Compensation & Benefits

Benefits: Should we put details in the employee handbook or the Summary Plan Description?

11/27/2014

Q. Should a small business employee handbook include a safe-harbor clause under the benefits section for their 401k plan? In the past, the benefits information in the handbook has been limited because it can change so often. Instead, the handbook just points the employee to the summary plan documents.

The ‘Ghosts of W-2s Past’ need haunt you no longer

11/27/2014

It’s officially Payroll crunch time. The Social Security Administration is cracking down on employers that submit W-2/W-3 forms with errors … but you already have everything organized and ready to go, right?

If employees are absent the day before or after a holiday, can we withhold their pay?

11/26/2014

Q. Our employee handbook states that if employees are sick before and after a holiday and they do not get a doctor’s note, they will not get paid for those missed days. Is this legal?

Another chore? Early W-2s and verification of FICA taxes paid

11/26/2014

Q: A terminating employee is requesting an early W-2. He’s also requesting that Payroll provide him with written verification that he hit the 2014 Social Security taxable wage base, even though his W-2 clearly shows this in Box 3. He insists that he doesn’t need to restart paying Social Security taxes with his new employer, since he maxed out for 2014. Is he correct?

DOL takes action on two minimum wage issues

11/24/2014

The Department of Labor (DOL) is closing out the year with a bang. It’s issued final regulations increasing the minimum wage to $10.10 an hour for employees who work on new or renewed federal contracts and has postponed enforcement action on its final regulations governing home care workers.

Slip sliding away: How to handle weather-related absences

11/22/2014

Absences occasioned by bad weather can clash with the Fair Labor Standards Act. Here are the five key rules you need to know to make this winter (or any season) run smoothly.

State-by-state chart on 2014 W-2 mag media/e-filing requirements

11/21/2014

States have their own W-2 e-filing thresholds and specifications. This chart summarizes those requirements.

Take credit for your health benefit contributions

11/21/2014

If you’re shopping around for group health benefits on the SHOP, don’t forget to factor in the value of the small business health care credit when evaluating the cost of a group policy.

Payroll 2015: What you need to know now

11/20/2014

Increases to the personal exemption amount, which doubles as the annual withholding allowance amount, are based on increases to the August Consumer Price Index. Here are the crucial payroll figures you need now.

Employees can sock away more for retirement next year

11/19/2014

The amount employees can contribute to their 401(k) or 403(b) plan accounts increases to $18,000 for 2015, the IRS has announced.