The 6 Most Common Benefits Mistakes Long-Term Employees Make

If you’ve been with a company for a long time, it’s easy to get comfortable with your position there. This goes for your employee benefits, as well: You might fall into a routine and not realize the many options your employer offers that fit you better than your current coverage. Don’t miss out by making these benefits mistakes. 1. Ignoring Communications HR sends out all sorts of announcements about employee benefits — are you listening? If you’re not paying attention to employee communications, you could miss enrollment deadlines or valuable new benefits that you didn’t know you had. Chris Lokken, an employee benefits consultant with Johnson Insurance, says he often asks employees how many took advantage of the regular free eye exam their health insurance often covers. “Usually I get 3 or 4 hands to go up, and 5 or 10 people see me after the meeting and ask me …

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3 Perks that Impress Millennials the Most

Millennials now represent the largest segment of the workforce, and they have the potential to cause significant disruption in the next few years: According to the Deloitte Millennial Survey 2016, two-thirds of millennials said they want to leave their current employer by 2020. Want to know how to keep them around? These three perks are among those that impress millennials the most. 1. Flexibility Whether it’s in their schedule, the work they do, benefits packages or how they engage with work when they’re ostensibly “off,” flexibility matters to millennials. “Millennials have never been tethered by wires, creating an expectation of freedom-enabling technology that eliminates the traditional in-office 9-to-5,” says Amber Hyatt, director of product marketing for talent-management solutions provider SilkRoad. “They’re more concerned with the work they produce versus where they produce it, and organizations must embrace that view.” Employers can take advantage of this by looking for ways to …

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The Basics of Retirement Plan Fees

You know that putting away money for retirement is important, but do you know what it really costs to manage it on your behalf? Retirement plan fees vary widely, and it’s not always easy to get your hands on hard numbers, which can be frustrating. “The most important thing is to not let your frustration with the lack of transparency when it comes to fees keep you from taking action,” says Desmond Henry, founder of Afflora Financial Life Planning. “At the end of day, employer-sponsored retirement plans are a great benefit that oftentimes includes employer match contributions to help you save for your retirement.” Here’s what you need to know. You May Find That Fees Come in Many Forms Just looking for “fees” on the information you get from the plan sponsor won’t tell you what you’re looking for, because they’re not always called “fees.” Fees may be paid by …

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