Proskauer's Employee Benefits & Executive Compensa

NOVEMBER 20, 2023

On November 9th, the IRS announced additional inflation adjustments for 2024, including to the annual contribution and carryover limits for healthcare flexible spending accounts and the monthly limit for qualified transportation fringe benefits. The new limits are set forth below.

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Transportation Flexible Spending Account Flexible Spending Retirement Plan 59

Patriot Software

JANUARY 30, 2023

If so, you most likely have given employees de minimis fringe benefits. But, what are de minimis fringe benefits exactly, and are they taxable? Dig into this type of fringe benefit […] Read More Have you ever had a workplace event, like a picnic or party?

Human Resources 52

Human Resources Payroll 52

Patriot Software

SEPTEMBER 29, 2022

For many employers, nothing’s more confusing than employee benefits and payroll taxes. Are there any fringe benefits that are exempt from all payroll taxes? Yes, there are, and the working condition fringe benefit (spoiler!) What is the working condition fringe benefit? is one of them.

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Taxes Payroll Employee Benefits Employment 52

Proskauer's Employee Benefits & Executive Compensa

OCTOBER 21, 2022

On October 18th, the IRS announced a slew of inflation adjustments for 2023, including to the annual contribution and carryover limits for healthcare flexible spending accounts and the monthly limit for qualified transportation fringe benefits. Qualified Transportation Fringe Benefits. . Health FSAs. . Carryover Limit.

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Transportation Flexible Spending Account Flexible Spending Health Savings Account 52

Patriot Software

NOVEMBER 11, 2020

As an employer, you probably offer your employees some types of fringe benefits. From health insurance to employee stock options to paid time off, there are a number of benefits out there. These benefits can impact your fringe benefit rate. So, what is a fringe benefit rate?

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Employee Stock Option Health Insurance Insurance Employment 52

Vantage Circle

DECEMBER 31, 2019

And one among those measures was providing employees with certain Fringe Benefits. What are these Fringe Benefits? Employee fringe benefits are the tangible or intangible perks that institutions provide their workforce in addition to their salaries. Employee Health Insurance Benefits.

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Life Insurance Employee Stock Option Retirement Plan Taxes 52

Benefit Resource Inc.

APRIL 30, 2019

If you’ve been in the benefits industry for any amount of time, you’ve probably come across the term “fringe benefits” However, what counts as a fringe benefit is sometimes unclear. Let’s take a look at what fringe benefits are and how they can help your company.

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Transportation Health Savings Account Taxes Education 40

Money Talk

AUGUST 18, 2022

During this “Great Resignation” era when many workers are changing jobs or considering a job change, it is more important than ever to consider various types of employee benefits and their economic value. Also known as “fringe” (short for fringe benefits) or “perks.” health insurance) ¨ improve employee morale (e.g.,

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Family and Medical Leave Act Employee Benefits Paid Vacation Paid Sick Leave 183

PeopleKeep

JULY 13, 2022

When deciding which additional employee benefits to offer, there’s no shortage of perks or fringe benefits that can help supplement your benefits package. If your staff must commute to work, offering a commuter benefit can be an excellent incentive for attracting and retaining your employees.

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Workplace Insight

MARCH 28, 2023

The 2023 business rates revaluation will come into effect on the 1st of April 2023, the first of its kind for six years and according to business rates experts at Colliers could have a material impact on the provision of affordable workspace in the capital, historically located in the “fringe” locations.

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Business Management Daily

NOVEMBER 2, 2018

The post IRS announces 2019 401(k) contribution limits, other fringe benefit limitations appeared first on Business Management Daily. The amount employees can contribution into their 401(k) or 403(b) plan accounts increases by $500, to $19,000 for 2019, the IRS announced.

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AssuredPartners

FEBRUARY 17, 2022

Annually, in the early summer , The Department of Labor (DOL) issues a new memorandum modifying the fringe benefit rate on contracts covered by the McNamara-O’Hara Service Contract Act (SCA). All eyes are on the fringe! In essence, there are two fringe rates. per hour and $4.23 per hour, respectively.

