McDermott Will & Emery Employee Benefits

AUGUST 28, 2023

Act until at least 2026. Specifically, the announcement provides that, until 2026, catch-up contributions will satisfy the requirements under SECURE […] The post There’s a Party Going on Right Here! appeared first on EMPLOYEE BENEFITS BLOG. Roth Catch-Up Change Delayed Two Extra Years!

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Employee Benefits

MAY 24, 2024

The initiative is part of its plans to triple its investment in environmental sustainability by 2026 and its aims to spend more than $1.4 We are grateful for the efforts of all our employees, across our factories, offices and stores, who are actively reducing their environmental impact.” billion (£1.1

Bonuses 105

Bonuses Salary Retail Employee Benefits 105

Employee Benefits

NOVEMBER 17, 2022

In addition, the employment allowance will be retained at a higher level of £5,000 until March 2026. The post Government maintains national insurance contributions freeze appeared first on Employee Benefits. “A lower tax regime keeps unemployment low, maximises government receipts through income tax and corporation tax.

Government 105

Government Insurance Taxes Recruitment 105

Employee Benefits

SEPTEMBER 20, 2023

The organisation will also further strengthen its aim of gender diversity by targeting more than 35% of women in senior leadership roles by 2026, and is committed to being a responsible employer of choice by embedding a performance and accountability focused culture and increasing its employee engagement score.

Finance 105

Finance Employee Benefits Employment IT 105

Employee Benefits

DECEMBER 7, 2023

Credit: Claudio Caridi / Shutterstock.com Automobili Lamborghini has signed an agreement to balance its Italian employees’ leisure and work time through greater flexibility and reshaping working hours. The post Automobili Lamborghini signs agreement to improve employee flexibility appeared first on Employee Benefits.

Paid Leave 105

Paid Leave Bonuses Salary Employee Benefits 105

McNees

MAY 25, 2022

Employers with 10 to 24 employees only need to offer parental leave. Employer contributions begin on January 1, 2025, and eligible employees will be permitted to take leave beginning on January 1, 2026. Employers may require employees to use accrued paid time off to substitute for paid leave.

Paid Leave 105

Paid Leave Parental Leave Deductions Deductible 105

Employee Benefits

AUGUST 7, 2024

It is no surprise the government is mandating the payrolling of benefits in kind (BIK) and expenses, with paper P11D submissions being abolished in April 2023. However, mandating payrolling of BIKs was introduced by a previous government; will Labour agree and pursue an implementation date of April 2026?

Employment 59

Employment Payroll Software Payroll Taxes 59

Employee Benefits

JUNE 3, 2024

It was calculated using the average of forecasts from the Bank of England and the Office for Budget Responsibility for 2024-25, 2025-26 and 2026-27. The post Scottish government introduces pay rise for public sector employees appeared first on Employee Benefits. The policy stated that the 9.3%

Government 59

Government Banking Finance Recruitment 59

Proskauer's Employee Benefits & Executive Compensa

DECEMBER 15, 2023

(Reminder: the IRS granted a 2-year “administrative transition period” for the Roth catch-up requirement described in more detail here , which will now be required starting in 2026). The technical corrections bill changes the effective date for the 10% ceiling rate cap for non-safe harbor plans to plan years ending before January 1, 2026.

401(k) 98

401(k) Retirement Plan Education Finance 98

Proskauer's Employee Benefits & Executive Compensa

JANUARY 16, 2024

The following amendment deadlines now apply: For plans other than collectively bargained plans, the deadline is December 31, 2026. For all other collectively bargained plans, the deadline is December 31, 2026.

401(k) 111

401(k) Taxes Retirement Plan Employment 111

Employee Benefits

FEBRUARY 17, 2023

With the LTA presently frozen until April 2026 any future increases in the LTA could be modest so you could end up exceeding the Allowance by retirement. This approach helps employees understand all their options before making what could be life-changing decisions, therefore leading to better outcomes for all.”

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Pension Taxes Pension Benefit Salary 104

Snell & Wilmer Benefits

MAY 31, 2024

The increased catch-up contribution limit for eligible participants is the greater of: (a) $10,000, subject to cost-of-living adjustments starting in 2026; or (b) 150% of the limit in effect for 2024 (i.e., Roth catch-up rule for certain high-earning individuals, which the IRS delayed to 2026. What is the increased limit?

