National Actuary & Employee Benefits Firm Expands To Denver July 28, 2014 - Nyhart announced today the opening of a new sales and consulting office in Denver, the sixth expansion in four years. Posted and updated July 28, 2014
Nyhart’s San Diego Office Adds Compensation Consultant January 23, 2014 – Nyhart is pleased to announce Steve Rosenberg has recently joined our San Diego office as a Senior Compensation Consultant. Steve has over 25 years of compensation and benefits experience working for various industries. Posted and updated January 23, 2014
MacLeod to Lead Actuarial & Consulting Services For Investment Advisors Nationwide January 21, 2014 – Nyhart announced today the appointment of Cameron MacLeod as the lead for its new National Retirement Plan growth initiative, focusing on the needs of Investment Advisors throughout the United States. Posted and updated January 21, 2014
Nyhart Named One of the 10 Best Companies for Employee Financial Security November 20, 2013 - Nyhart has been named one of 10 Best Companies for Employee Financial Security by The Principal, Inc., in partnership with the Build Network. Posted and updated November 20, 2013
IRS Announces 2014 Plan Limits November 1, 2013 - The IRS has released the cost of living adjustments that affect the dollar limits for both retirement plans and flexible spending accounts for the 2014 tax year. Posted and updated November 1, 2013
2013 ISC Corporate Challenge Champs and Impact October 11, 2013 - For the second year in a row, Nyhart won their division at the 2013 ISC Corporate Challenge. Posted and updated October 11, 2013
Thomas Totten presenting at Fifth Third Innovation Series Nyhart CEO Thomas Totten will be presenting at Fifth Third Bank’s Innovation Series – Strategies for Supercharging Retirement Income for Professionals, Business Owners and Key Employees. The program is scheduled […] Posted and updated September 9, 2013
Nyhart Expands to Texas With Acquisition September 5, 2013 (Indianapolis) – Nyhart, one of the nation’s fastest growing independent actuary and employee benefit consulting firms, announced today the acquisition of Houston-based Frederick Bass & Co., Inc. […] Posted and updated September 5, 2013
Indiana Governor Signs Law Requiring Reporting of OPEB Liabilities On May 8, 2013, Governor Mike Pence signed into law House Enrolled Act 1001, which included requirements for municipal bodies to begin reporting other post-employment benefits (OPEB) liabilities to the […] Posted and updated August 21, 2013
DOMA Decision Has Wide Range of Effects on Employers As indicated in our July newsletter, on June 26th, the U.S. Supreme Court ruled that the definition of “marriage” under the Defense of Marriage Act (DOMA) is unconstitutional and therefore […] Posted and updated August 21, 2013
Benefits Firm to Continue Growth Spurt, add 25 Jobs Nyhart Actuary & Employee Benefits plans to expand its Indianapolis headquarters and create as many as 25 jobs here by 2017, continuing its recent growth spurt. Posted and updated July 1, 2013
IRS Answers Questions at Recent Benefits Conference Recently the IRS had a question and answer session at the 2013 Los Angeles Benefits Conference. These were questions that were submitted by attendees and the IRS officials gave their personal opinions on the matters (their responses do not represent an official opinion from the IRS). Some of the topics discussed are as follows: Posted and updated March 28, 2013
DOL Updates Delinquent Filer Voluntary Compliance Program The DOL’s Employee Benefits Security Administration (EBSA) announced significant changes to the Delinquent Filer Voluntary Compliance (DFVC) program. The changes are immediately effective and support the Administration’s move toward a completely electronic system. Posted and updated March 28, 2013
Health Plan Business Associate Agreements Need to be Updated for Final HIPAA Rules In January, the Department of Health and Human Services (HHS) issued final HIPAA rules that made some significant changes. As a result, health plans will need updated agreements with all business associates. The following provisions must be incorporated into the agreement: Posted and updated March 28, 2013
IRS Releases Revised Correction Program for Retirement Plans The IRS has updated its voluntary correction program for retirement plans, Employee Plans Compliance Resolution System (EPCRS), in Revenue Procedure 2013-12. Below are some highlights of the new Program. Posted and updated March 28, 2013
IRS Provides Relief to 403(b) Plan Sponsors One of the changes in the recently updated version of the Employee Plan Compliance Resolution System (“EPCRS”) is the inclusion of a correction method for plan document failures in 403(b) plans. Posted and updated March 20, 2013
