Bolton

Thank you to the Chesapeake Human Resources Association for the opportunity to speak today on federal and state paid family leave laws at the 2024 CHRA Fall Employment Law and Legislative Conference.

Yesterday, David Johnson spoke at the 19th Annual Employment Law and Legislative Chesapeake Human Resources Association, Inc (CHRA) conference. Session attendees heard the latest on the evolving Maryland Time to Care Act from our resident expert.

On September 18 the U. S. Federal Reserve (the Fed) announced a 0.50% decrease in the Target Feds Fund (TFF) rate, lowering the upper bound to 5.00%. This follows fourteen months with the Fed Funds at 5.25% - 5.50%. Additionally, the Fed reduced the Interest on Reserve Balances (IORB) rate by 0.50%, moving to 4.90%.  The Fed continues to execute monetary policy actions to support its dual mandate of maximum employment and price stability. After a series of TFF rate increases in 2022 and 2023 to combat elevated levels of inflation, the Fed acknowledged that inflationary risks have moderated, while risks to the labor market have grown. The Fed actions will likely have a corresponding effect on the yields on high quality corporate and municipal bonds. Click below to learn what Pension and OPEB Plan sponsors should expect from these rate changes. Keep reading: https://lnkd.in/efe5R3-8

The Inflation Reduction Act (IRA) was enacted in August 2022 to bring substantial reforms aimed at controlling inflation, boosting clean energy, and reducing healthcare costs. However, along with the notable healthcare provisions, recent IRA changes are expected to significantly increase Medicare Advantage premiums for 2025... Keep reading: https://lnkd.in/eCwRSMVb

Thank you for the great turnout and provocative questions! #MDSHRM24 Gave a talk at Maryland SHRM HR Conference 2024 on Development as a Path to Engagement = Choose Your Own Adventure. #bolton

A large multiemployer pension fund paid an insurance company $221M to have the insurance company take full responsibility for all future pension payments for a portion of its current retiree group. All told, the plan shifted 8,700 retirees and beneficiaries (just under 50% of the total retiree group) from the plan to the insurance company. The transaction reduced plan assets by about 9% and the plan and its trustees will no longer have any responsibility for the pension benefits of these plan members or for the payment of their benefits. Find out how and why this transfer occurred and whether a similar transfer may be the right choice for you: https://lnkd.in/e4qd9T-x

Mike Beczkowski, AIF®, CFPA®, CRPS® discusses SECURE 2.0 with Broadcast Retirement Network. Watch a clip below, and tune into the full episode: https://lnkd.in/gxSaFzQr

Very excited and honored to be speaking at #mdshrm on Monday! I had the pleasure to do this interactive talk at the Spring #chra event and the feedback was positive. Hope to see some familiar faces at the event! #bolton My timeslot is now 8am not the 10:15am original slot! Race you to the coffee...

To get ready for open enrollment, employers who sponsor group health plans should be aware of compliance changes affecting the design and administration of their health plans for plan years beginning on or after Jan. 1, 2025. These changes include limits that are adjusted for inflation each year, such as the Affordable Care Act’s (ACA) affordability percentage and cost-sharing limits for high deductible health plans (HDHPs). Employers should review their health plan’s design to confirm that it has been updated, as necessary, for these changes. To minimize costs and streamline administration, employers should consider including these notices in their open enrollment materials. More on plan design changes, ACA disclosure requirements, other notices, and your responsibilities as an employer: https://lnkd.in/ebCPW5UU #bolton #health #healthcare #hr #benefits #healthinsurance #openenrollment