IRS to Discuss Retirement Plans and Same-Gender Marriages
June 10, 2014 (PLANSPONSOR.com) – An upcoming phone forum hosted by the Internal Revenue Service (IRS) will cover updates to retirement plans to reflect the agency's guidance regarding same-gender marriages.
In April and May, the IRS issued guidance issued a notice providing further instruction for qualified retirement plans about the implications of the U.S. Supreme Court’s decision in United States v. Windsor and announced safe harbor retirement
plans can be amended mid-year for changes relating to language about
same-gender marriages (see “IRS
OKs Mid-Year Safe Harbor Plan Windsor Updates”).
The IRS will host a phone forum, “Retirement
Plans After Windsor,” June 26 at 2 p.m. ET. The forum will be rebroadcast July
8, also at 2 p.m. ET. The 60-minute session will discuss the impact of the
Supreme Court’s decision in United States vs. Windsor, IRS Revenue Ruling 2013-17 and IRS Notice 2014-19. The program will also address the Frequently Asked Questions posted on www.irs.gov that relate to the Windsor decision
and qualified retirement plans.
Developing an Online Benefits Communications Strategy
June 13, 2014 (PLANSPONSOR.com) - Employers need to create a strategy for online benefits communications and determine what channels work best for their employees.
During
a webinar hosted by Benz Communications, “Likes, Tweets and Clicks,” the firm’s
CEO, Jennifer Benz observed
that even though the Internet has become so pervasive in our lives, it still
feels relatively new for benefits communication. She noted that some companies
have resisted communicating benefits information via the Internet for a long
time, while others have been under the constraints of conservative or
protective IT or corporate communication departments.
“Eighty
percent of Millennials and Generation Xers want their benefits information on
the Internet and nearly 70% of younger Baby Boomers say the same,” said Benz.
This should not come as any great surprise to employers. All of our lives are
online, so many feel their benefits information should be there too.”
Benz
said it is important for employers to have a strategy for benefits
communication. She suggested the strategy should be written, and said it doesn’t
have to be complicated. “Your strategy will let you focus on specific and
measurable behaviors, and will also help to push people to online resources and
tools.” Employers
should look at all the data they have available when developing a communication
strategy and when establishing ongoing assessments of their efforts, she added.
The
first step is getting material online. It should be someplace outside the company’s
firewall, and it should be easy to use, Benz suggested, adding that employers
should use their existing resources to get things done and boost communications
efforts.
Benz encourages
employers to keep talking. “Engage with employees and their families year
round, reaching them when they’re making daily decisions that affect their health and financial security.”
To
maintain year-round communication, she said, employers need to use a variety of
channels, including offline ones. “A single type of media or channel is not
going to resonate with everyone in your organization and that’s okay.” What
employers need to do, according to Benz, is leverage each channel for its
strengths and have the different channels working in concert to create an
integrated communications campaign. This probably means still doing in-person
communications and producing printed materials, no matter how sophisticated you
get with your communications technology, said Benz. “The right kind of printed
material can be effective at driving traffic to online resources.”
Benz
pointed out that a misconception of online communication is “if you just build
a really nice resource, people will use it. The reality is that you have to
promote everything all the time.”
Online
content requires the same precision and attention to detail as printed materials,
perhaps even more, Benz said. “People have limited attention spans and are
constantly bombarded with information, so channels like websites, emails,
videos and infographics that are carefully crafted will get better results.” She
also recommended making sure content isn’t bogged down in legal jargon;
however, employers should make sure they have the necessary disclaimers posted
and are covering compliance issues.
Benefit
Websites
It
is important to have a single destination where employees and their families
can find their benefits information, said Benz. “Not only does it create a
cohesive experience and give employees anytime access to benefits information,
but it’s also a valuable resource for recruiting and new hires.”
Benz recommended
getting feedback from employees about the design of their benefits website and
performing user testing to continually enhance the site based on such feedback.
She also recommended that while employers should password protect confidential
or personal information, general marketing and educational materials should be
in an area of the site that is public and not password protected.
Intranets
Posting
benefits information on intranets (i.e., company internets), creates a barrier
and prevents employees’ families, as well as some employees, from viewing this
material. Benz suggested, as long as the material is not confidential, it
should be publicly available on an external website.
If
material is featured on both an intranet and an external site, efforts between
the two sites needs to be coordinated. Benz cautioned that content should not
be duplicated on both, since it would confuse users about where to go for
information. “Employers need to make it clear where to go for information and
create a cohesive and simple experience between the two sites,” said Benz.
Email
Benz
recommended that email content be kept short and sweet, especially when it
comes to the subject line. Avoid using emails as a dumping ground for content.
Let people click on a link for more details. Also, emails do not have to be one
size fits all, but can instead be targeted to certain employee populations.
As
with online channels, Benz suggested employers track the open rates and
clickthroughs to see what types of emails get a better response.
Videos
“Videos
are wildly popular online and a favorite method for conveying complex benefits
information,” said Benz. “There are formats such as animated, live action and
talking heads, and all have their time and place.” Whatever format is chosen,
the video needs to be kept short and sweet, said Benz, with a running time of
two or three minutes. If an employer has a lengthy topic that needs to be
covered, Benz suggested not covering everything in a single video, but creating
a series of videos.
Benz recommended that
companies get their leaders and experts onscreen for creditability, but added
that these people should be coached to make sure they both look and sound good
on camera.
Webinars
“Webinars
are a nice way to build a library of video content at an affordable price,”
said Benz, adding that the most inviting webinars are ones with a short format
and very specific topics, as well as an enthusiastic and compelling presenter and
time at the end for questions and answers.
Social
Media
“Social
media is one of the best ways to keep the content on your benefits website
fresh,” said Benz, especially through blogs and tweets. Benz advised employers
to start small, using a blog for news and updates on their benefits website. She
also recommended that employers not worry if they don’t post frequent updates.
“Remember a low frequency of posts is better than no posts at all.”
Benz
Communications offers a starter kit about this topic, which can be requested here.
Tip
Sheets and Infographics
The
aim of a tip sheet or infographic is to “tell employees what they’re missing
out on or on ways they can get more value from your benefits.” As with emails,
do not try to say everything but focus in on key points, pushing people to
online resources via links, Benz suggested, adding that the point of such
pieces is to entice the reader to find out more, not to explain every single
detail of a subject. “Use simple, visual, easy-to-read content that can be
distributed online or by email,” said Benz, recommending that employers use a
professional designer who can incorporate images and graphics into the piece.
Benz
said employers should take note that many employees will access websites and
emails on a mobile device. She recommended using responsive web design, which
responds and adapts the display to conform to the type of device on which the
content is being viewed. Benz advised against employers building their own
applications. “Leave apps to your carriers and administrators.”
She
also advised against using QR (quick response) codes—an image that can be
scanned and leads users to a web page—as a communication channel for benefits
information. She pointed out that only a small percentage of people ever
actually scan and use them. In addition, they are often reproduced in
technically inappropriate media such as on billboards or in emails, where they
cannot be scanned. “QR codes have never gotten enough traction to be valuable,”
Benz said. “It’s just as easy for someone to type in a URL or click a link.”
Online tools can be a
valuable part of employers’ benefits communications and help them create better
employee benefits results overall, Benz concluded.