Month: February 2017
Innovative Welcomes Jennifer Berwick
Innovative is happy to announce the newest addition to our team, Jennifer Berwick. Jennifer comes to us with a diverse background in office administration and accounting. She will be working closely with Innovative’s CEO, Teriann Procida, where she will look to leverage her organizational talents to help Innovative’s office run...
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Impact of Opt-Out Incentives on ACA Affordability Calculations
Quick Overview of Affordability Employers may find themselves subject to a penalty if an employee goes to the Marketplace/Exchange and obtains a premium credit, because the employer plan was not affordable or does not provide minimum value. An employee is not eligible for a premium tax credit for...
Read MoreProposed Regulations Allow for Permitted Uses of Plan Forfeitures in a 401(k) Plan
On January 18, 2017 the IRS issued proposed regulations that allowed for permitted uses of plan forfeitures in a 401(k) plan. Under these proposed rules, “Qualified Nonelective Contributions, or QNCEs and “Qualified Matching Contributions” or, QMACs would be amended to allow plan sponsors to use amounts held in the plan’s...
Read MoreThe fate of the Fiduciary Rule
As you may know, on Friday, February 3, 2017, President Trump signed a memorandum directing the Department of Labor Secretary to undertake a new “economic and legal analysis” to evaluate the Fiduciary Rule. To the extent that the new analysis reveals any issues, the Labor Secretary is directed to publish...
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Innovative Welcomes Shannon Thomson
The Innovative team continues to grow with our most recent addition to the team, Shannon Thomson. Shannon was most recently the Executive Administrative Assistant for the Sports & Entertainment department at Aramark. She is currently working on completing her degree in Business Administration at the University of Phoenix. Shannon joins...
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