What Does Being “Vested” In Your 401(k) Mean?
Posted: November 28, 2019
As defined by the IRS, vesting in a retirement plan means ownership. Each employee vests a certain percentage of their account in the 401(k) plan every year. An employee who becomes 100% vested in his or her 401(k) account balance owns 100% of the balance. When this occurs, the employer cannot take it back (forfeit) for any reason. Amounts that are not vested in a...
What Happens To My Mortgage Protection Insurance If I Sell My House?
Posted: November 22, 2019
When you purchase a home, you are likely to get offers for mortgage protection insurance, a type of life insurance that will pay off your mortgage in case you die or become disabled. This provides protection for your family if you are no longer there or no longer able to work to pay the mortgage. If you die, with some policies, the proceeds go directly...
How Much Should I Put In My HSA?
Posted: November 13, 2019
If you have opted for a health savings account (HSA), the next question is how much to put into it. To qualify for an HSA, you must have chosen a high-deductible health insurance plan. Having a health savings account can help you cover your deductible and other out-of-pocket healthcare expenses, both now and in the future. The following steps may be helpful in calculating how...
How Do I Change My Life Insurance Beneficiary?
Posted: November 7, 2019
It is crucial to name a beneficiary on your life insurance policy. Otherwise, when you die, the policy becomes part of your estate and subject to probate. However, you may change your mind about who you want your beneficiary to be, in which case you have the right to change it. What Is The Process For Changing Beneficiaries On A Life Insurance Policy? In most...
What Benefits Should I Offer To Retain Top Talent?
Posted: October 28, 2019
As most HR professionals know, it is a job seeker's market today. The U.S. Bureau of Labor Statistics (BLS) reports an unemployment rate of only 3.7 percent as of July 2019. Savvy employers know that to attract and retain top talent, they need to offer an enticing group benefits package, in addition to competitive salaries. The following are some sought-after group benefits your company might...