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Where’s My Beneficiary Designation Form?

From both an employer’s and an employee’s perspective, why is the correct handling of a designated beneficiary form and its completion so critical? It’s because this all-important form controls how retirement funds will be allocated in the case of death, divorce, and other life-altering events and who will benefit from those funds. What role does the SECURE Act of 2019 play in retirement distribution for both employers and employees? Get educated, so you can be certain your retirement funds and plans will be handled in just the right way.

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Legislative Update Part Two

In this article we bring you part two of the legislative updates for the Cycle 3 restatement. Learn more about the new legislation as well as what to do next. There is a tremendous amount of administrative compliance involved with these new laws.

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State of California Mandates Employer Retirement Plans

Important retirement plan requirements for California employers! In 2016, California passed legislation requiring all employers with five or more employees, who do not have a company retirement plan, to offer a state-run retirement program to their employees. The law became effective in 2020 and this program is known as Cal Savers.

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Sixth Annual BEI Golf Classic COVID-19 Update

Due to COVID-19 restrictions still in place, the Sixth Annual BEI Golf Classic is postponed until further notice.

We look forward to rescheduling this premiere event benefiting the Council on Aging Southern California sometime later this year or early in 2022.

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What Happens When You Terminate 20% or more of your Employees?

The recently enacted Consolidated Appropriations Act, 2021 (Act) is a massive, 5,593-page piece of legislation. The Act includes appropriations for the U.S. government for the upcoming fiscal year, as well as funding for Coronavirus emergency response and relief. If you have had a 20% or more reduction in staff, we strongly recommend you check with Benefit Equity Inc.’s knowledgeable team to explore if your company is required to fully vest terminated employees.

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