Money Talk

JULY 13, 2023

Below is a brief summary of a few key retirement savings provisions from about 100 changes contained in this legislation: RMD Changes- Effective January 1, 2023, the starting age for required minimum distributions (RMDs) for people born from 1951 to 1959 is now 73 instead of 72 and the starting age for those born in 1960 or later is now 75.

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Employee Benefits

FEBRUARY 21, 2024

for 2023, down 2.3 in 2023, down 1.2 The organisation’s 2023 mean ethnicity bonus gap for Asian employees was -3.7%, down 1.2 In 2023, we improved our global inclusion index to 83%, up from 82% in 2022, and continued engagement with colleagues through our employee resource groups, webcasts, workshops and events.

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Money Talk

JUNE 28, 2023

It’s halftime for your 2023 finances and a perfect time to review where you stand, make mid-year adjustments, and complete recommended financial planning action steps. This information can help inform decisions about how much more to save up to the 2023 limits of $3,850 (self-only) and $7,750 (family coverage).

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Employee Benefits

MARCH 19, 2024

Poor mental health in the workplace cost the UK economy £102 billion in 2023, according to research by Axa UK. The post Poor mental health in the workplace cost UK economy £102 billion in 2023 appeared first on Employee Benefits. billion from workers being less productive due to work-related mental health conditions.

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Employee Benefits

MARCH 12, 2024

mean gender pay gap for 2023, down from 8.6% Its 2023 lower pay quartile comprised 68.5% Its 2023 lower pay quartile comprised 68.5% The organisation’s 2023 mean gender bonus gap was 9.5% Meanwhile, BAE Systems’ mean ethnicity pay gap for 2023 was 3.9%, and its median ethnicity pay gap was 5.8%. the previous year.

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Money Talk

MAY 4, 2023

had an ascending 5% inflation rate (CPI) in May 2021 and a descending 5% CPI in March 2023 and many higher inflation rates in between. Interest Rates- Between March 2022 and May 2023, the Federal Reserve raised interest rates 10 times in an effort to decrease inflation by slowly increasing the cost of borrowing. in March 2023.

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Employee Benefits

FEBRUARY 16, 2024

Biopharmaceutical firms AstraZeneca and Novo Nordisk have been named among the best places to work for women in 2023 globally. The post AstraZeneca and Novo Nordisk named best places to work for women in 2023 appeared first on Employee Benefits.

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Achievers

OCTOBER 11, 2023

Cultivating a culture of recognition is a strategic imperative that can transform the tenor of your organization, driving improved employee morale, engagement, and performance. Showing genuine appreciation for team members’ efforts foster a long-lasting sense of belonging and motivation among employees.

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PayrollOrg

JULY 2, 2024

The failure to file deadline for employers to submit 2023 EEO-1 Component 1 data to the U.S. Equal Employment Opportunity Commission is July 9.

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Achievers

JUNE 19, 2023

Every organization wants to get the most out of its employees. But viewing employee productivity as a simple equation of how many tasks are performed over X hours or days won’t get you very far.

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McDermott Will & Emery Employee Benefits

APRIL 18, 2024

UnitedHealth Group for the 2023 MHPAEA Proposed Rule appeared first on EMPLOYEE BENEFITS BLOG. Like other similar cases, the case invites questions about the impact of potential changes under the proposed […] The post Lessons from Ryan S.

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Money Talk

JANUARY 18, 2023

for couples filing jointly, the standard deduction is $27,700 in 2023 vs. $25,900 in 2022). million per individual in 2023 vs. $12.06 In January 2023, many online bank accounts are paying 3.30%+. Standard Deduction - The amount of income taxpayers can shelter from income taxes rises with inflation (e.g., million in 2022).

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PayrollOrg

OCTOBER 12, 2023

On October 12, the Social Security Administration announced that the 2024 social security wage base will be $168,600, which is an increase of $8,400 from $160,200 in 2023.

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Money Talk

MAY 18, 2022

Normal” tax rules apply in 2022, however, which may require a withholding change for many families to avoid getting a smaller refund, or owing tax, in 2023. The deadline for making 2022 SEP contributions is the tax filing deadline in April 2023. To do this, file a new W-4 form or make larger estimated payments.

