5 Ways Total Rewards Can Help Recruit Top Talent
July 1, 2020
A good total rewards program helps you attract and retain the best possible talent for your organization. Add a great workplace culture and environment and you could be on your way to becoming an employer of choice among job-seekers. What is a total rewards program? A total rewards program is adopted by a company that […]
Northeast Benefit Services Inc.
5 Steps to Create a Financial Wellness Program
June 1, 2020
In today’s economy, Americans are worried about their finances, and it spills over into every aspect of their lives, even their work. Let’s look at this for a minute and you’ll see why having a financial wellness program for your employees is a good thing. Why Have a Financial Wellness Program for Your Employees? A […]
Northeast Benefit Services Inc.
The Link Between Employee Productivity, Health, and Financial Stress
May 1, 2020
If you think financial wellness programs are a fad, think again. The industry consensus is that financial wellness not only produces results for employees, but it positively influences company bottom lines. That’s good news for a number of reasons, especially for the juggernaut of financial stress in the workplace. A recent study found that nearly […]
Northeast Benefit Services Inc.
Four Ways to Help Reduce Financial Stress for Your Employees
April 1, 2020
Employee financial stress is a hot topic. So much so, that nearly 60% of employees cite finances as their primary stressor. [1] Their financial worries surpass other top stressors, and it’s impacting their job performance. Research shows financially stressed employees are less productive and more distracted at work. They also have higher rates of absenteeism […]
Northeast Benefit Services Inc.
Managing Risk: Do’s and Don’ts for Your Company’s Retirement Plan Committee
March 1, 2020
Scan the business news and you will likely find an article detailing the latest 401(k) litigation against a company accused of a fiduciary breach. The litigious trend started with corporate behemoths but has been trickling down to small and mid-size plans. Adding to this, a survey found that 43% of company fiduciaries don’t actually think […]
Northeast Benefit Services Inc.
10 Steps to Help You Handle a DOL Investigation
February 1, 2020
Hot breath, fear, sweaty palms – You’ve received a request from the Department of Labor (“DOL”) to provide documents about your retirement plan. You are being investigated. Your first thought may be, how did this happen? Why does the DOL care about my company’s retirement plan? Whether it was a complaint from a plan participant, […]
Northeast Benefit Services Inc.
Thinking About Changing 401(k) Providers? Five Things You Should Know
January 1, 2020
Offering a competitive benefits package, including a top-notch 401(k) plan, is essential for your company to recruit and retain top talent. Today’s workers highly value employer-sponsored retirement plans: 88% of them say that an employee-funded retirement plan is important to them.[1] In addition, eight out of ten new hire candidates consider retirement savings programs offered […]
Northeast Benefit Services Inc.
*BREAKING NEWS* SECURE Act and What 401(k) Plan Sponsors Need to Know
December 1, 2019
On 23 December, one of the largest changing legislative acts to impact America’s retirement system was signed into effect. The Setting Every Community Up for Retirement Enhancement Act – or SECURE Act – has many updates and modifications that seek to enhance retirement security activities. The Act strives to address challenges that small business owners […]
Northeast Benefit Services Inc.
How Data Analytics Can Help You Make Retirement Plan Decisions
November 1, 2019
If you’re not using data analytics to help you make progress toward improving participant outcomes, then you could be missing out on a key component of plan governance. Data analytics are becoming a meaningful part of defined contribution plan governance for retirement plan fiduciaries. Data analytics can provide detailed information on different participant segments and […]
Northeast Benefit Services Inc.
Big Data to Drive Participant Outcomes
October 1, 2019
If you want to predict the wants, needs, and fears of participants when it comes to retirement planning, look into the potential of predictive analytics. The use of “big data” (a bite-size term often used instead of the nerdier “predictive analytics”) is helping to steer plan sponsor actions towards enhancing 401(k) participant outcomes and providing […]
Northeast Benefit Services Inc.
Lawsuits Over the Years and What it Means for Plan Sponsors
September 1, 2019
Formation of Lawsuit Trends The barrage of excessive fee lawsuits filed in 2006 started a trend that continues to this day. At first, plan sponsors saw early signs of success in getting cases dismissed. However, this changed after a few years when participants started honing in on claims of self-dealing, i.e. the plan’s fiduciaries benefitting […]
Northeast Benefit Services Inc.
Our 401(k) Investments are on the Watchlist. Now What?
August 1, 2019
Approach, review, document, and decide As a member of your company’s retirement plan committee, if you have recently been informed that one or more of your company’s retirement plan investments are on the Watch List, don’t panic. This is an opportunity for due diligence and possibly to enhance the plan’s performance. Approach As a thoughtful […]
Northeast Benefit Services Inc.
