Employers that offer a 401(k) plan should generally encourage participants to invest as much as they can and not touch the money until retirement. However, there may be instances when employees feel they need to access their plan funds before … [Read more...]
Comply carefully with COBRA notice of termination rules
Consider the following scenario: To streamline administration of continuing health care coverage under the Consolidated Omnibus Budget Reconciliation Act (COBRA), an employer decides to neither send bills for COBRA premiums nor provide reminders when … [Read more...]
ACA penalties will rise in 2024
Recently, the IRS announced 2024 indexing adjustments to the applicable dollar amount used to calculate employer shared responsibility penalties under the Affordable Care Act (ACA).Although next year might seem a long way off, it’s best to get an … [Read more...]
2023 – 03/02 – Spotlight on executive compensation
Small employers: Don’t forget about the new and improved pension credit
At the very end of 2022, President Biden signed into law the Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0). Now that the year is well underway, small employers would be well-advised not to forget about a key feature of … [Read more...]
Supreme Court: Overtime rules still apply to highly compensated employees
If you were told someone earns more than $200,000 annually, you might assume the person is a salaried employee who’s ineligible for overtime pay. However, as demonstrated in the recent U.S. Supreme Court case of Helix Energy Solutions Group, Inc. v. … [Read more...]