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Proskauer's Employee Benefits & Executive Compensa

OCTOBER 27, 2023

Although the Final Rules generally became effective on January 30, 2023, certain special proxy voting-related rules are set to first take effect on December 1, 2023, and may require action by ERISA plan fiduciaries in advance of the effective date. For a detailed discussion of the Final Rules, see here.

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PayrollOrg

APRIL 4, 2024

In this April 2024 edition of Compliance TV: IRS announces 2024 foreign high-cost locations; IRS grants waivers for 2023 foreign exclusion requirement; and more.

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Money Talk

MARCH 22, 2023

With 2022 income tax season well underway and almost three months already passed in 2023, now is an appropriate time to review some evergreen tax planning tools and techniques. For example, for married couples, the standard deduction is $27,700 in 2023 vs. $25,900 in 2022 and for individuals $13,850 vs. $12,950. A key take-away?

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Money Talk

FEBRUARY 9, 2023

Cryptocurrency - Crypto values had a bit of a rebound in January 2023 after experiencing a series of negative events in 2022 including the collapse of the crypto exchange FTX and the failure of several so-called stablecoins. 2023 is expected to be an active year for additional mandates with 30 bills introduced in 10 states in January alone.

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Money Talk

SEPTEMBER 5, 2024

from July 2023 to July 2024 according to the U.S. Other dark patterns include making it very difficult to cancel a service or subscription that was so easy to sign up for (e.g., requiring a phone call) and “bait and switch” dark patterns that try to get consumers to upgrade when a low cost product or service is “unavailable.”

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Employee Benefit News

DECEMBER 26, 2023

The year saw both progress and problems, from glitches in the Inflation Reduction Act to a controversial new rule for advisers.

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Employee Benefit News

DECEMBER 13, 2023

From AI's impact to the innovations that can make healthcare affordable, we recap the hardest-won lessons of the year.

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Employee Benefit News

DECEMBER 18, 2023

From Ally to AllState, here are the big benefit moves organizations made throughout the year.

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Employee Benefits 122

Money Talk

OCTOBER 27, 2022

While taxpayers have until the tax filing deadline in April 2023 to contribute to an individual retirement account (IRA) for 2022, many people prefer to make all of their current year tax-saving moves before year-end. This leaves about two months to make an IRA deposit during the 2022 calendar year or up to six months if you wait until April.

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Money Talk

DECEMBER 7, 2023

As the year winds down so, too, does your opportunity to take proactive steps to reduce 2023 income tax due in April 2024 and, perhaps, taxes due in future years as well. By early December 2023, income and tax withholding should be pretty predictable and tax-saving strategies taken so far (e.g., Seek professional advice as needed.

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PayrollOrg

JUNE 2, 2023

Effective July 1, 2023, private employers in Florida with 25 or more employees must use the E-Verify system to verify a new employee’s employment eligibility within three business days after the first day that the new employee begins working for pay.

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Money Talk

APRIL 11, 2024

The 2023 income tax filing deadline is only days away (April 15, 2024 in most of the U.S.). The maximum contribution for traditional IRAs for 2023 was $6,500 for workers under age 50 and $7,500 for those age 50+. It will be a busy weekend for many taxpayers and tax preparers who are filing tax returns or tax filing extensions.

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Money Talk

FEBRUARY 15, 2024

With 2023 tax season well underway, now is a good time to examine income tax rates, which are a percentage of taxpayers’ income that is taxed. For example, if a couple owes $25,000 on a $150,000 taxable joint income, their effective tax rate is $25,000 ÷ $150,000 = 16.7%, even though their 2023 and 2024 marginal tax bracket is 22%.

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Taxes 401(k) Commissions Bonuses 185

Darwinbox

AUGUST 7, 2024

Data, the gold of the 21st century IBM’s Cost of a Data Breach Report 2023 highlights that the average cost of a data breach soared to USD 4.45 million in 2023. million in 2023. million in 2023. The costs of data breaches vary across industries and countries. See Figure 1.

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Employee Benefit News

DECEMBER 4, 2023

This is the third time the streaming service has carried out mass layoffs this year in an effort to shrink costs and drive profitability.

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Money Talk

JUNE 8, 2023

Personal Experience - Intrigued by this topic, I decided to try a personal online gambling experiment and placed my first online bet ever on the 2023 Kentucky Derby. My husband and I each bet $10 and, upon checkout, the platform charged a $5 service fee or 25% of the amount of our bets!

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