Healthcare Provider Update: Healthcare Provider for CBRE Group CBRE Group does not operate its own healthcare facility but partners with various healthcare providers to offer employee health benefits. This typically includes a variety of insurance options that may involve working with national insurers, enabling employees to access a diverse range of healthcare services. Potential Healthcare Cost Increases in 2026 In 2026, healthcare woes are poised to intensify for CBRE Group employees as they may face substantial increases in out-of-pocket costs. The expiration of enhanced federal subsidies from the Affordable Care Act (ACA) could lead to premium hikes that exceed 60% in some states, significantly impacting the affordability of healthcare. Additionally, economic pressures and rising medical expenses are compelling employers, including CBRE, to adjust benefits structures, potentially transferring more healthcare costs to employees. Consequently, employees should proactively review their health plans and consider strategies to mitigate rising expenses in the coming year. Click here to learn more
The Internal Revenue Service (IRS) recently revealed that a staggering amount over $1 billion
in tax refunds from the 2020 tax year remains unclaimed. This considerable sum represents excess payments that CBRE Group employees, among others, have not yet reclaimed for various reasons, including incomplete filing forms and the intricacies of tax regulations.
Moreover, an additional $7 billion in unclaimed funds are overlooked annually due to missed claims on earned-income tax credits, child tax credits, and recovery rebate credits for both the 2020 and 2021 tax years. This highlights a pervasive issue within the tax system where employees at major corporations like CBRE Group could miss out on substantial financial returns simply because they are unaware of or do not fully understand applicable tax laws and benefits.
For CBRE Group employees, it’s critical to recognize that time is still on your side if you've forgotten to claim rightful credits or deductions. The IRS allows refund claims up to three years post the original filing deadline, typically April 15. Due to pandemic-related delays, the filing deadline for the 2020 tax year has been extended to May 17, providing an extra window to correct your filings and claim your dues before they revert permanently to the U.S. Treasury after the deadline.
At the state level, unclaimed funds are even more common. For instance, Nebraska has seen around $420 million in unclaimed property tax deductions since 2020. Similarly, in New Mexico, more than 16,000 residents failed to claim approximately $6 million in rebate credits anticipated for 2022.
A significant portion of these unclaimed refunds can be attributed to taxpayers who either did not file a return or failed to update their mailing addresses with the IRS, resulting in refunds that were never delivered. In 2020, the median amount of these unclaimed refunds was $932 per taxpayer.
The complexity of the tax code often deters taxpayers from pursuing their entitlements, including lesser-known deductions such as those for home offices and specific benefits for owners of pass-through entities. Ryan LoRusso, a partner at Withers, mentions that even tax experts frequently overlook benefits due to the code's complexities.
Most states align with the federal deadline of May 17 to file claims for the 2020 tax year.
According to Lucy Dadayan from the Urban-Brookings Tax Policy Center, most states offer a three-year window to file for unclaimed refunds, mirroring the IRS.
However, filing an amended return can be both challenging and costly, as Jamie Yesnowitz, a tax principal at Grant Thornton, emphasizes. The financial and administrative burdens of filing amended returns might deter individuals, especially when the potential savings do not justify the fees.
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Strategic estate planning is crucial in this environment. Consider a person with substantial assets, such as a $3 million brokerage account and a $3 million tax-deferred retirement account, planning to distribute wealth to family and charities. Understanding the tax implications and available credits or deductions can significantly affect the financial outcome of such legacies.
In summary, the complexities of tax laws mean many potential refunds and credits go unclaimed. CBRE Group employees need to be proactive and informed about their tax filings to optimize potential refunds and credits, enhancing their personal financial management and engaging more deeply with the broader financial and economic landscape.
CBRE Group employees, particularly those nearing or in retirement, should also be vigilant about tax scams. During tax season, retirees are often targeted by fraudulent schemes, including fake IRS calls demanding immediate payment. The IRS warns that these calls are scams, exploiting fears about law enforcement and compliance. A report by the Treasury Inspector General for Tax Administration in February 2021 indicated that over $10 million was lost to such scams in the previous year, highlighting the need for increased vigilance.
What is the 401(k) plan offered by CBRE Group?
The 401(k) plan at CBRE Group is a retirement savings plan that allows employees to save a portion of their salary before taxes are taken out.
How can employees of CBRE Group enroll in the 401(k) plan?
Employees of CBRE Group can enroll in the 401(k) plan through the company’s benefits portal or by contacting the HR department for assistance.
Does CBRE Group offer a matching contribution for the 401(k) plan?
Yes, CBRE Group offers a matching contribution to the 401(k) plan, which helps employees maximize their retirement savings.
What is the vesting schedule for CBRE Group's 401(k) matching contributions?
The vesting schedule for CBRE Group's matching contributions typically follows a standard schedule, which can be reviewed in the employee handbook or benefits portal.
Can employees of CBRE Group take loans against their 401(k) savings?
Yes, CBRE Group allows employees to take loans against their 401(k) savings, subject to specific terms and conditions outlined in the plan documents.
What investment options are available in CBRE Group's 401(k) plan?
CBRE Group offers a variety of investment options in its 401(k) plan, including mutual funds, target-date funds, and other investment vehicles.
Is there a minimum contribution requirement for the 401(k) plan at CBRE Group?
Yes, CBRE Group may have a minimum contribution requirement for employees wishing to participate in the 401(k) plan, which can be found in the plan documents.
How often can employees change their contribution amounts in CBRE Group's 401(k) plan?
Employees of CBRE Group can typically change their contribution amounts at any time, subject to the plan’s guidelines.
What happens to my 401(k) savings if I leave CBRE Group?
If you leave CBRE Group, you have several options for your 401(k) savings, including rolling it over to another retirement account, cashing it out, or leaving it in the CBRE Group plan if allowed.
Are there any fees associated with CBRE Group's 401(k) plan?
Yes, there may be administrative or investment fees associated with CBRE Group's 401(k) plan, which are disclosed in the plan documents.