HR Digest

SEPTEMBER 18, 2023

Signed into law in 2022 by New York Governor Kathy Hochul, New York’s pay transparency law in 2023 is all set to go. Effective from 17 September this year, the pay transparency law will now enforce regulations that ensure employers who want to advertise a job posting are clear about what salaries applicants could expect for the position.

Salary 86

Salary Commissions Retirement Plan Overtime 86

Money Talk

DECEMBER 7, 2022

Some people arrange automatic monthly payments through their retirement plan custodian to simulate a “paycheck” while others take their RMD quarterly or in one lump sum. New RMD Table- A new Uniform Lifetime Table took effect for RMDs beginning in 2022.

401(k) 186

401(k) Taxes Entertainment Retirement Plan 186

HR Professionals Magazine

JULY 26, 2022

workers currently don’t have access to a retirement plan sponsored by their employer. To bridge this gap, a majority of states have contemplated state-mandated retirement savings plan legislation, and 13 have already signed such programs into law. Key retirement plan differentiators at a glance.

Retirement Plan 52

Retirement Plan 401(k) Employment Deductible 52

Money Talk

NOVEMBER 10, 2022

Roth IRAs are a popular investment for retirement savings. salary, bonuses, or self-employment) under phaseout limits that are adjusted annually for inflation. A Roth IRA is a personal retirement account that lets people benefit from tax-free interest growth, providing they meet certain conditions.

Taxes 188

Taxes Banking Finance Bonuses 188

InterWest Insurance Services

NOVEMBER 25, 2022

The changes, which the IRS releases in November each year, will affect contribution limits for HSAs, FSAs and 401(k) and other retirement accounts. The maximum contribution levels are readjusted every year to account for inflation, along with maximum retirement plan contribution limits. Retirement plan maximums.

401(k) 98

401(k) Deductible Deductions Flexible Spending Account 98

Health Consultants Group

OCTOBER 1, 2021

Employees still want traditional options such as retirement plans, educational assistance, and health insurance. However, by implementing a Cafeteria Plan, you can also allow employees to select the additional benefits they prefer. . Flexible Spending Accounts: funded by salary reduction. Flexible work options.

Employee Benefits 86

Employee Benefits Family and Medical Leave Act Flexible Spending Account Health Savings Account 86

Empuls

DECEMBER 12, 2021

But for a more plausible forecast, let’s look at the workforce trend predictions that shall roll into 2022. Presenting the workforce trends 2022! Workforce Trend Predictions for 2022 1. According to an SHRM study , Gen-Zers will hold up to 36% of the share in the workforce by the end of 2022.

Software 52

Software Retirement Plan Salary Life Insurance 52

Griffin Benefits

JUNE 29, 2023

contains dozens of changes to retirement plans, but perhaps none bigger than these two: New 401(k) and 403(b) plans will be required to automatically enroll participants in the respective plans, and employee salary deferral rates will automatically escalate each year. The SECURE Act 2.0 THE SECURE ACT 2.0

401(k) 52

401(k) Retirement Plan Salary Take Home Pay 52

Business Management Daily

APRIL 25, 2023

That trend continued into 2022, and there were more than a few reasons why so many employees were throwing in the towel, including the following: The pandemic caused some to reevaluate their life priorities — leading to them reducing their working hours or quitting entirely. While you’re legally required to provide the bare minimum (i.e.,

Salary 105

Salary Benefits Package Recruitment PTO 105

HR Digest

NOVEMBER 20, 2023

Competitive salaries are a no-brainer when it comes to establishing a strategy on how to recruit top talent. But for companies that do not have the current funds to support competitive salaries, there can be many other ways to support their employees. Something is clearly amiss here when the priorities do not match up to capabilities.

Recruitment 110

Recruitment IT 401(k) Health and Welfare 110

CorpStrat

NOVEMBER 30, 2022

Maximums for retirement plans. Get retirement plan discussions out of the way early. Many of them may want to take salaries in order to max out retirement plans opportunities. Group term insurance in excess of 50,000. consider any other taxable fringe benefits. Don’t forget partner and owners.

