Innovative Myth Series #10: When Transferring Service Providers, There are no Pitfalls, Part 2 – Market Value Adjustments and Fixed Accounts

A new client engaged Innovative after they decided to transfer their current plan to a new service provider. After our initial investment review, we noticed there was an existing Stable Value Fund, which was subject to a market value adjustment (MVA). When an MVA is being applied, a complete fund liquidation may result in a […]

Diversity Discussion: Terms to Know

The concept of diversity is often presented to employees only in the negative – employees are told not to discriminate, or not to harass. But diversity is much more than that – when embraced and fostered, it promotes creative, engaged, happy workplaces. Beginning the diversity discussion with your workforce can be difficult, but there are […]

Should you Consider a Safe Harbor Contribution Feature?

Does your organization’s retirement plan frequently refund money to highly compensated employees (HCE)? Do you want to provide a great incentive to your employees to save for retirement and perhaps allow them to retire earlier? Would the owners and highly compensated employees like to save more of their own money? Do your key employees own […]

Ryan Kastner Receives Young Professionals Leadership Award

Congratulations to our Vice President, Consulting, Ryan Kastner, for being named to Burlington County Regional Chamber of Commerce’s (“BCRCC”) Young Professionals Leadership Class of 2019. The award honors professionals under the age of 40 who demonstrate outstanding leadership in the Burlington County Business Community. Winners are selected based on their civic engagement and volunteerism, enthusiasm […]

Oral Health Awareness Month

Did you know that your oral health offers clues about your overall health — or that problems in your mouth can affect the rest of your body? Protect yourself by learning more about the connection between your oral health and overall health. What’s the connection between oral health and overall health? Like other areas of […]

September 2019 Compliance Recap

September was a busy month in the employee benefits world. The U.S. Senate confirmed Eugene Scalia as the new Secretary of the Department of Labor (DOL). The Internal Revenue Service (IRS) published proposed rules regarding affordability safe harbors and Section 105(h) nondiscrimination rules as applied to individual coverage health reimbursement arrangements (ICHRAs). The IRS also […]

DOL Overtime Rule Change

On Sept 24th, the US Department of Labor (DOL) released a new rule, increasing the minimum salary level for exempt status to $35,568 per year for a full-time employee, effective January 1, 2020.  Read the full law, here: DOL Overtime Rule Change  The proposed rule creates the following changes: Raises the minimum salary for an exempt administrative, professional, […]