IRS Finds Errors on W-2 Reporting The Employee Plans Compliance Unit (“EPCU”) of the IRS recently sampled W-2 filings that had been provided by employers. As a result of this sampling, the IRS has determined that approximately 75% of employers are not correctly reporting elective deferrals on the Form W-2. Posted and updated March 18, 2013
2012 Taxpayer Relief Act Includes Retirement and Health & Welfare Provisions The American Taxpayer Relief Act of 2012 (also referred to as “fiscal cliff” legislation), recently signed into legislation by President Obama, contained some pertinent retirement and health & welfare provisions, in addition to other changes made by the Act. Posted and updated January 22, 2013
Commission Agreements Must be in Writing by January 1, 2013 December 10, 2012 - For California employers, effective January 1, 2013, all commission agreements for sales employees must be in writing. The requirement was added by California Assembly Bill 1396 which amended labor Code Section 2751. Violators face potentially costly penalties. Posted and updated December 10, 2012
Campaign to Save 401(k) Plans December 4, 2012 - Now that the elections are over, Congress is beginning to work on tax reform. In an effort to reduce the federal deficit, Congress is considering a cut to the contribution limits for 401(k) plans again. The last time Congress passed tax reform, the result was a 70% reduction in the contribution limits. Posted and updated December 4, 2012
IRS Provides Hurricane Sandy Relief November 20, 2012 - On November 16th, the IRS issued Announcement 2012-44, which provides some relief from the normal requirements to receive a loan or hardship distribution from a qualified plan. The period of the relief is for distributions made between October 26, 2012 and February 1, 2013. Posted and updated November 20, 2012
Defined Benefit Plans Required to be Amended in 2012 October 30, 2012 - The Pension Protection Act of 2006 (“PPA”) added a new section to the Internal Revenue Code. Code Section 436 (“Section 436”) sets forth limitations on benefit payments and accruals for defined benefit plans that are “underfunded.” Posted and updated October 30, 2012
2013 Retirement Plan Limits Increase Over the 2012 Level October 25, 2012 - Recently, the IRS released the cost of living adjustments that affect the dollar limits for pension plans and other retirement-related items for the 2013 tax year. Posted and updated October 25, 2012
Moving Ahead for Progress in the 21st Century (MAP-21) Legislation Passed October 24, 2012 – Over the past few years, single-employer defined benefit plan funded percentages have declined significantly due to the investment losses incurred in 2008 and the historically low […] Posted and updated October 24, 2012
Nyhart Actuary to Speak at Conference of Consulting Actuaries September 24, 2012 - Nyhart actuary and Principal, John Dowell, will be speaking at the 2012 Conference of Consulting Actuaries in October. John will be a member of a panel of actuaries that will be discussing the evolution of pension funding stabilization in MAP-21. Posted and updated September 24, 2012
Presentation on Retirement for Healthcare Professionals September 24, 2012 - Nyhart actuary and CEO Tom Totten will be speaking at an engagement to discuss a wide range of strategies that can be used for healthcare professionals in preparing for retirement. This event will be held in the Indianapolis area on October 3rd and is open to the public. Posted and updated September 24, 2012
Nyhart Actuary Speaks to Brazilian Community September 24, 2012 - Nyhart's partnership with GAMA Consultores Associados, one of Brazil's largest pension and retirement consulting firms, provided an opportunity for Nyhart actuary Randy Gomez to speak at a GAMA conference regarding opportunities to improve the Brazilian private employer retirement system. Posted and updated September 21, 2012
Nyhart Acquires California Actuarial & Compensation Consulting Firm September 6, 2012 – Nyhart announced today that it has acquired The Epler Company, a regional actuarial, benefits and employee compensation firm based in San Diego, CA. Posted and updated September 5, 2012
2012 Indiana Healthcare Benefit Survey Results Released August 3, 2012 - Nyhart has released the results of its 2012 Indiana Healthcare Benefit Survey. The survey reached 221 companies across the state reflecting the benefit plans of 187,000 Hoosiers. Posted and updated August 2, 2012
Annual Participant Fee Disclosure on the Horizon August 3, 2012 - The August 30, 2012 deadline for the annual disclosures under the final regulations for participant fee disclosure is rapidly approaching. The Regulations will only apply if a plan is a defined contribution plan in which participants direct their own investments. Posted and updated August 2, 2012
Congress Passes Transportation Bill Which Includes Pension Provisions July 2, 2012 - Defined benefit plans received welcome minimum funding relief when Congress passed the Highway Bill on June 29, 2012. On the flip side, PBGC premiums are increasing. Posted and updated July 2, 2012
