From the Desk of Tim Olson

Welcome to 2017!

Most of you are probably thinking, why isn’t that guy retired yet?

It’s because I can’t stop thinking about benefits. I know that may sound a little weird, but I can’t help it. I love this job too much. The industry, the people, and the complex problems I get to solve everyday are what gets me up in the morning.

Here at The Olson Group, we believe a company’s greatest asset is its employees. Without your hard-working, energetic, benevolent staff how is your business supposed to function?

The answer is, it won’t. If the employees aren’t happy, the company isn’t happy.

That is why we created BenefitsEdge - A Benefits Strategic Scorecard.

Our new benefits strategic scorecard analyzes where your business may need some help in neglected areas related to benefits. We can assist you in creating a 3-5 year strategy that will not only improve your company overall but prepare your business for the future.

Talk to one of our representatives for more information and see if BenefitsEdge is right for you!

Sincerely,Tim Olson

From the Desk of Tim

Benefits for Same-SexSpouses

Mandated Benefits

Health Plans

Retirement Plans and Pensions

TOG Update

CONTENT

1E-NEWS | FIRST QUARTER 2017 VOLUME 14, ISSUE 1

First Quarter 2017 Volume 14, Issue 1

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“Success is not the key to happiness. Happiness is the key to success. If you love what youy are doing, you will be successful.”-Albert Scheitzer

“Good, better, best. Never let it rest. ‘Til your good is better and your better is best.”-St. Jerome

HAPPY NEW YEARBenefits for Same-Sex Spouses

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have issued proposed regulations providing that a marriage of two individuals, whether of the same sex or the opposite sex, will be recog-nized for federal tax purposes if that marriage is recognized by any state, possession, or territory of the United States (among other things).

The proposed regulations implement the Supreme Court’s 2015 decision in Obergefell v. Hodges, which held that states are required to license a marriage between two people of the same sex, and to recognize a marriage between two people of the same sex when their marriage was lawfully licensed and performed out-of-state. IRS Notice 2015-86 also provides guidance on the application of the Obergefell decision to qualified retirement plans and to health and welfare plans, including cafeteria plans.

Prior Guidance

Federal agencies have issued the following guidance implementing the June 2013 U.S. Supreme Court decision that invalidated part of the Defense of Marriage Act (DOMA), which denied federal benefits to legally married same-sex couples:

Employee Benefit Plans. The terms “spouse” and “marriage” in Title I of ERISA and in related agency regulations will generally be read to include same-sex couples legally married in any state that recognizes such mar-riages, regardless of where they currently live. Among other provisions, Title I includes COBRA continuation coverage requirements and the HIPAA portability rules.

Federal Tax Guidance. Same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for all federal tax purposes (including employee benefits). More specific IRS guidance includes:

FMLA Guidance. Updated agency guidance clarifies the definition of “spouse,” for purposes of the Family and Medical Leave Act, to mean a husband or wife as defined or recognized under state law for purposes of marriage in the state where the employee resides, including common law marriage and same-sex marriage.

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“Someone is sitting in the shade today because someone planted a tree a long time ago.”

Warren Buffett

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Mandated Benefits

Social Security Taxes

Every employer must pay social security taxes at the same rate paid by their employees. The Social Security Administration offers information about how to file an employer W-2 form, how to hire employees not cov-ered by social security, and other information for employers:

• Information and Resources for Employers - Basic information and resources for employers.

• Social Security: Business Services Online - A suite of applications enabling organizations and authorized individuals to conduct business with and submit confidential information to the Social Security Admin-istration.

• Employer W-2 Reporting Instructions and Information - A compre-hensive guide to filing Form W-2 with the Social Security Administra-tion. Employers may file electronically.

• Instructions for Hiring Employees Not Covered by Social Secu-rity - Instructions on what you should do if you hire an individual not covered by social security.

Unemployment Insurance

Businesses with employees are required to pay unemployment insurance taxes under certain conditions. If your business is required to pay these taxes, you must register your business with your state’s workforce agency. Please see contact information for your state’s unemployment insurance agency.

Workers’ Compensation

Businesses with employees are required to carry Workers’ Compensation Insurance coverage through a commercial carrier, on a self-insured basis, or through the state Workers’ Compensation Insurance program. Visit your state’s Workers’ Compensation Office for more information on your state’s program.

Leave Benefits

The majority of common leave benefits offered by employers are not required by federal law, and are offered to employees as part of the em-ployer’s overall compensation and benefits package. These leave benefits include holiday/vacation time, personal leave, sick leave, and funeral/bereavement leave. However, employers are required to provide leave under the Family and Medical Leave Act.

Family and Medical Leave

The Family and Medical Leave Act (FMLA) provides an entitlement of up to 12 weeks of job-protected, unpaid leave during any 12-month period to eligible, covered employees for the following reasons:

1) birth and care of the eligible employee’s child, or placement for adop-tion or foster care of a child with the employee;

2) care of an immediate family member (spouse, child, parent) who has a serious health condition; or

3) care of the employee’s own serious health condition. FMLA requires group health benefits to be maintained during the leave as if employees continued to work instead of taking leave.

