02 May

May TrussConnect Newsletter

Congratulations Paul Cohen!
Ingram’s Magazine 40 Under Forty Class of 2018

IRS Reverses Changes to 2018 HSA Family Contribution Limits

On April 26, 2018 the IRS announced relief for taxpayers with family coverage under a High Deductible Health Plan (HDHP) who contribute to a Health Savings Account (HSA). For 2018, taxpayers with family coverage under an HDHP may treat $6,900 as the maximum deductible HSA contribution.

A change in the inflation adjustment calculations for 2018 under the Tax Cuts and Jobs Act, reduced the maximum deductible HSA contribution for taxpayers with family coverage under an HDHP by $50, to $6,850 (announced March 5, 2018).
Revenue Procedure 2018-27 announces this relief for affected taxpayers and allows the $6,900 limitation to remain in effect for 2018. The $6,900 annual limitation was originally published in Revenue Procedure 2017-37.

For more information, please see the IRS News Release.

Have questions? Contact your advisor today: 913.341.8998

Transitional Relief Extended Again

On April 9, 2018, the Department of Health and Human Services (HHA) extended transitional relief plans through December 2019. Transitional relief applies to plans that existed before healthcare reform, and that have been allowed to continue without meeting all the Affordable Care Act (ACA) requirements.

For employers, this may allow them to retain plans that are less expensive than ACA compliant plans which utilize uniform rating methodology and are not subject to health underwriting.

Complete details from insurance carriers have not yet been received, but we anticipate all will allow employers the option to continue their transitional relief plans.

For more information the HHS issued this Final Notice of Benefit and Payment Parameters (NBPP) for 2019, as well as a press release offering a brief summary of the regulations.

Have questions? Contact your advisor today: 913.341.8998

Infographic: Six Secrets of Injury-Free Workplaces
Provided by Missouri Employers Mutual 

30 Mar

April 2018 TrussConnect

TrussConnectBanner4Pardot

Real Media Featured CEO Steve Nicholson in LinkedIn Business Series

Real Media LLC recently introduced a new LinkedIn business series called “Real Talk.” Joel Goldberg hosts KC Metro CEOs, Business Owners, Thought Leaders and Influencers to talk about what they do, how they do it, and what they are doing in our community. We are proud to be a part of this new series and our CEO Steve Nicholson was featured in the first episode. Check-out Real Media’s LinkedIn page for updates, clips, and future guests! These area leaders are great people doing great things!

https://www.linkedin.com/feed/update/urn:li:activity:6382706713233096706

In Case You Missed It:
TrussU Webinar: Preventing Harassment and Discrimination

This free webinar discusses the “why” and “how” of preventing and responding to all instances of discrimination and harassment in your organization.

You’ll learn what the EEOC considers an effective program of prevention, training, and response. You’ll also learn about training options available for consideration. Finally, you’ll get practical instruction into how to conduct your own internal investigations in response to a complaint of harassment, discrimination, or retaliation. The recorded webinar is available here: https://trussadvantage.wistia.com/medias/g6cnrl2mz0

Join the Two West 4.01K Race! (Insert flyer attached)

We invite you to join our friends at Two West in supporting Junior Achievement of Greater Kansas City by participating in the 4.01K Race for Financial Fitness-Virtual Edition. This fitness challenge event is a great way to log the workouts you were already going to do from April 2 – 19 and compete against others in your peer group. Or it’s a great reason to start working out!

As a sponsor of this event, Two West will make a contribution to Junior Achievement for each friend of Two West that signs up. There are a limited number of free entries so register today! Deadline to register is April 2. www.racery.com/r/401k-race-financial-fitness-virtual-edition/

Join us! Here are a few of our upcoming webinars

April 19, 2018: Investing in your Portfolio presented by Two West Advisors
Our financial education webinars are designed to help you make that plan.

May 2, 2018: A Fiduciary’s Approach to Investments Edition presented by Two West Advisors

Understand the fiduciary implications of investment selection, follow best practices, and maximize participant outcomes.

 

 

06 Mar

Truss Alert: IRS Announces Changes to 2018 HSA Family Contribution Limits:

On Monday, March 5, 2018 the IRS announced that the previously released maximum family contribution limit for a Health Savings Account is reduced from $6,900 to $6,850 in 2018. This change is effective immediately, and any family contribution to an HSA exceeding the $6,850 could be subject to taxes and penalties.

This HSA contribution change is a result of a provision in H.R. 1 (“Tax Reform”) that changed the way inflation-related increases are calculated from the Consumer Price Index (CPI) to the new factor known as “chained CPI.”

For more information, please see the IRS Bulletin No. 2018-10.

Have questions? Contact your advisor today: 913.341.8998

06 Mar

March 2018 TrussConnect

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Don’t Count on Luck When it Comes to Protecting Your Business

Merchants Bonding Company Named Truss a Champion in Surety 

Merchant Bonding Company recognized the Truss Surety team for their excellence and year-over-year achievements. Champions represent some of the top surety professionals in the nation while demonstrating surety professionalism, commitment to future growth and understanding of common sense underwriting approach.

