Benefits Notes

AUGUST 29, 2023

As signed into law, Section 603 of the SECURE 2.0 As signed into law, Section 603 of the SECURE 2.0 This requirement of SECURE 2.0 has raised a number of legal and plan administration concerns among plan sponsors and retirement plan service providers.

401(k) 52

401(k) Retirement Plan Executive Compensation Taxes 52

Proskauer's Employee Benefits & Executive Compensa

JANUARY 30, 2023

As part of our continuing series on SECURE 2.0 , signed into law December 29, 2022, this post focuses on significant changes for section 403(b) tax-sheltered annuity plans (“403(b) plans”). As discussed in more detail below, SECURE 2.0 Before SECURE 2.0,

401(k) 111

401(k) Taxes Retirement Plan Commissions 111

Higginbotham

NOVEMBER 2, 2023

Retirement Savings Programs According to Bankrate, 56 percent of U.S. workers say they are behind on retirement savings and 37 percent say they are significantly behind. Retirement savings programs are a staple of employee benefits – many employees and job seekers want robust offerings to help them catch up.

401(k) 52

401(k) Disability Insurance Benefits Package Insurance 52

Benefits Notes

NOVEMBER 5, 2021

On November 4, 2021, the Internal Revenue Service (IRS) released Notice 2021-61 , which sets forth the 2022 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The following chart summarizes the 2022 limits for benefit plans. Social Security Taxable Wage Base.

401(k) 40

401(k) Health Savings Account Retirement Plan Deductions 40

Proskauer's Employee Benefits & Executive Compensa

MARCH 31, 2023

The guidance, which was issued in the form of FAQs, can be downloaded here. Over three years ago , the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security (CARES) Act imposed a number of COVID-19-related coverage mandates on group health plans. How did we get here?

Deductions 52

Deductions Deductible Health Savings Account Medical 52

Business Management Daily

SEPTEMBER 15, 2021

In fact, studies show that 55 percent of full-time employees say that health insurance is the most important benefit they receive and that a quality health insurance plan is a key to job satisfaction. According to the Affordable Care Act (ACA), U.S. Anybody who has ever looked at healthcare plans knows they vary considerably.

Benefits Package 52

Benefits Package Family and Medical Leave Act Health Insurance PTO 52

Benefits Notes

MAY 28, 2021

On May 18, 2021, the Internal Revenue Service (IRS) released much-anticipated guidance on premium subsidies for continuation coverage under Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) provided by the American Rescue Plan Act of 2021 (ARPA). Employee retires. (Q&A-26)

Family and Medical Leave Act 40

Family and Medical Leave Act Health Construction Taxes 40

AssuredPartners

APRIL 30, 2020

These extensions provide participants and beneficiaries of employee benefit plans additional time to make important health coverage and other decisions affecting their benefits during the coronavirus outbreak. The 60th day being considered the end of the "Outbreak Period" as the notices refer to it.

Employee Benefits 52

Employee Benefits Electronics Pension Insurance 52

AssuredPartners

MARCH 1, 2021

The Disaster Relief Notice 2021-01 has finally been unveiled by the Employee Benefits Security Administration (EBSA) branch of the U.S. Department of Labor (DOL), with additional coordination and review of the guidance by the Department of Treasury, the Department of Health and Human Services (HHS), and the Internal Revenue Service (IRS).

Employee Benefits 40

Employee Benefits 40

HR Bartender

AUGUST 28, 2018

Under the federal Fair Labor Standards Act (FLSA) , an employee’s wages are due on the regular payday for the applicable pay period—so that rule sets the floor for all wages owed to an employee whether we’re talking about the final paycheck or not. If an HR professional has a question about paychecks, where can they go to get guidance?

Deductions 70

Deductions Deductible Net Pay Bonuses 70

Insperity

NOVEMBER 25, 2013

Mom-and-pop companies can miss these changes without subscribing to something like Bloomberg BNA or checking the IRS and state websites, all while running the rest of the business. With an automated tax update service, a business owner can reach out to multiple tax bureaus for guidance on changes in tax law. 31 of the following year.

Payroll 40

Payroll Taxes Government Online Payroll 40

Proskauer's Employee Benefits & Executive Compensa

SEPTEMBER 29, 2022

On September 26, 2022, the IRS released IRS Notice 2022-45 , which corrected a potential oversight in IRS Notice 2022-33, discussed in detail here. The notice explains that the purpose of this clarification was to ensure that all amendments required by the SECURE, CARES, and Relief Acts can be adopted in a single amendment.

Taxes 114

Taxes Retirement Plan IT 114