Russ continues to support districts across the state with their risk management programs. Changes in dependent status - children can age out of dependent status or become eligible for dependent status during the year. ", [SHRM members-only toolkit:
Why Send an Open Enrollment Email to Employees? All rights reserved. Here are a few different scenarios you might find yourself in, and some advice for how to approach your 401K. document.getElementById( "ak_js_3" ).setAttribute( "value", ( new Date() ).getTime() ); Give us a ring, send an email, or fill out the form below. 1.) !.,-_*|+~#). How to Write An Excuse Letter for Missing Work (with Examples) And to make matters worse, employees are skittish about their retirement savings right now thanks to COVID. Send them out as soon as you know that the applicant is not suitable for the role. If Dave finds himself suddenly having to pay for something unexpected (like a broken transmission or a flooded basement) and doesnt have cash saved up, his options for paying off this bill are to a) raid his existing 401K funds and pay a penalty, (b) take out a loan against his account, reducing his after-tax pay by paying back principle and interest, or (c) use a high-interest credit card. Please let us know if you have questions! Build specialized knowledge and expand your influence by earning a SHRM Specialty Credential. To provide managers and supervisors with the guidance they may need in times of crucial communication, Employee & Labor Relations has prepared sample letters for supervisors to deliver to employees: Please consult with your Employee Relations Consultantat UC Davis and UC Davis Health regarding any of these letters. This is nothing new. 4 out of 5 can find a marketplace plan for $10 or less a month with cost assistance! What is Evidence of Insurability (EOI)? Provide information in a wide variety of ways including: Ask your employees if they like the way information is being provided, if they would prefer information be distributed in different ways, or if they have questions that have yet to be answered. Missing open enrollment can be a costly mistake for employees, so employers should take adequate steps to help their employees through the enrollment process. In order to ensure that none of our employees in this status were missed by the cutoff date, HR Leave Administration .