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401(k) Payroll Taxes Employee Benefits 52

Employee Benefits

APRIL 24, 2023

The aim is to replicate the subsidised model in Quebec and guarantee that by 2026, parents pay no more than an average of C$10 a day for childcare,” he says. appeared first on Employee Benefits. The post What can the UK learn from childcare policies around the world?

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Parental Leave Government Education Recruitment 111

Employee Benefits

JULY 18, 2024

The accreditation runs until February 2026, after which the forces must submit further evidence to demonstrate their continued commitment to unpaid carers. The post Three police forces accredited for supporting carers in the workplace appeared first on Employee Benefits.

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Employee Benefits Employment Management IT 59

Employee Benefits

FEBRUARY 5, 2024

Alfonso Martinez, UK managing director at ALD Automotive/LeasePlan, says: “Zero and low-emission company car drivers enjoy lower benefit-in-kind (BIK) tax rates, which are fixed at 2% until April 2025. This will then change to 3% in 2025/26, 4% in 2026/27, and 5% in 2027/28.”

Management 91

Management Taxes Salary Engineering 91

Employee Benefits

NOVEMBER 28, 2023

Unite will also work with Brake Brothers on its proposals to invest an additional £10 million to extend the Newhouse facility by 50,000 square feet in 2026, which will enable further growth and could see the creation of up to 100 new jobs. The post Brake Brothers staff secure pay deal appeared first on Employee Benefits.

Bonuses 59

Bonuses Construction Food Employee Benefits 59

Employee Benefits

NOVEMBER 8, 2022

The options have a contract start date of 1 December 2022 and are exercisable between 1 December 2025 and 31 May 2026. Boohoo said in its statement: “The scheme is open to all employees, giving them the opportunity to participate in the future growth of the company via share option arrangements.” They were issued a total of 32.2

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Retail Employee Benefits IT 59

Employee Benefits

MARCH 7, 2024

We are very much on track to deliver our bold five-year growth plan to double sales by 2026 and to have significantly more than 3,000 shops in the UK over the longer term.” million bonus among staff appeared first on Employee Benefits. The post Greggs to share £17.6

Bonuses 59

Bonuses Pension Benefit Manufacturing Pension 59

Employee Benefits

NOVEMBER 15, 2023

It’s also the latest step in our ambition to be leading in our sector on diversity, equity and inclusion by 2026. The post RSA Insurance to introduce equal parental leave appeared first on Employee Benefits.

Parental Leave 59

Parental Leave Insurance Employee Benefits IT 59

Employee Benefits

APRIL 17, 2024

In order to combat its gaps, Salesforce has appointed a vice president of equality strategy in the Europe, Middle East and Africa region and a dedicated UK equality partner, and also introduced a multi-year gender goal to reach 40% women-identifying and non-binary employees globally by the end of 2026.

Bonuses 59

Bonuses Software Employee Benefits IT 59

Insperity

OCTOBER 10, 2023

The Internal Revenue Service (IRS) will begin enforcing this provision in 2026. To learn more about providing a competitive benefits package, download our free magazine: The Insperity guide to employee benefits. Act of 2022 benefits your workplace appeared first on Insperity. In 2033, this age will be 75.

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401(k) Retirement Plan Taxes Benefits Package 124

Employee Benefits

JUNE 8, 2023

The UK government has issued an update on its planned pensions dashboards programme , stating that it needs additional delivery time and its connection deadline will be 31 October 2026. The post Government extends pensions dashboard connection deadline appeared first on Employee Benefits.

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Pension Government Architecture Consulting 59

Snell & Wilmer Benefits

AUGUST 28, 2023

As we noted in a previous Employee Benefits Blog post Ready for Roth Contributions? Notice 2023-62 addresses these concerns by giving plan sponsors until January 1, 2026 to implement the SECURE 2.0 This SECURE 2.0 requirement applies for tax years beginning after December 31, 2023. Roth catch-up rule.

401(k) 52

401(k) Retirement Plan Taxes Employee Benefits 52

Employee Benefits

JULY 24, 2023

After a week of negotiations with the Advisory, Conciliation and Arbitration Service (Acas) the Aslef Executive Committee and trade union RMT agreed to suspend the planned industrial action on Wednesday 26 and Friday 28 July after receiving confirmation that there would be no change to the pension scheme until 2026.

Pension 52

Pension Pension Benefit Transportation Government 52

Proskauer's Employee Benefits & Executive Compensa

AUGUST 28, 2023

Next steps for plan sponsors and employers : Although Notice 2023-62 offers some much needed breathing room for plan sponsors and employers, given the complexity of system administration, efforts should continue toward a January 1, 2026 implementation date.