FMLA applies to private employers with 50 or more employees, and to all public employers. The following resources provide employers with information on how to comply with FMLA:

• Family Medical Leave Act: Compliance Assistance - Information and resources that explain employer responsibilities under FMLA.

• Family and Medical Leave Act Advisor - Provides information about employee eligibility under FMLA, including valid reasons for leave; employee/employer notification responsibilities; and employee rights and benefits.

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“Just don’t give up trying to do what you really want to do. Where there is love and inspiration, I don’t think you can go wrong.”

Ella Fitzgerald

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Health Plans

Health insurance is probably the most important benefit that employers provide to their employees. While current federal law (including the Em-ployee Retirement Income Security Act or ERISA) does not require any employer to establish a health benefits plan, offering health coverage is often a necessary form of compensation for an employer to remain com-petitive in the marketplace.

COBRA Benefits

The Consolidated Omnibus Budget Reconciliation Act (COBRA) provides certain former employees, retirees, spouses, former spouses, and de-pendent children the right to temporary continuation of health coverage at group rates. Businesses with 20 or more employees on more than 50 percent of its typical business days in the previous calendar year are required to provide COBRA when employees are terminated or laid off. In addition,

it is important to check your state laws for continuation of coverage for companies with less than 20 employees. Please see our State Employ-ment Law Section for more information regarding state continuation of health benefits. The following resources describe an employer’s require-ments under COBRA.

CONTACT SERVICES

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AFLAC1-800-992-3522www.aflac.com Allstate Benefite1-800-521-3535www.allstateatwork.com

American Funds*1-800-421-0180www.americanfunds.com Ameritas1-800-527-0043www.ameritas.com Blue Cross Blue Shield1-800-232-0942www.nebraskablue.com Coventry Health Care1-800-288-3343www.chcnebraska.com

Fidelity Investments*1-800-724-2997www.fidelity.com Guardian Life1-800-627-4200www.guardianlife.com Lincoln Financial1-800-423-2765www.lfg.com OneAmerica (AUL)*1-800-561-3329www.oneamerica.com Enrollment Fax: (317) 285-1728 Regional Care, Inc.1-800-795-7772www.regionalcare.com United Healthcare1-800-992-3522www.uhc.com UNUM1-800-275-8686www.unum.com

An Employer’s Guide to Group Health Continuation Coverage Under COBRA - This booklet summarizes COBRA continuation coverage and explains the rules that apply to group health plans. It is intended to assist employers that sponsor group health plans to comply with COBRA. (in Spanish)

COBRA Continuation Health Coverage Frequently Asked Questions (In English) - Questions and answers that provide a general explanation of requirements under the Consolidated Omnibus Budget Reconciliation Act (COBRA) for continuation of group health coverage that might otherwise be terminated.

Retirement Plans and Pensions

The importance of routinely setting aside savings makes the Retirement Plan one of the most valuable long-term benefits that employers can offer their employees. Many employees today also expect their workplace to offer some form of retirement benefit. Largely through tax savings, fed-eral law encourages—but does not require—both employers and employ-ees to participate in retirement plans.

Selecting a Plan

• Small Business Retirement Savings Advisor - Interactive ques-tion and answer tool that helps self-employed individuals and small business employers determine which type of retirement plan is most appropriate for their businesses.

• Choosing A Retirement Solution for Your Small Business - A pam-phlet describing the retirement savings options available to small businesses and comparing the features of each option.

• Choosing A Retirement Solution for Your Small Business - Interac-tive website to help small businesses select a retirement plan suitable for their employees.

• Tips for Selecting and Monitoring Service Providers for Your Em-ployee Benefit Plan - This tool provides tips to help an employer comply with ERISA’s fiduciary responsibility provisions when selecting and monitoring a service provider for its plan.

• Small Business Guide to Federal Pension Insurance - Guide to help employers understand legal requirements for pension plans.

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The Olson Group, Inc

The Olson Group16820 Frances Street Suite 202 Omaha, NE 68130-2391 info@theolsongroup.com Toll Free: (866) 289-1046 Phone: (402) 289-1046 Fax: (402) 289-1012

Watko Benefit Group7301 West 129th Street Suite 155 Overland Park, KS 66213 gwatkins@watkobenefit.com Toll Free: (877) 685-0006 Phone: (913) 685-0000 Fax: (913) 685-0068

* SECURITIES OFFERED THROUGHCAMBRIDGE INVESTMENT RESEARCH 1776 PLEASANT PLAIN ROAD FAIRFIELD, IA 52556-8757 (641) 472-5100MEMBER FINRA, SIPCCAMBRIDGE INVESTMENT RESEARCH IS NOT AFFILIATED WITH THE OLSON GROUP.

THE OLSON GROUP NEWS AND UPDATES

The Olson Group is still expanding! We are now up to 27 hard-working team members.

We are pleased to welcome in 2017:

Chelsey Kastrup - Retirement SpecialistTravis Martin - Business Development

Stay tuned for more news and industry trends in the next issue!