Couple 401(k) and Financial Wellness Plans to Help Your Staff

| posted in Blog, Newsletter

The first source of financial advice for nearly 65% of U.S. workers is their 401(k) plan provider, according to a survey by T. Rowe Price. The top three objectives for advice that workers were seeking are: Saving for retirement outside of the workplace retirement plan (74%). Saving to fund health care expenses in retirement (74%). Saving in the workplace retirement plan (71%). The results of the study show how much value employees put on their retirement plans and how active they really are in trying to secure a sound financial future for themselves. With the stresses of rising costs, particularly…
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New Rule Simplifies X-Mod Calculation, Encourages Reporting First Aid Claims

| posted in Blog, Newsletter

A new method for calculating workers’ compensation experience modifications (X-Mods) took effect in California on Jan. 1, 2019. The Workers’ Compensation Insurance Rating Bureau of California has created a new simplified formula for calculating X-Mods as part of its efforts to add more transparency to the process. The new formula excludes the first $250 of every claim for the X-Mod computation, no matter how large or small the claim is. This also means that if an employer pays, say, $200 for first aid on a minor workplace injury, they are required to report it as a claim. Doing so will…
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Massive Breach Exposed 773 million E-mails, Passwords

| posted in Blog, Newsletter

News of the latest global data breach of some 773 million e-mail address and passwords should prompt individuals and organizations alike to change their passwords – particularly for any accounts that have financial, credit card or other personal information. The scope of this breach cannot be overstated as the list includes log-in credentials from more than 2,000 websites, according to an article on the website Marketwatch, which cited a report by security researcher Troy Hunt. Hunt said that the files were collected from a number of breaches and uploaded to a cloud service called MEGA, and the data was promoted…
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