It’s important for your Finance team to know all the regs when it comes to pay deductions and 401(k) plans, especially when employees are repaying loans they’ve received from the company plan. One employer wasn’t diligent with following the rules…
Benefits
The Department of Labor (DOL) just issued several COBRA notices you may need to give employees under the American Rescue Plan Act (ARPA). The ARPA created COBRA premium assistance to help certain individuals continue their health benefits. The premium assistance…
If employees roll over money for dependent care expenses, Payroll won’t have to withhold taxes on it. That comes straight from the source in IRS Notice 2021-26. Dependent care benefits that would’ve been excluded from income if used during taxable…
Employers looking to get a jumpstart on 2022 will want to take a look at the 2022 HSA limits just released by IRS. IRS Revenue Procedure 2021-25 sets the limits for high deductible health plans (HDHPs) and health savings accounts…
Unfortunately, many employees experience financial stress. So, more employers are stepping up to help by offering their workers emergency savings accounts funded by payroll deductions. As the COVID-19 pandemic continues, workers have had trouble saving money for a rainy day.…
You and your Finance team may want to give your bonus and severance programs a second look. It’s important to make sure they’re aligned with federal standards, if possible. Otherwise, you may have to deal with tricky state wage laws…
Between state and local mandates, and the coronavirus pandemic, more employers must provide workers with paid sick and family leave. These initiatives are meant to be beneficial – but they’re full of red tape and confusion. That’s according to the…
Employers with 2021 dependent care flexible spending accounts have several changes to contend with. The American Rescue Plan Act just raised the annual limits for pretax contributions for 2021. (Note: This applies to the calendar year.) The 2021 dependent care…
Your company's retirement plan poses serious cybersecurity risks. So says the Government Accountability Office (GAO). It just released a new report on defined contribution plans. First, think of all the sensitive info needed for a 401(k). Then that data travels…
IRS Notice 2021-15 spells out new extensions for flexible spending accounts (FSA) and dependent care assistance programs. So your company can continue to be a bit more flexible with its cafeteria plan. And it comes courtesy of the Taxpayer Certainty…
Now your company will need to accept telemedicine visits as certification for employees' Family and Medical Leave Act (FMLA) requests. A new Wage and Hour Division Field Assistance Bulletin clarifies that a virtual doctor's visit counts as an “in-person” doctor’s…
Your employees will soon be equipped with an online health shopping tool to make smarter, more informed healthcare choices … and save your company money as a result. Starting Jan. 11, 2022, health insurers must provide a publicly available, updated…