Payroll 52

Payroll Retirement Plan PTO Transportation 52

Benefits Notes

DECEMBER 28, 2022

Congress made several changes to retirement plans as part of the Consolidated Appropriations Act of 2023 , which recently passed both the House and Senate. The final bill contains several provisions affecting retirement plans under Division T of the bill titled “Secure 2.0 Act of 2022.”

401(k) 52

401(k) Retirement Plan Taxes Salary 52

Business Management Daily

APRIL 1, 2022

all-new 401(k) plans would be required to auto-enroll employees; employees would need to opt-out to get their full salary. raised the age at which employees must begin taking required minimum distributions to the later of when they turn 72 or April 1 following the year they retire. Student loans and 401(k) plans.

401(k) 59

401(k) Deductible Deductions Taxes 59

Higginbotham

NOVEMBER 15, 2023

IRS Announces 2024 FSA, Retirement Plan Limits Earlier this month, the Internal Revenue Service (IRS) released cost-of-living adjustments and inflation-adjusted limits for 2024 that affect amounts employees can contribute to health flexible spending accounts (FSAs), 401(k) plans and individual retirement accounts (IRAs).

401(k) 52

401(k) Retirement Plan Flexible Spending Account Insurance 52

Vantage Circle

MAY 18, 2023

Employees now want more than just salaries from their employers. Retirement Plans: Retirement savings are viewed as the most essential benefit by 77% of working Americans. Retirement schemes aim to facilitate the process of employees accumulating funds for their future years after they exit from active work.

Family and Medical Leave Act 106

Family and Medical Leave Act Life Insurance Health Insurance Retirement Plan 106

Higginbotham

JULY 7, 2022

DOL Announces Plans to Issue Proposed Overtime and Independent Contractor Rules. Department of Labor (DOL) announced its plans to issue a proposed overtime rule in October 2022. In recent years, some experts note that the agency has contemplated modifying the duties test and salary thresholds for exempt employees.

Overtime 52

Overtime Retirement Plan Health Insurance Insurance 52

HR Digest

FEBRUARY 10, 2023

But the more you know about the types of employee benefits offered by your employer, the better equipped you’ll be to make informed decisions about health care, retirement plans, and other important financial matters. Workers can receive income from these investments once they retire. What do employee benefits cost?

Employee Benefits 52

Employee Benefits Paid Sick Leave Disability Insurance Life Insurance 52

Employee Benefits

FEBRUARY 8, 2022

Pensions are still ticking the long-term box for many employers, so now the focus is switching to areas like education and salary-deducted savings – bridging short with long-term financial wellbeing, for example, by making it simple for employees to build up savings pots. And financial education underpins everything.

Salary 52

Salary Finance Education Retirement Plan 52

Insperity

APRIL 14, 2022

Bureau of Labor Statistics (BLS) Job Openings and Labor Turnover (JOLT) report from March 2022 , there are more than 11 million job openings in the U.S., Some employees are leaving jobs to: Obtain improved titles, higher salaries and better benefits. Retirement plan. According to the U.S. Dental insurance. Life insurance.

Health 82

Health Benefits Package PTO Media 82

Insperity

MARCH 12, 2024

Retirement plans Employees want to be able to save for retirement and plan for their futures. In a 401(k) plan, the most common type of retirement plan, employees can save up to a certain amount set by the U.S. Internal Revenue Service (IRS) each year. Benefits are, essentially, a “hidden paycheck.”

Family and Medical Leave Act 59

Family and Medical Leave Act Employee Benefits PTO 401(k) 59

Best Money Moves

AUGUST 23, 2023

This is an ability that can be honed for minimum-wage and high-salaried employees alike. According to the 2022 PWC Employee Financial Wellness Survey, employees who are undergoing financial stress are twice as likely to seek new employment. An additional benefit to a financially resilient workforce is a reduced turnover rate.

Finance 52

Finance Retirement Plan Salary Education 52

Vantage Circle

NOVEMBER 23, 2023

These incentives span a wide array, from health benefits and retirement plans to flexible work arrangements, financial bonuses, and professional development opportunities. In 2022, private health insurance coverage remained more prevalent than public coverage, at 65.6 Regarding retirement savings, GM provides salaried U.S.

