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John Hancock, Benefit Partners Financial Group
IF PLAN SPONSORS need proof that their match is a critical factor affecting participants’ deferral rates, they need look no farther than the 401(k) plan of COFCO International USA, an agriculture supply chain company, headquartered in Chicago, Illinois. The plan’s 15.3% average deferral rate is largely due to its qualified nonelective contribution (QNEC) of 3%, plus a 50-cent match of all that an employee defers with no cap.
How this match came to be stems from the company’s formation: Two companies merged one with a 100% company match with no cap, the other with a 3% safe harbor contribution but no match, explains Sharon Kacsits, director of human resources (HR) North America at COFCO.
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Sewa International, AAPI doctors hold free online consultations for COVID patients in India
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Last Updated: May 18, 2021, 11:00 AM IST
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Volunteering doctors with American Association of Physicians of Indian-Origin (AAPI) and non-profit Sewa International s medical wing, Doctors for Sewa are holding private consultations with potential coronavirus patients through the eGlobalDoctors online platform, according to a statement on Monday.
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Two major Indian diaspora organisations in the US have partnered with an online telehealth platform to provide free medical advice for COVID-patients in India where a second wave of the coronavirus has left the country s public health system severely strained.