ShareBuilder 401k Offering Plan Set-Up Discounts

The discount is for businesses that set up a new 401(k) plan ahead of the October 1 government deadline for safe harbor plan designs.

ShareBuilder 401k, a provider of low-cost, index fund-based 401(k) plans, is offering a discount to businesses that set up a new 401(k) plan ahead of the October 1 government deadline for safe harbor plan designs.

The newly independent firm notes that safe harbor 401(k)s feature a variety of benefits and savings for business owners looking to maximize tax-deferred contributions and minimize future tax burdens, while automatically satisfying IRS plan testing requirements. A safe harbor plan requires an initial plan year that is at least three full months, making October 1 the effective deadline for creating a new plan.

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For plans that set up a new 401(k) from today to September 3, ShareBuilder 401k is offering $200 off set-up costs. For new set-ups between September 4 and September 17, it is offering $100 off.

“Most small business owners don’t realize any size business can have a 401(k) plan, or what a safe harbor plan is, much less how it can benefit a business and its employees,” says Stuart Robertson, CEO of ShareBuilder 401k. “At ShareBuilder 401k, that’s our priority—offering accessible and easy-to-digest content and guidance on important topics like safe harbor plans, so business owners can make informed choices about planning and investing for retirement.”

More information is at www.sharebuilder401k.com.

Return on Health Benefits Investment Can Be Improved With Single Access

Research found low engagement levels with health benefit programs, and one problem it identifies is employees are often required to access multiple disparate systems to learn about and access their full range of health benefits.

There is a disconnect between companies’ investment in health benefits and the impact on employee health, according to research from Harvard Business Review Analytic Services sponsored by League Inc., a North American enterprise health operating system (OS).

According to League, in North America, employers are spending an estimated $15,000 per employee to provide health care benefits to their teams and these costs are continuing to rise. The survey of 238 company executives found that 90% of respondents view employee health benefits as an important way to demonstrate their organization’s understanding and concern for the needs of their workers. More than half (51%) of organizations expect such benefits will become an even higher strategic priority over the next three years.

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However, 58% of survey respondents report that employees are unaware of the company-provided health benefits to which they are entitled, and 63% say employees don’t know enough about how to leverage their benefits.

The research found low engagement levels with health benefit programs. Just 28% of respondents say employees actively engage with all of the health benefit programs they are offered, and only 27% of organizations say employees use the full range of their health benefits. Low awareness, knowledge and engagement often results in higher overall health care costs, poorer employee health, employee absenteeism and lower productivity, League says.

One problem the survey identifies is employees are often required to access multiple disparate systems to learn about and access their full range of health benefits. At just 10% of organizations, employees can learn about and leverage the full range of available benefits through a single system. At 13% of organizations, employees use more than five systems to access their benefits.

Respondents at most organizations (68%) believe there are opportunities for their organization to better manage health benefits costs. The same percentage report their organization is open to changing its employee health care experience.

“There is a profound disparity between what employers are doing to provide health benefits and what employees are actually getting from these efforts,” says Mike Serbinis, CEO of League. He suggests employers consider how they can streamline access to solutions to help employees proactively manage their health.

League provides employers with a data-driven platform, Health Benefits Experience: HBX, designed to provide a single access hub for employees to engage with their health, lifestyle and benefit programs.

An executive summary of the research from Harvard Business Review Analytic Services and League is available for download here. The full report will be available in September and can be received by signing up on the landing page.

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