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Health and Welfare Paid Sick Leave Out of Pocket Cost Government 97

AssuredPartners

JULY 5, 2022

The new fringe rate is in effect for a particular contract only after the contracting officer incorporates the new fringe rate into that specific contract. The new fringe rates are: $4.80 The less than five percent increase in the fringe rate for 2022 is in line with recent increases.

Health and Welfare 98

Health and Welfare Government Healthcare Insurance 98

AssuredPartners

JUNE 6, 2022

Service Contract Act (SCA) regulations were introduced in 1965 to reflect wages and benefit costs for services in a geographic area. The health and welfare “fringe rates” are reviewed by the Department of Labor each summer. Between 2018-2021 fringe rates have not increased at the same rate as medical inflation.

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PeopleKeep

AUGUST 3, 2022

As an employer, you know that benefits and compensation can come in various forms—and in today’s tight labor market, offering a variety of different benefits is essential to recruiting and retaining employees. Learn more about the advantages of fringe benefits in our complete guide.

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Taxes Recruitment Employment 97

AssuredPartners

JUNE 29, 2023

The Service Contract Act (SCA) sets minimum wages, fringe dollars, vacation, holidays, and sick leave for employees performing work on federal service contracts in the domestic United States and its territories. The SCA fringe amount may be paid in the form of additional cash or as bona fide fringe benefits.

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PayrollOrg

JANUARY 25, 2022

In this December 2021 issue of Compliance TV: President signs infrastructure bill that ends ERC early; Reminder that payment of deferred social security tax from 2020 Is due soon; IRS announces 2022 retirement plan contribution and benefit limits; and IRS announces 2022 COLAs for transportation fringes, FSA deferrals, foreign earned income exclusion, (..)

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Retirement Plan Transportation Taxes 149

PeopleKeep

AUGUST 10, 2022

While it’s tempting for small and midsize employers to cut corners on their employee benefits to save on costs, a quality and personalized benefits package is necessary to set your organization apart from others. See what fringe benefits you can offer in your benefits package for open enrollment in our complete guide.

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HR Lineup

MAY 11, 2023

Fringe is a platform that provides a wide range of employee benefits for companies of all sizes. Fringe offers a variety of benefits that cater to the diverse needs of today’s workforce. Fringe offers a variety of benefits that cater to the diverse needs of today’s workforce.

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PeopleKeep

JUNE 1, 2022

As an employer, it’s crucial to provide benefits to your employees and show your appreciation for their hard work. This article will explain employee fringe benefits, whether gift cards are taxable for employees, and what alternatives are available.

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PeopleKeep

JUNE 17, 2022

Many employers find it challenging to provide a budget-friendly and attractive benefits package. Although benefits costs are impacted by factors like healthcare costs, which are continually rising , a section 125 plan, or cafeteria plan, allows you to boost your employee benefits while staying in-budget with its significant tax savings.

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Take Home Pay Benefits Package Healthcare Taxes 97

Employee Benefits

MARCH 10, 2023

A great way to improve retention rates is through offering great employee benefits. Benefits, including fringe benefits and flexible benefits, provide an employee an extra reason to stay within a company. What are fringe benefits? What are flexible benefits? Why are employee benefits important?

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Employee Benefits Health and Welfare Health Insurance Work From Home 104

AssuredPartners

MAY 23, 2023

The SCA requires that hourly service employees charging work hours directly to a domestic federal contract must be paid wages and provided with bona fide fringe benefits or the fringe rate equivalent paid out in cash. Construction contracts with the federal government are governed by the Davis-Bacon Act (DBA.)

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Government Construction Employment IT 52

AssuredPartners

JULY 30, 2023

This year, the DOL issued Memo Number 243 announcing the new fringe rate for SCA-covered contracts effective June 27, 2023, applicable on the next anniversary date of multi-year current SCA-covered contracts or at the beginning of the covered contract option period, as well as appropriate new SCA covered contracts: $ 4.98

Health and Welfare 52

Health and Welfare Healthcare Government 52

The Workcomp Writer

JUNE 3, 2022

Quoting Larson’s Workers’ Compensation Law , an Ohio appellate court affirmed a decision by the state’s Industrial Commission that had refused to consider various fringe benefits in the form of health and welfare benefits, as well as the employer’s contribution to several pension funds as “wages” or “earnings” under Ohio Rev.

