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DOL will not pursue claims against Fiduciaries During Phased Implementation Period Ending on January 1, 2018

P&A ERISA Corner, P&A Group, Retirement Plan Services

On May 22, 2017 the DOL published Field Assistance Bulletin No. 2017-02 which announced a temporary enforcement policy related to the Department of Labor’s final rule defining who is a “fiduciary” under ERISA and the related prohibited transaction exemptions (PTEs). The final rule, entitled “Definition of the Term ‘Fiduciary’; Conflict of Interest Rule — Retirement…

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HRAs – Will they work for your company?

Customer Service, Health Reimbursement Arrangements, P&A Group

A Health Reimbursement Arrangement (HRA) is an employer funded benefit that is used to reimburse employees for medical expenses as defined in IRS Code 213(d). A Health Reimbursement Arrangement (HRA) is an employer funded benefit that is used to reimburse employees for medical expenses as defined in IRS Code 213(d). You as an employer are…

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New HSA Limits Announced for 2018; Possible Changes Proposed

Health Care Reform, P&A Group

Last week the IRS released the inflation-adjusted limits for Health Savings Accounts (HSAs) in 2018. The increases for the 2018 are as follows: Annual Contribution Single: $2,450 Family: $6,900 HSA Minimum Deductible Single: $1,350 Family: $2,700 HSA Maximum Out-of-Pocket Expenses Single: $6,650 Family: $13,300 Looking Ahead If the ACA replacement bill…

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Commuting Made Easy with P&A

Commuter Benefits

Do the majority of your employees have monthly out-of-pocket parking and transit expenses to get to and from work? P&A offers a commuter plan that allows your employees to set aside pre-tax dollars to use for these expenses. Do the majority of your employees have monthly out-of-pocket parking and transit expenses to get…

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Flexible & Friendly, Expert & Empathetic – P&A Group’s Fresh Perspective on Employee Benefits

Flexible Spending Accounts, Health Reimbursement Arrangements, P&A Group

You’ve received the glossy brochures. You’ve heard the sales pitch, you’ve shook hands, and you’ve received promises of lower costs, increased efficiency and less “headaches.” Naturally, you decide to give a new vendor a chance – why not – and you sign up for a new service. It’s too good an opportunity to miss. Or,…

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Focus On Communication Practices for 2017’s National Employee Benefits Day

P&A Group

April 3 is recognized as National Employee Benefits Day (NEBD) by the International Foundation of Employee Benefit Plans, a nonprofit organization which provides research and education to the benefits community. This year, NEBD emphasizes communication and examines how important benefit choices and changes are provided to employees. We are sharing some communication tips and practices…

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