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Tuesday, February 13th, 2024

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News and Information

Revisions to the Form 5500 and New Provisions from Secure 2.0

Article from DMJPS

02.06.24


There are new law changes by the United States Department of Labor (DOL), IRS, Pension Benefit Guaranty Corporation(PBGC) and Secure Act 2.0 as regards to employee benefit plans.


Employee benefit plans generally are required to file annual returns/reports about, among other things, the financial condition and operations of the plan. The requirement to file is accomplished by filing a Form 5500 Annual Return/Report of Employee Benefit Plan or Form 5500-SF Short Form Annual Return/Report of Small Employee Benefit Plan, together with required schedules and attachments.


The DOL, IRS, and PBGC use the Form 5500 Annual Return/Reports for enforcement, compliance, and as research tools.


Some of the significant changes to the laws governing employee benefit plans and Form 5500 are described below. This list is not exhaustive, and if you would like to read further on changes involving employee benefit plans, please refer to the complete Secure 2.0 Act of 2022, Title I – Expanding Coverage and Increasing Retirement Savings and to new revised Form 5500 instructions.


  • Changes in Participant-Count Methodology for Small Plan Simplified Reporting Options
  • Automatic Enrollment Provisions
  • Student Loan Payments as Elective Deferrals for Purposes of Matching Contributions
  • Improving Coverage for Part-time Workers
  • Section 128, Enhancement of 403(b) plan
  • Recovery of Retirement Plan Overpayments
  • Updating Dollar Limit for Mandatory Distributions
  • Expansion of Employee Plans Compliance Resolution System
Read More Here

NC Leaders Seek More Career Prep in K-12 Schools

Article from WRAL News

Article Shared by Land of Sky Regional Council

02.08.24


North Carolina businesses and K-12 schools need to work together more closely to training young people for careers soon after high school, North Carolina education and business leaders said Thursday.


The North Carolina Department of Public Instruction and the North Carolina Chamber of Commerce on Thursday published a toolkit to help businesses provide more hands-on learning opportunities for K-12 students.


Businesses want to be more involved in workforce education at the K-12 level, but they often don’t know how, North Carolina Chamber of Commerce President and Chief Executive Officer Gary Salamido said. The health care industry is most interested in working with schools, chiefly for direct-care workers, but broad swaths of industries are, as well. That includes manufacturing and technology and even human resources and finance, he said.


The groups released the toolkit Thursday, in the hopes of boosting the relationship between businesses and schools.


“My hope is that we will see business leaders, literally going online, looking at this toolkit and saying, ‘Oh … these are the schools that I can tap into in my community. And so we're going to call the principal, we're going to call the counselors, we're going to create a plan that shows how we can go in and be a part of these workforce development plans,’” North Carolina Superintendent Catherine Truitt said.


Business leaders’ input helped form the toolkit and includes information on case studies, return on investment, contacts, what things businesses need to do before getting involved, and different programs businesses can get involved with.

Read More Here
Events

Optimum Retail

Tuesday, February 27th

11:00 AM - 12:00 PM


451 N Main St,

Hendersonville

Register Here

Hendersonville

Acupuncture + Wellness

Wednesday, February 28th

3:00 PM - 4:00 PM


1881 Asheville Hwy,

Hendersonville

Register Here

Business Morning Update

Wednesday, February 14th

7:45 AM - 9:00 AM


Elk's Lodge

546 N Justice St, Hendersonville

Register Here

Young Professionals Social

Wednesday, February 14th

5:00 PM - 6:30 PM


Dry Falls Brewery

425 Kanuga Rd, Hendersonville

Register Here

Young Professionals Industry Tour

Friday, February 16th

11:00 AM - 1:00 PM


Blue Ridge Humane Society

88 Centipede Ln, Hendersonville

Register Here

GROW Mills River

Tuesday, February 20th

8:00 AM - 9:00 AM


Mills River Brewery

336 Banner Farm Rd, Mills River

Register Here
View All Upcoming Events

Thank you to our ALL in for HENDO January Contributors!


Member News

Blue Ridge Community College Announces Annual Report for 2022-2023: Momentum-A Year in Motion

Blue Ridge Community College Hosts 44th Annual Career Day

Blue Ridge Community College to Host Spring 2024 Open House on March 5th

DMJPS PLLC Wins Clearlyrated's 2024 Best of Accounting Award for Service Excellence

Henderson County Public Schools - Work Based Learning Programs 2024-2025

iDaph Events - FrostBite Races 10K, 5K & 1-Mile Fun Run

iDaph Events - RAD Half Marathon & 10K

Mast General Store Be A SweetHeart Event

Small Business Center at Blue Ridge Community College Offers Free Training & Courses to Entrepreneurs and Small Business Owners

Smart Start Adult Spelling Bee Fundraiser

St. Paul Mountain Vineyards - March Madness Chili Cook Off

TDA Weekly Happenings 02.12.2024


Have something to include in Member News? Please send information on upcoming events, announcements, and other news your business would like to share with fellow members to: chamber@hendersoncountychamber.org

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Henderson County Chamber of Commerce
204 Kanuga Road, Hendersonville, NC 27839
828.692.1413