Benefits

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    RE: 401k Excise Penalty

    _ Prepare RFPs with an eye toward changing your TPA. While the plan sponsor has some responsibilities to check with its TPA to ensure all needed compliance steps are being taking, the TPA should be expected to keep on top of its obligations, especially ...

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    401k Excise Penalty

    _ We just received form 5330 from our 401k TPA telling us we owe a penalty of $2300 for not correcting a plan failure in time for 2020.  They requested I have everything to them by 1/31, I had it all in to them in good order on 1/23/20.  I heard nothing ...

  • _ Manufacturing, Maine - Our renewals trended into the negative on one plan and +2.91% on the other. For reference, we are partially self-funded (Aetna). Our broker said a lot of clients were trending in the 9-15%, which was significantly lower than ...

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    RE: Massachusetts Pay at termination

    _ Nope, you can't have ANY policy, contract or agreement to forfeit earned or accrued vacation time in Massachusetts. No Forfeiture of Earned Vacation Time General Laws c. 149, s. 148, provides that no employer shall "by special contract with an employee ...

  • For our Massachusetts professionals.  If your handbook language permits forfeiture of vacation in absence of notification(quit without notice), is that applicable in Mass?  Or should we remove that based on state policy. Help is appreciated ------------------------------ ...

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