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PeopleKeep

DECEMBER 13, 2022

If your organization is offering employee benefits , it’s essential that you use a benefits administration tool that helps you stay on top of compliance obligations. Choosing the right benefits plan administrator for your organization’s needs is essential for a good employee experience. Want to offer perks your employees love?

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BerniePortal

APRIL 19, 2022

During the enrollment process , employers often offer ancillary benefits like voluntary life insurance to supplement basic life coverage. But unlike healthcare and other fringe benefits , not all employees need to elect all ancillary benefits. So, what is voluntary life insurance?

Life Insurance 98

Life Insurance Insurance Healthcare Employment 98

BerniePortal

APRIL 29, 2022

During open enrollment , employers often offer fringe benefits like FSAs and HSAs, which can help employees save significantly on qualified medical expenses not covered by their health insurance. So, here’s what you need to know about FSAs, including how they differ from HSAs.

Health Insurance 98

Health Insurance Medical Insurance Employment 98

PeopleKeep

JUNE 22, 2022

When it comes to recruiting and retaining your employees, you need a competitive employee benefits package. It’s essential to select the right benefits for your employees. Some benefits are more appealing than others, while others help you address the growing needs of your employees without adding unnecessary complexity.

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Employee Benefits Benefits Package Recruitment Software 98

Stratus.HR

DECEMBER 22, 2021

Bottom line: no matter the amount, a gift card given to employees is not considered a de minimis fringe benefit. Is a cell phone considered a tax-free de minimis fringe benefit? For more information about de minimis fringe benefits, please visit the IRS site. Top 5 Things to Know about the New W-4.

Taxes 59

Taxes Entertainment Overtime Payroll 59

PeopleKeep

NOVEMBER 9, 2022

This blog will give you an overview of EWA, its pros and cons, and other personalized benefits you can offer to increase employee retention. Learn what other fringe benefits you can offer at your company in our guide. Before setting up EWA at your organization, you need to determine if it’s right for you and your employees.

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Employee Retention Employment IT Employee Benefits 97

PeopleKeep

DECEMBER 14, 2022

See how you can use fringe benefits to combat employee burnout in our guide. This article will dive into the causes and signs of employee burnout, including the steps needed to create a positive work environment where employees can feel safe from toxic levels of stress.

IT 93

IT Employee Benefits Recruitment 93

PeopleKeep

JUNE 22, 2022

Offering employee benefits is an effective way to attract talent and improve employee retention in your company. However, employers at small and medium-sized organizations may be hesitant to implement benefits due to the cost and administrative burden. We also share how PeopleKeep can help you offer personalized employee benefits.

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Employee Benefits Employee Retention Software Employment 95

PeopleKeep

NOVEMBER 16, 2022

Our guide to fringe benefits can help boost your compensation package. Employee turnover is never easy, but a successful offboarding program can help you run a smooth transition, boost your company’s brand, and supply you with valuable employee feedback.In Want to retain your employees better?

Employee Benefits 95

Employee Benefits Recruitment 95

PeopleKeep

DECEMBER 7, 2022

Find out how fringe benefits can drive employee engagement in our complete guide. In this blog, we’ll go over the employee life cycle, including its stages, why it’s important, and tips and tricks to help you better optimize your business.

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Employment Management Employee Benefits IT 98

PeopleKeep

JULY 27, 2022

To help you avoid these missteps, we’ll go over exempt and non-exempt employee classifications and also cover how you can offer health benefits to both groups. Check out our fringe benefits guide to see how you can support your exempt and non-exempt employees.

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CorpStrat

JANUARY 17, 2023

Many employee benefits are subject to annual dollar limits that are adjusted for inflation by the IRS each year. The following commonly offered Employee Benefits are subject to these limits: High deductible health plans (HDHPs) and health savings accounts (HSAs). Transportation fringe benefit plans. 401(k) plans.

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