Family and Medical Leave Act 65

Family and Medical Leave Act 401(k) Retirement Plan roth 401(k) 65

Best Money Moves

NOVEMBER 14, 2023

Whether your employees are hourly, salaried or gig workers, flex time can help accommodate everyone’s needs and save your team from major headaches. In fact, the Money and Holiday Mental Health survey from 2022 found that as consumer prices have continued to increase, 55% of millennials felt more stressed about the holiday season.

Utilities 59

Utilities Retirement Plan Employee Retention Salary 59

Business Management Daily

JANUARY 5, 2023

Act of 2022 —90+ provisions focused on 401(k) and other retirement plans. Congress has chosen to pay for it by mandating that plans offering certain 401(k) features, like catch-up contributions, be made on an after-tax, Roth basis. Auto-enrollment plans have been around for quite some time; SECURE 1.0 SECURE 2.0

401(k) 52

401(k) roth 401(k) Taxes Deductible 52

Employee Benefits

DECEMBER 20, 2023

The current economic environment is causing disruption to the retirement plans of many. It is important that those retiring in 2024 understand their options, make informed decisions, and avoid making mistakes with their hard-earned savings. In 2022 Which? [5]

Pension 52

Pension Taxes Retirement Plan Education 52

Higginbotham

NOVEMBER 2, 2023

Developing an Employee Financial Wellness Program Employees typically look for competitive compensation, but a good salary alone isn’t necessarily enough to ease financial difficulties. In 2022, only 42 percent of the higher earners lived paycheck to paycheck, suggesting that American households are increasingly worse off financially.

401(k) 52

401(k) Disability Insurance Benefits Package Insurance 52

Higginbotham

JULY 20, 2023

Employers Need Skilled Workers If someone talked about being a prompt engineer back in early 2022, you might have had no idea what this job entailed. According to SHRM, the average cost per hire is about $4,700, but the total costs can be much greater – up to three to four times the worker’s annual salary.

Engineering 52

Engineering Retirement Plan Health Insurance Human Resources 52

Employee Benefits

DECEMBER 11, 2023

Individuals should speak to their pension provider to find out what investment path they are on, and if it is aligned with their retirement income plan. billion in 2022 [3]. In a 2022 investigation, Which? [4] Missing out on lost or forgotten pensions The total value of lost pension pots has grown from £19.4

Pension 52

Pension Taxes Banking Retirement Plan 52

Higginbotham

OCTOBER 27, 2023

For example, in 2000, Coca-Cola faced allegations from a group of black salaried employees who claimed the company discriminated against them in matters of pay, promotions and performance evaluations. million toward salary adjustments and $36 million to improve company practices. Coca-Cola contested these claims. The largest was a $21.2

Family and Medical Leave Act 52

Family and Medical Leave Act Human Resources Government Medical 52

Proskauer's Employee Benefits & Executive Compensa

NOVEMBER 2, 2022

Twelve years after the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and many years after the Securities and Exchange Commission started considering regulations implementing the clawback provisions of Dodd-Frank, the SEC published the Final “Clawback” Rules (the “Final Rules”) on October 26, 2022.

Executive Compensation 52

Executive Compensation Incentive Compensation Retirement Plan Taxes 52

Hppy

OCTOBER 24, 2023

According to a 2022 survey by the Society for Human Resource Management, only 21% of employers currently offer non-retirement financial benefits. However, companies are increasingly recognizing the importance of addressing their employees’ financial well-being beyond retirement planning.

401(k) 36

401(k) Human Resources Financial Counseling Education 36

HR Professionals Magazine

JANUARY 31, 2022

Employer-sponsored retirement plans are divided into two major categories: defined-benefit plans and defined- contribution plans. As the names imply, a defined-benefit plan—also commonly known as a pension plan—promises a specified benefit amount at retirement. By Eddie Vaughn.

401(k) 40

401(k) Pension Profit Sharing Plan Pension Benefit 40

Empuls

DECEMBER 17, 2024

Understanding cool benefits for employees The term "cool benefits for employees" encompasses unique perks and incentives that elevate the workplace experience beyond traditional salary and health insurance packages. Retirement Plans: 401(k) plans with employer-matching contributions.

Parental Leave 40

Parental Leave Family and Medical Leave Act Health and Welfare PTO 40