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Does your company use a PTO policy or a vacation policy? In California, it matters more than it might seem because of the way the law treats vacation days as accrued wages. So be careful if you’re switching to a PTO policy—be sure you understand how the law will treat the accrued days. The difference […]
Is your company considering reclassifying certain workers from now on, but hesitant because it is worried about triggering a federal employment tax audit or having not consistently filed Forms 1099 for those workers in the past? If you answered “yes,” then the IRS’ Temporary Expanded Voluntary Classification Settlement Program may interest you, but you must […]
The Pension Benefit Guaranty Corp., in a policy reversal, has agreed to exempt most companies and their pension plans from sweeping “reportable events” requirements first proposed in 2009. This news should be a relief for the many small or financially sound companies with defined benefit plans that had expressed concern about reporting relatively minor business […]
Although many 401(k) plans offer participants loans, a statistic that plan sponsors don’t want to see is the number and size of those loans increasing. But some of them are seeing just that, according to Wells Fargo. A recent study by the banking company of fourth-quarter 2012 activity at the defined contribution plans it administers […]
Being deaf in one ear is not a disability, the U.S. District Court for the Eastern District Court of Pennsylvania ruled in Mengel v. Reading Eagle Co. (No. 11–6151, 2013 WL 1285477 (E.D. Pa. March 29, 2014)). While findings of “no disability” were common before the Americans with Disabilities Act was amended, they have been […]
Maryland is expected to soon become the 19th state to legalize medical marijuana. Maryland Gov. Martin O’Malley (D) told the Associated Press that he “probably” would sign the measure passed by the Maryland Legislature earlier this month. The bill would allow academic medical research centers to prescribe marijuana to critically sick patients under limited circumstances. […]
Most of the money contributed to traditional individual retirement accounts comes from rollovers, but the choices involved in moving 401(k) savings to an IRA or from one employer-sponsored plan to another should be made easier and more efficient. That’s the finding of the U.S. Government Accountability Office in its latest report, “401(K) Plans: Labor and […]
Often, employees who believe they were fired because of their disability will show that they were replaced by an individual without a disability as evidence of discrimination. In one recent case, however, a district court has allowed a case in which a deaf teaching assistant — who was replaced by another deaf individual — to […]
Employers could use auto-escalation as a way to encourage 401(k) participants to increase their contributions and reduce the number of employees missing out on matching contributions from the plan sponsor. That’s the finding by WorldatWork and the American Benefits Institute, which said that nearly a third of U.S. retirement plan sponsors they surveyed think more […]