraud, both employees and employers pay a steep price. For example, victims:
  • need 165 hours, on average, to resolve identity theft; 
  • are absent five times more than average; and
  • use twice as much sick time.

Thursday, February 1, 2018

2018 Retirement Services Compliance Calendar and Notices Reminder

HANYS Benefit Services wants to help you stay compliant with the 2018 Retirement Services Compliance Calendar and Notices Reminder.

Compliance is just one of many services we provide. HANYS Benefit Services created this document to remind plan administrators of the compliance deadlines and notices required for distribution.

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.

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