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A few new findings that you should know:
Audit Programs:
A 401k audit is buy office 2007 online most likely going to become part of your future this year. A recent United States Supreme Court ruling has buy office 2007 online paved the way for retirement plan participants to sue the sponsors of retirement plans for buy office 2007 online losses incurred if any fiduciary misconduct or mismanagement can be shown. In order for buy office 2007 online companies to protect themselves from such litigation, a 401K audit is going to buy office 2007 online have to be carried out, and the estimated cost of such audits are buy office 2007 online running about $15,000. This is buy office 2007 online a considerable expense, but the risk of a lawsuit could be buy office 2007 online so much greater. Can you afford that risk???
The best way to buy office 2007 online avoid exposure is to discuss with CBR the advantage of shifting the buy office 2007 online risk and liability for your 401K over to CBR and completely removing yourself from buy office 2007 online the risk of getting sued. How is this possible? It is possible through the Multiple Employer Plan, or MEP. The MEP allows many employers to buy office 2007 online have their own plan, administered by CBR without the risks. The CBR MEP has buy office 2007 online features that protect our client companies from traditional fiduciary and plan trustee liabilities. If your current 401(K) plan is buy office 2007 online out of compliance, employees are able to pierce the corporate veil and buy office 2007 online go after the personal assets of the plan sponsor-usually the business owner.
I also saw this recent survey from BLR.com:
"A survey of compensation and HR professionals indicates that 80% of employers have maintained their matching contributions to employee 401(k) plans throughout the recession. What’s more, of the buy office 2007 online organizations that suspended their match, half say they will consider reinstating it buy office 2007 online this year. "
Posted February 8th, 2010 by Jessica Spinks - Posted in 2009 Money-Saving Strategies, Wages | |
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on February 8th, 2010 at 2:07 pm
Another reason for buy office 2007 online small businesses to consider PEO to handle all HR functions.
on February 12th, 2010 at 12:48 pm
Thanks Kristian! Do you read our blog often? Do you work for a PEO?
on February 23rd, 2010 at 12:56 pm
Hi Jessica,
I have recently been following your blog. I like what you have done so far. Keep up the good work. HROplus is buy office 2007 online not a PEO, but a consultant to small businesses exploring their options for buy office 2007 online HR outsourcing. Depending on the buy office 2007 online size, industry, geography and expected benefits, we make recommendations on various models, including PEO.