Understanding the Evolution of Benefits Management in Today's Business Landscape In today's business environment, benefits administration has evolved far beyond the traditional annual enrollment period. As businesses face increasing challenges in attracting and retaining skilled workers, maintaining competitive benefits [...]
The Evolution of Benefits Administration: A Game-Changing Solution In today's complex business environment, managing employee benefits can consume up to 30% of HR professionals' time. The NARFA Benefit Center stands as a revolutionary hub that transforms this challenging [...]
Beginning January 1, 2025, Connecticut’s paid sick leave law—which currently covers employers with 50 or more employees in the state and only applies to service workers—will be significantly expanded to cover almost all employees and employers. Below are some [...]
In today's complex regulatory environment, businesses in the automotive, roads, fuel, and related industries face unprecedented challenges in managing employee benefits. Recent studies show that compliance issues are a growing concern for companies of all sizes. According to a [...]
The U.S. Department of Labor (DOL) recently announced the finalization of its overtime rule, significantly impacting how employers classify employees as exempt from overtime pay requirements under the Fair Labor Standards Act (FLSA). This new rule takes effect in [...]
The annual open enrollment scramble is a familiar scene for many HR professionals. But what if there was a better way? Recent trends point toward a shift in employee benefits communication, moving away from a one-size-fits-all approach and [...]
The IRS has released its annual guidance on inflation adjustments for retirement provisions in 2024. The key updates include: For 401(k) and similar defined contribution plans, the contribution limit for participating employees will rise to $23,000 from $22,500. The [...]
On August 30, the White House proposed a rule through the Department of Labor to extend overtime pay eligibility to an additional 3 million workers. This move echoes an attempt by the Obama administration eight years prior to modify [...]
The automotive industry encompasses a diverse workforce that requires a specialized approach to employee benefits. NARFA, with its longstanding history and expertise, stands as an invaluable ally for businesses navigating the complexities of employee benefits. The Challenge of Diverse [...]
The IRS has announced a two-year delay of the SECURE 2.0 Act's Roth catch-up requirement, which was set to take effect on January 1, 2024. This means that higher-income employees who are currently eligible to make catch-up contributions to [...]