Learn more about Merchants Bonding Company.
http://trussadvantage.com/our-services/surety-bonds/

TrussU Presents: Preventing and Responding to Harassment, Keeping the EEOC Happy

Hosts: Jeff DeWolf, Practice Leader  |  Stephanie Moore, SPHR, Senior Consultant
March 20, 2018  |  12 p.m. – 1 p.m. CSP

Due to the popularity of our first free webinar on this topic, we are offering this second session.

Unless you’ve been living on a different planet, you know that harassment is still alive and well in our society. Employers are obligated to provide a safe and respectful work environment for employees. To do this, the Equal Employment Opportunity Commission expects us to both prevent and respond to discrimination and harassment in our work places.

Join us as we share our thoughts on best practices for demonstrating your commitment to preventing workplace disrespect and responding to it should it occur. While we’d like to keep the EEOC happy with our efforts, it’s the right thing to do to keep our employees happy with their experiences at work.

Space is limited to 50 participants.
One Professional Development Credit Available (HRCI and SHRM)
Register today at: https://www.eventbrite.com/e/truss-webinar-preventing-and-responding-to-harassment-additional-session-tickets-43846623431

Two West Featured in Dimensional’s Newsletter

The winter edition of Dimensional’s DC Dimensions features an in-depth discussion with Two West Advisors’ CEO Marko Ungashick, AIF® and CIO Vern Cushenbery, CFA, CPA. In this feature, “Focusing on Income for Better Outcomes,” they dive into their views on America’s failing retirement plan system and what they believe is the key to solving the income puzzle.

Two West believes that America’s retirement plan system is ready for a makeover and they are focusing their efforts towards educating plan sponsors and participants and providing the tools and investment solutions needed to help shift the focus towards a sustainable income in retirement.

For more details about how Two West is working to help create better outcomes for retirees, read the latest edition: http://www.twowestcompanies.com/dc-dimensions-feature/ .

02 Feb

February 2018 TrussConnect

2017 ACA Reporting Requirements and Deadlines

A quick reminder that as a part of the Affordable Care Act (ACA), some employers are required to complete and send forms 1094/1095 to employees and the IRS at the end of each tax year.

Who has to report?

  • All Employers with 50+ Employees
  • ALL Self-Insured Employers (including carrier level-funded)

When are the 2017 forms due?

  • 1095 Forms to Employees: March 2, 2018
  • 1094 Forms to IRS: February 28, 2018

What can Truss do to help you?

Truss has partnered with DIY1095, a complete Do-It-Yourself form generation engine that delivers a simple, easy-to-use mechanism all to help you produce 1094/1095 forms.

  • What is the cost? $250 for employers with under 100 employees and $500 for employers with 100 or more employees.

If you have any questions about the ACA reporting or the DIY1095 product, please contact your Truss client advisor.

TrussU Presents: Preventing and Responding to Harassment, Keeping the EEOC Happy

Hosts: Jeff DeWolf, Practice Leader | Stephanie Moore, SPHR, Senior Consultant

February 27, 2018
12 p.m. – 1 p.m. CST

Unless you’ve been living on a different planet, you know that harassment is still alive and well in our society. Employers are obligated to provide a safe and respectful work environment for employees. To do this, the Equal Employment Opportunity Commission expects us to both prevent and respond to discrimination and harassment in our work places.

In this free webinar, we share our thoughts on best practices for demonstrating your commitment to preventing workplace disrespect and responding to it should it occur. While we’d like to keep the EEOC happy with our efforts, it’s the right thing to do to keep our employees happy with their experiences at work.

Space is limited to 50 participants.
One Professional Development Credit Available (HRCI and SHRM)

Register today at: https://www.eventbrite.com/e/truss-webinar-preventing-and-responding-to-harassment-tickets-42240084229 

Two West and Spencer Fane Present: Fiduciary 101

Join Two West Companies and Spencer Fane LLP as they help plan sponsors understand and comply with the strict legal obligations that apply to plan fiduciaries under the Employee Retirement Income Security Act (ERISA). Each webinar is pre-approved for one HRCI or Society for Human Resource Management (SHRM) recertification hour.

February 7, 2018
Noon CST 401(k) https://register.gotowebinar.com/register/4126647847074964483
1 p.m. CST 403 (b) https://register.gotowebinar.com/register/8976312162218220547

For a complete list of upcoming webinars visit http://www.twowestcompanies.com/boardroom-webinars/

 

Happy Valentine’s Day

Happy Valentine’s Day from your friends at Truss.

04 Jan

January 2018 TrussConnect

WORKERS COMPENSATION POLICY REMINDER

Did you know that if your entity is a Limited Liability Corporation in Kansas, your members (owners) are automatically excluded from coverage under your Workers Compensation policy? To get coverage for an owner, they must complete an Election Form. See attached. This can be especially important if you make changes to your ownership in the middle of your policy term and forget to advise your Truss representative. A Workers Compensation claim could be denied. Form: Election of Individual to Come Under Act

WHERE DOES THE HEALTH CARE INDUSTRY STAND AT THE END OF 2017?
By Alan Goforth, benefits pro
This article originally appeared on December 27, 2017, at benefitspro.com

Brokers, carriers, and politicians have written and spoken volumes about the status of health care benefits in 2017. As the year winds down, is it possible to sum up the 12-month roller-coaster in just one word? “Uncertain,” says Liz Gallops, individual insurance specialist for Allegacy Benefit Solutions in Winston-Salem, North Carolina.
Read More

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HAPPY NEW YEAR!