IRS Provides Additional Guidance on $2,500 Limit on Health FSAs June 12, 2012 - The Internal Revenue Code $2,500 limit on salary deferrals under a health Flexible Spending Account (FSA) is effective for taxable years beginning after December 31, 2012. IRS Notice 2012-40, provides guidance on the application of the limit. Posted and updated June 15, 2012
Step-by-Step Guide to Fee Disclosures May 17, 2012 – The deadline for plan sponsors and service providers to comply with the final service provider fee disclosure regulations is July 1, 2012. Nyhart, in cooperation with […] Posted and updated May 17, 2012
New Normal Retirement Age Guidance from IRS Anticipated May 10, 2012 - New guidance from the IRS on normal retirement age regulations for governmental plans was addressed in Notice 2012-29. Posted and updated May 10, 2012
Department of Labor Issues Guidance on Fee Disclosure May 8, 2012 - The Department of Labor issued a Q&A Bulletin for plan administrators and service providers in order to provide further guidance on fee regulations. Posted and updated May 8, 2012
Nyhart Expands by Entering St. Louis Market April 4, 2012 (Indianapolis) – Nyhart, one of the nation’s largest independent actuarial and employee benefits consulting firms, today announced it has opened its first office in St. Louis.  Nyhart […] Posted and updated April 4, 2012
Nyhart Actuary Receives Enrolled Actuary Designation March 13, 2012 - Actuary, Carter Angell, receives the Enrolled Actuary designation from the Joint Board for the Enrollment of Actuaries. Posted and updated March 13, 2012
Nyhart Consultant Receives Prominent Fiduciary Designation March 9, 2012 - Retirement Advisor and Educator, Eric Roberts, receives Accredited Investment Fiduciary® (AIF®) designation from the Center for Fiduciary Studies. Posted and updated March 9, 2012
Nyhart CEO Admitted to Business PhD Program February 20, 2012 - Actuary & CEO Tom Totten has been selected to the prestigious Executive PhD program at Oklahoma State University. Posted and updated February 20, 2012
Nyhart Actuary Co-Authors Actuarial Reference Book February 8, 2012 - Actuary Pat Scahill contributes to the Society of Actuaries new guide for Insurance, Investment, Retirement & Health Industries and the practice of actuarial science. Posted and updated February 8, 2012
Nyhart Adds New Flex Plan Technology For Clients January 1, 2012 - Addition of Evolution 1 Flex Plan software puts Nyhart on the leading edge of benefit administration. Posted and updated January 1, 2012
2011 Indiana Healthcare Benefit Survey Results Released September 13, 2011 - Nyhart's newest research study reveals rising deductibles and lower employer subsidies as healthcare benefit costs rise for Hoosier workers. Posted and updated September 13, 2011
Nyhart Announces Latin American Pension Partnership August 18, 2011- Nyhart announced today the launch of a new strategic partnership with GAMA Consultores Associados, one of Brazil’s largest pension and retirement consulting firms. The alliance gives both firms an expanded expertise and technology that meets a growing demand from their international client-base. Posted and updated August 18, 2011
Transparency in 401(k) Expenses At Center of July Webinars June 8, 2011 - Nyhart will host two webinars/live seminars in July to discuss IRS 408(b)2 regulations and the impact on exposing hidden fees and costs for 401(k) benefits. Posted and updated June 8, 2011
Nyhart Continues Expansion, Merges with Atlanta Public Pension Firm June 6, 2011 - Nyhart announced today the merger with Atlanta-based Stanley, Holcombe & Associates, creating one of the most experienced public pension teams in the nation. Posted and updated June 6, 2011
Education Series to Focus On Pension Sustainability & Costs May 4, 2011 – Nyhart announces an educational series for CFOs and defined benefit plan sponsors in government and private businesses who currently offer pension benefits. Posted and updated May 4, 2011
Nyhart Commences 2011 Indiana Health Care Benefit Survey April 13, 2011 - Nyhart commences the second annual review of their Indiana Health Care Benefit Survey to evaluate and provide benchmarks to Indiana companies for their health care benefits. Posted and updated April 13, 2011
Nyhart Expands Retirement Benefits Administration Business With Kansas City Acquisition December 22, 2010 – Nyhart announces acquisition of ESOP and benefit administration division of Kansas City based Alliance Benefit Group North Central States. Posted and updated December 22, 2010
401(k) Retirement Study Reveals Average Employee Can’t Retire Until 73 December 1, 2010 - Nyhart releases our “Fall 2010 401(k) Retirement Readiness Study” as part of the firm’s ongoing look at the effectiveness of the traditional 401(k) retirement benefit. Posted and updated December 1, 2010