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Compensation & Benefits

July 2024: Employer’s business tax calendar

05/31/2024
Here’s your monthly guide to critical payroll due dates.

Employer groups sue to block DOL’s new overtime rule

05/24/2024
A coalition of trade associations has filed a sweeping lawsuit asking a federal court in Texas to postpone the rule’s July 1 effective date, stop the rule from taking effect and forbid the DOL from “taking any action whatsoever” to implement the rule.

401(k) balances up 17% year over year

05/20/2024
The Bank of America Institute crunched the numbers, concluding that employees are contributing slightly more to their 401(k)s while borrowing against their funds less.  

Employees reclassified? Time to start training managers

05/20/2024
You say you have already responded to the Department of Labor’s new overtime salary threshold by reclassifying some white-collar employees as overtime-eligible nonexempts? Congratulations! Now comes the hard part—training managers in the finer points of the Fair Labor Standards Act before the new rules take effect on July 1.

The OT clock is ticking: Will you be ready for the new rule by July 1?

05/20/2024
Some employers are responding to the U.S. Department of Labor’s new white-collar overtime salary threshold rule by reclassifying some exempt employees into overtime-eligible nonexempts. In other cases, they’re planning to avoid additional overtime by raising pay above the new salary threshold. How far along are you? You now have just over one month to comply with the Department of Labor’s new rules, which take effect July 1. Here’s what you need to do now.

Avoid the wage-and-hour mistake that just cost an employer $229 million

05/17/2024
A jury recently reminded a Washington state employer that rounding time in a way that deprives employees of pay—even if it’s just pennies—can trigger a class-action lawsuit with a huge payout.

Add support benefits for employees diagnosed with early-onset cancer

05/15/2024
It’s more likely than ever that some of your employees may be diagnosed with cancer. Employers can provide invaluable support to employees who receive the terrifying news that they have cancer.

Food for thought: What can health FSAs reimburse for?

05/15/2024
Some aggressive marketers say employees’ food bills can be reimbursed tax-free through their health flexible spending accounts. The IRS says no.

In the Payroll Mailbag: June ’24

05/15/2024
Are old laptops given to employees for their personal use taxable? … Must we tax employees who bring spouses to a company event?

Too hot to handle: Teen labor & summer jobs

05/15/2024
Wage-and-hour enforcement is a delicate balance between federal and state law. Federal law always overrides state law when it provides more protection to employees, like teens working longer hours than the Fair Labor Standards Act allows, or in jobs prohibited by the FLSA’s hot-goods provision. It’s wise to keep this interplay in mind if you’ll be hiring teens this summer.