News & Insights

Keeping employees satisfied in uncertain economic times 

Amid looming recession concerns, many employees are feeling the financial pinch and looking at their compensation with a more scrutinizing eye. Employers should consider a compensation study to ensure they are paying their employees fairly with the market standard. Employees who feel they are paid...

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Annual PCORI fee increases for 2024  

Each July 31, heath plans pay an IRS fee to support the Patient-Centered Outcomes Research Institute (PCORI), a nonprofit research organization chartered by the Affordable Care Act to improve health care outcomes and experiences for patients. Self-funded plan sponsors pay the fee directly, while...

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Overtime threshold updates expected

The U.S. Department of Labor (DOL) is expected to release a Notice of Proposed Rulemaking in May to update the salary threshold for overtime eligibility. Currently, non-exempt employees earning a salary of less than $684 a week, or $35,568 annually, are entitled to overtime pay for hours worked in...

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FTC action threatens noncompetes

The Federal Trade Commission (FTC) recently proposed a rule to effectively wipe out noncompete contracts between employees and employers. This ban would render existing noncompetes void and new noncompetes illegal. According to the FTC, a noncompete clause is a contractual term between workers and...

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EEO-1 reporting on the horizon

The 2022 EE0-1 Component 1 data collection is tentatively slated to open mid-July. All private employers with at least 100 employees and certain under-100 employers must provide demographic workforce data, including data by race or ethnicity, sex and job categories. Updates, including the...

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Weather the storm with peace of mind

While April showers bring May flowers, spring storms can also cause a flurry of damage. Homeowners should take the time to review their insurance policies annually to ensure they are not underinsured and vulnerable to costly liabilities.

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Keep your business profitable

With an uncertain economic forecast on the horizon, business owners need to keep an extra close eye on their books to avoid excess costs. Keeping a business profitable is a basic goal of any owner, but the formula to get there is not always so simple. These tips can help take you from merely...

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2023 mileage rate increases

Employers with employees who operate personal vehicles for business use can adopt the IRS-established standard mileage rate to determine reimbursement. The rate for 2023 is 65.5 cents per mile and is determined based on a study of fixed and variable costs of operating a vehicle.

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Form 1094-C and 1095-C deadline approaching

Employers who have 50 or more full-time employees, also known as applicable large employers (ALEs) should use Forms 1094-C and 1095-C to report offers and enrollments in health coverage by February 28, 2023, to the Internal Revenue Service (IRS), and by March 2 to employees.

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Form W-2 reporting due January 31

The Affordable Care Act (ACA) requires employers who issued more than 250 Form W-2s in the prior year to report the cost of employer-sponsored health coverage in Box 12 of the 2022 form.

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