Remove 2022 Remove Deductible Remove Disability Insurance Remove Retirement Plan
article thumbnail

New Laws for 2023 part II

InterWest Insurance Services

Currently only companies with five or more employees who do not offer a retirement plan are required to enroll their workers in CalSavers. Also, since July 2022, the CalSaver’s law has applied to employers with five or more workers. Employees can choose other deduction rates as well. 10) PFL wage replacement.

401(k) 86
article thumbnail

Navigating employee benefits: A comprehensive guide for growing businesses

Insperity

Other types of insurance If an employee loses their ability to earn an income on a temporary or permanent basis, certain types of insurance can help protect their families and livelihoods. Disability insurance , provides employees with replacement income and pays for medical bills if they become disabled and are no longer able to work.

article thumbnail

Leveraging employee financial wellness programs in your benefits strategy

Higginbotham

In 2022, only 42 percent of the higher earners lived paycheck to paycheck, suggesting that American households are increasingly worse off financially. Offering retirement benefits also makes financial sense because they often come with tax incentives. Defined benefit plans promise a specified monthly benefit at retirement.

401(k) 52