ERISA, Other DOL Penalties Increased for 2018
Maximum penalties for violating many employment and benefits laws were increased as part of an inflation adjustment rule published January 2 (83 Fed. Reg. 7) by the U.S. Department of Labor (DOL).
Tag: benefits
An Introduction to Cafeteria Plans: Permitted Tax-Exempt and Taxable Benefits
By definition, cafeteria plans allow employees to choose between cash and a variety of employer-provided benefits without having to include the value of their chosen benefits as taxable income. Cafeteria plans are popular because they allow employees to design individualized benefits programs that suit their own special needs.
Cadillac Tax Pushed Back Again, This Time to 2022
Buried in the January 22 passage of legislation to re-open the federal government was a welcome bit of news for employers: The effective date of the wildly unpopular “Cadillac Tax” has been pushed back yet again. It is now set to take effect in 2022 rather than 2020 (the original implementation date was January 1, […]
Wage Growth Remains Stagnant
According to job site Glassdoor, the annual median base pay in the United States grew 1.1 percent year over year (YOY) in December 2017 to $51,210. Glassdoor Local Pay Reports show pay growth ticked up slightly from a revised 1.0 percent growth last month. Pay growth peaked in January 2017 at a revised 3.5 percent.
Employers Left in Wellness-Plan Limbo
In recent years, more and more employers have implemented wellness programs—employee participation programs that may include wellness education, health or fitness challenges, and even limited medical testing and preventive care requirements—to promote and encourage employee health and wellbeing. Through these programs, they hope to create a healthier workforce and reduce insurance costs.
What is Paid ‘Safe Time’?
Paid “safe time” refers to paid time off used specifically to deal with issues related to domestic abuse. While many employers offer some form of paid time off, not all employers have specific PTO days allotted to deal with domestic abuse. This can be a critical distinction, as it allows victims in these situations to […]
Benefits to Hiring Ex-Convicts
In yesterday’s Advisor, we outlined some of the perceived risks involved for employers who opt to hire ex-convicts. Today, we’re going to be taking a look at some of the potential benefits.
The Truth About Student Loan Assistance
It’s been heralded as the most attractive benefit – and the implication is that if your company were to offer it, you would have job seekers lining up at your door. But is student loan assistance a.k.a. student loan repayment really the next greatest thing?
DB Sponsors: Consider Accelerating Contributions For 2017 Plan Year Amid Tax Reform
DB plan sponsors should be aware that while the 2017 calendar year is behind us, they can still generally contribute for the 2017 plan year until September 15, 2108, assuming they operate on a calendar-year plan year.
2018 Withholding Tax Table Is Now Available
The Internal Revenue Service (IRS) has released Notice 1036, updating the income-tax withholding tables for 2018. The new tables reflect changes made by the tax reform legislation enacted last month. The updated withholding information shows the new rates for employers to use during 2018.