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DOL Fiduciary Rule Overturned | Illinois Benefit Brokers

In its March 15, 2018, decision, the U.S. Court of Appeals for the Fifth Circuit overturned the U.S. Department of Labor’s (DOL) Fiduciary Rule that expanded the definition of an investment advice fiduciary under the federal Employee Retirement Income Security Act (ERISA). Under the Fiduciary Rule, investment brokers were going to be required to put … Continued

Electronic Delivery of ERISA Notices | Chicago Benefits Advisors

Q. Can we provide summary plan descriptions (SPDs) electronically?A. Yes. However, just sending them is not enough to meet ERISA requirements; you must ensure the intended recipients are actually getting them.Specifically, ERISA requires SPDs to be furnished using “measures reasonably calculated to ensure actual receipt of the material” via “methods likely to result in full … Continued

Quick Look: Medical Savings Accounts | Illinois Employee Benefits

Check out this infographic to learn all about medical savings accounts and how you can save money using them!

Here’s Where #FOMO Is Doing You a Disservice | Chicago Employee Benefits

Fear of missing out—is more than just a hashtag. Many Millennials admit that #FOMO drives a lot of their decisions on what they wear, what they do, even what they eat and drink. We live in a world of social influence.But one area where #FOMO really does you a disservice? No one is afraid of … Continued

All About Medical Savings Accounts | Illinois Employee Benefits Advisors

Taking control of health care expenses is on the top of most people’s to-do list for 2018.  The average premium increase for 2018 is 18% for Affordable Care Act (ACA) plans.  So, how do you save money on health care when the costs seems to keep increasing faster than wage increases?  One way is through … Continued

IRS Releases New Form W-4 and Updates Withholding Calculator | Chicago Benefit Advisors

Our February 6 blog post on the February release of the Form W-4 and guidance on the income withholding rules that changed under the Tax Cuts and Jobs Act. On February 28, 2018, the federal Internal Revenue Service (IRS) released the new 2018 Form W-4 and an updated withholding calculator.Why a Withholding Calculator?The IRS encourages … Continued

6 Ways to Keep the Flu from Sidelining Your Workplace | Illinois Employee Benefits

This year’s flu season is a rough one. Although the predominant strains of this year’s influenza viruses were represented in the vaccine, they mutated, which decreased the effectiveness of the immunization. The flu then spread widely and quickly, and in addition, the symptoms were severe and deadly. The U.S. Centers for Disease Control and Prevention … Continued