Employee Benefit Plans

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Minnesota’s New Paid Leave Program

Minnesota's new Paid Leave Program goes into effect on January 1, 2026. Employers should be aware of the new program - who is eligible, information on funding and benefit structure of the program, and their responsibilities, which include the initial wage reports that were due October 31, 2024.
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401(k) Plan Sponsor – Fiduciary Responsibility

Offering a 401(k) plan to your employees is not just a perk—it's a significant fiduciary responsibility under ERISA that requires oversight and compliance to shield both the plan and its participants. You need to follow best practices for mitigating liability while securing your team's financial future.
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Golden Nest Egg for the Self-Employed

A solo 401(k) plan is a powerful retirement savings tool if you run a one-person small business. Here’s how you can help save for a golden nest egg and reap tax advantages.
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Employer-Matching Retirement Contributions for Student Loan Payments

Did you know you can now match student loan payments with retirement contributions? Find out how this change can make your benefits package more competitive and appealing.
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IRS Releases Inflation Adjustments for 2025

The IRS has announced significant inflation adjustments for the 2025 tax year, impacting standard deductions, income tax brackets, and various tax credits. Discover how the updates could affect your tax strategy and financial future.
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New Olsen Thielen Principals Elected

Olsen Thielen has elected four new principals to our firm leadership including: Rob Mathewson, Tony Oman, Charlie Sparks, and Carrie Sundberg.
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2025 Amounts for Health Savings Accounts

The IRS recently released the 2025 Health Savings Account (HSA) amounts, which have been adjusted for inflation.
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Tax-Favored Retirement Plan

If you’re a business owner without a retirement plan, establishing one is simpler than you may think. And there still may be time to set up a tax-favored retirement plan for LAST year, depending on your situation.
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Retirement Changes for Long-Term Part-Time Employees

As of 2024, certain long-term part-time employees are eligible to participate in 401(k) plans. This article provides a detailed understanding of the changes to retirement plan rules brought about by the SECURE Acts.
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Misrepresentation of Wellness and Nutrition Expenses

The IRS has issued a warning against companies misrepresenting personal wellness and nutrition expenses as medical expenses. Understand the potential tax implications and how to use your health spending accounts responsibly.
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Emergency Savings Accounts

In 2024, new provisions of the Secure Act 2.0 may allow businesses to help non-highly compensated employees in financial emergencies to take a withdrawal from their 401(k), 403(b) or 457(b) plan using emergency savings accounts that are linked to the plan.
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Family and Medical Leave Act

Do you know if your employees are covered by the Family and Medical Leave Act (FMLA)? In this article, get the details on employee thresholds and leave provisions.
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Educational Assistance Program

Education benefits help attract, retain and motivate employees. One popular fringe benefit is an education assistance program that allows employees to continue learning and perhaps earn a degree with financial assistance from their employer.
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Beneficiary Designations

A mistake while filling out beneficiary forms can cause the form to be deemed invalid or may cause account holdings to be dispersed in a way not intended by the account holder and beneficiary forms on accounts such as IRAs supersede your last will and testament.
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2024 HSA Amounts

The IRS has announced the inflation-adjusted 2024 HSA Amounts. Here they are, along with the benefits of Health Savings Accounts (HSAs).
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