October 2004

Welcome to Prairie Post, Blue Prairie Group's monthly e-Newsletter about Human Resource, Employee Benefits, and Institutional Retirement & Investment issues.

In this Issue...

 
  - New Dimension: Educating Employees on Retirement Spending

  - Small Business Tax Credit for 401(k) Startup Costs

  - Regulatory Environment Causes Employers to Review 401(k) Plans Fees

  - Beyond the 401(k)

  - Typical Information Requested in a 401(k) Plan Audit

  - Survey: the Health Benefits Squeeze: Implications for Nonprofit Organizations and Those They Serve

  - Obesity-related Diseases Cause Rise in STD Claims

  - Perspective on the Current Frenzy of Class-Action Employment Litigation

  - Experts Say Managed Care at the Crossroads -- Again

  - Spend Money on Healthy People to Reduce Health Insurance Costs in the Long Run

  - Work and Family Benefits: Assessing Their Value in the Workplace

  - Companies Adding Benefits to Help Workers Care for Aging Parents

New Dimension: Educating Employees on Retirement Spending

Over the next 10 years, the Social Security Administration estimates that 24.2 million of the oldest baby boomers will reach retirement age. So retirement plan providers are expanding their education programs for plan participants to include information not only on saving, but also on spending their nest egg after they retire.
 

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Small Business Tax Credit for 401(k) Startup Costs

Startup costs have always been a major hurtle to small businesses who what to start a 401(k) plan, but a provision of The Economic Growth and Tax Relief and Reconciliation Act (EGTRRA) now helps scale this barrier to employee saving opportunities.

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Regulatory Environment Causes Employers to Review 401(k) Plans Fees

If an employer really wants to cut their 401(k) costs they need to examine their investment related expenses. This and many other facts can be found in the newly updated 401(k) Provider Directory Averages Book.

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Beyond the 401(k)

When you're busy drumming up sales and getting orders out the door, retirement can seem a far-off concern. And what entrepreneur isn't counting on the windfall that will make retirement planning unnecessary? Perhaps that's why less than 25% of companies with fewer than 100 employees offer a defined-contribution retirement plan, such as a 401(k). Fortunately, there is a range of retirement planning options that can help you.

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Typical Information Requested in a 401(k) Plan Audit

Here is a list of items typically requested in an initial letter sent by the Internal Revenue Service or the Department of Labor in connection with a 401(k) plan audit. These items should be maintained and be readily accessible by the plan administrator at all times the plan is in operation.

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Survey: the Health Benefits Squeeze: Implications for Nonprofit Organizations and Those They Serve

According to a new report by the ... Johns Hopkins Center for Civil Society Studies, American nonprofit organizations are being especially hard hit by escalating health benefit costs. Based on a nationwide sample of more than 250 nonprofit agencies ..., the research, part of the Nonprofit Listening Post Project, found that nearly two-thirds (63 percent) of the organizations surveyed reported health benefit cost increases of 11 percent or more over the past year.

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Obesity-related Diseases Cause Rise in STD Claims

Benefit advisers might want to educate their clients about the importance of wellness and disease management programs, as disability insurance provider UnumProvident releases ... statistics about the increase in short-term disability claims associated with obesity.
 

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Perspective on the Current Frenzy of Class-Action Employment Litigation

Unless your company a) is bankrupt, b) has a reputation for being a vicious litigator, and c) has never had a disgruntled employee in its history, you're probably in the cross hairs of a plaintiffs' attorney somewhere casting about for an easy mark for a class-action employment case.

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Experts Say Managed Care at the Crossroads -- Again

As rising costs drive CEOs' collective blood pressure off the charts, a group of experts considers whether managed care has reached another watershed -- and whether the industry can reinvent itself yet again.

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Spend Money on Healthy People to Reduce Health Insurance Costs in the Long Run

The accepted insurance model is to provide care intended to make sick people well. This might include screening, and some preventive actions such as immunizations. But there are new arguments that small investments in persuading people to live healthier lifestyles will result in large reductions in cost in later years.

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Work and Family Benefits: Assessing Their Value in the Workplace

October is National Work & Family month, and there is plenty to celebrate as the 20-year work-life movement enters its third decade. As the economy continues to rebound, employers are again focusing on using work-life initiatives to create a working environment that will attract and retain employees. Today, however, work-life means far more; it requires the development of a culture, policies and programs that are geared to providing quality of life for all persons in the workforce.

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Companies Adding Benefits to Help Workers Care for Aging Parents

Employers who provide elder-care perks say they do it to keep workers more productive on the job and boost morale by sending the message that the company cares about their personal lives. 'It really helps drive home the whole issue that can't be stated strongly enough: balancing home and work life,' said Lori Rosen, a lawyer and workplace analyst.

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The articles have been carefully chosen from a variety of high-quality sources including government, research and academic institutions.

Please note: Blue Prairie Group checked each of these links before sending you this e-Newsletter. However, some links are only available for a limited period of time, so, you may occasionally find that a link has expired. If this happens, we apologize for any inconvenience.

Disclosure Statement:
Blue Prairie Group, L.L.C. does not endorse and disclaims any and all responsibility or liability for the accuracy, content, completeness, legality, or reliability of the material. All articles are copyrighted to their publishers.