Your Payroll pros could be seeing some big legislative changes down the road to reduce the Social Security shortfall – especially since certain measures have significant bipartisan support. In fact, both Republicans and Democrats are mostly in favor of altering…
Benefits
The ongoing Great Resignation is proof that an update to your compensation strategy may be in order. In fact, a study by Mercer found a majority of employers (70%) are re-evaluating their compensation and benefits because of challenges with attracting…
Be aware: IRS is starting to send letters to companies asking them to self-examine their retirement plans before selecting them for an audit. The agency’s Employee Plans department recently announced a compliance pilot program beginning in June 2022. Plan sponsors…
Lately, senior management at businesses like yours has been feeling the need to get serious about diversity, equity and inclusion (DEI) and other socially responsible policies and practices. In a post on HRMorning.com, experts Stephanie Ashton and Monem Salam said…
Beginning with the 2022 benefit plan year, there are some changes your Benefits people need to be aware of for filing Form 5500, Annual Return/Report of Employee Benefit Plan, and Form 5500–SF, Short Form Annual Return/Report of Small Employee Benefit…
If your company has been thinking about creating a leave donation program to help the victims of Russia's invasion of Ukraine, the IRS has just approved it. In Notice 2022-28, the IRS issued guidelines for employers wishing to adopt a…
Just like many of your peers, Goldman Sachs felt like it had to do something big to retain top Finance talent. In its case, it was offering unlimited PTO for senior employees, and adding two days off each year for…
Your staff members who have caregiver obligations to a family member, or someone with a disability, technically aren’t a protected class under federal law. However, a technical assistance document issued by the U.S. Equal Employment Opportunity Commission (EEOC), “The COVID-19…
Surging inflation is impacting the benefits you may offer employees in 2023, including health savings accounts (HSAs). In Rev. Procedure 2022-24, IRS adjusted next year's thresholds for HSAs and high-deductible health plans (HDHPs). And because the updated amounts are so…
Fringe benefits can be tricky when tax time comes around. Keeping complete records helps you avoid legal hassles. Here's a recent case where an employer's excellent recordkeeping and reporting kept it out of trouble with the Service. After United Airlines…
Inflation hasn't been this high in decades, and you may be wondering how it'll affect company benefit costs. You're not alone. In a recent Mercer survey, most CFOs (68%) said controlling employee health benefit costs is a significant/very significant concern.…
There’s a factor you might not be considering that’s impacting more than 85% of your people’s productivity and hurting your bottom line right now. It’s employees’ worries about their own personal finances. Over half of employees surveyed by SoFi at…