Taxes 52

Taxes Employment 401(k) 52

Employee Benefits

MAY 2, 2024

Although the deadline for connecting is 31 October 2026, trustees and pension scheme providers are expected to aim to connect by the timetable outlined in the guidance rather than waiting until the strict legal deadline. If you would like to speak to Jonathan please do not hesitate to get in touch.

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Pension Finance Banking Government 52

Employee Benefits

JANUARY 21, 2022

As announced in April’s Budget, the Lifetime Allowance (LTA) will be frozen at its current level of £1,073,100 until April 2026. However despite this, many employees don’t even realise that they are at risk. With the LTA presently frozen until April 2026, you could easily end up exceeding the allowance by retirement.

Pension 52

Pension Taxes Pension Benefit Education 52

Proskauer's Employee Benefits & Executive Compensa

SEPTEMBER 17, 2024

For that reason, some plan sponsors may choose to focus on compliance deadlines with a 2025 effective date for now (which is plenty to address on its own), and adopt a wait-and-see approach on the new requirements slated for 2026 until the outcome of any potential litigation becomes clearer.

Medical 40

Medical Recruitment Health and Welfare IT 40

Employee Benefits

AUGUST 2, 2023

by 2026, a significant rise that shows the demand for this gift option. What sets gift vouchers apart is that they give employees the liberty to buy something they genuinely want. Book a demo today to discover how Penfold can help boost employee retention and engagement.

Pension 52

Pension Food Deductions Deductible 52

Benefits Notes

AUGUST 29, 2023

If you have any additional questions regarding the impact of Notice 2023-62 on your retirement plans, please reach out to a member of Stinson’s employee benefits and executive compensation practice group. The transition relief provides, among other things, that: As anticipated, SECURE 2.0 may want to revisit those plans.

401(k) 52

401(k) Retirement Plan Executive Compensation Taxes 52

Snell & Wilmer Benefits

MAY 8, 2024

Effective February 16, 2026 , a group health plan must update its Notice of Privacy Practices to support reproductive health care privacy rights and address confidentiality of substance use disorder patient records as required under the CARES Act of 2020.

Medical 52

Medical IT Employee Benefits 52

Employee Benefits

DECEMBER 14, 2022

If brought into force, all EU derived legislation will fall away unless it is specifically retained by December 2023, with the option to extend until December 2026, explains Rachel Western, principal, health and risk at Aon. appeared first on Employee Benefits. The post What will the top reward trends be in 2023?

Pension 64

Pension Parental Leave Healthcare Government 64

Bayzat

FEBRUARY 14, 2023

One analysis of DX spending in the Middle East, Turkey, and Africa region predicted an aggregate investment of more than US$74 billion by 2026. This has been supercharged by the impact of the last two years.Investment in digital transformation is a runaway train in the region.

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Government Pension Health Insurance Retail 40

Empuls

JUNE 21, 2024

The research also revealed that up to 77% of workers with access to employer-sponsored benefits, chose to participate in the program, increasing the take-up rate. However, 71% of those working professionals under 40 do not know what happens to their benefits once they change jobs or leave before retirement. Bureau of Labor Statistics.

401(k) 40

401(k) Retirement Plan Pension roth 401(k) 40

Benefits Notes

MARCH 31, 2021

Many of the provisions in this sweeping legislation bring changes to the employee benefits world of which employers should take note and which are summarized below. The ARPA contains several new rules which impact COBRA benefits. Subsidized COBRA. Plan sponsors may elect to defer the changes until 2022.

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Family and Medical Leave Act Employee Benefits Taxes Pension 40

Proskauer's Employee Benefits & Executive Compensa

DECEMBER 23, 2022

Replaces the saver’s tax credit with the “saver’s match,” which is a federal matching contribution deposited in the retirement plan account for qualifying employees (based on modified adjusted gross income); the match is 50% of qualifying contributions up to $2,000 ( effective for tax years beginning after December 31, 2026 ).

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401(k) Retirement Plan Taxes Finance 108

Benefits Notes

DECEMBER 28, 2022

Effective for tax years beginning after December 31, 2026, the Act replaces the existing tax credit for participant contributions to IRAs or retirement plans with a federal matching contribution that must be deposited into the taxpayer’s IRA or retirement plan. Employee Benefits Practice: Stinson LLP Law Firm.

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401(k) Retirement Plan Taxes Salary 52