The drawbacks of legacy payroll and HR systems have grown more evident in recent months as businesses and their employees adapt to the challenges associated with COVID-19. With the workforce turning over quickly due to shifting work restrictions and budgets, current infrastructure falls short in affording companies much-needed flexibility.
Employees will be able to contribute up to $2,750 to a health flexible spending account (FSA) in 2021, the same as in 2020, the Internal Revenue Service (IRS) announced in Revenue Procedure 2020-45. However, changes were made to certain other benefits thresholds and limits.
As employers reevaluate employee benefits following the labor shock of 2020’s COVID-19 pandemic, they must look at ways to both shore up financial health and help reduce potential future stressors.
Employers everywhere are implementing “back to the office” policies to protect workforce health and well-being and reassure employees they will be safe when returning to work. Most of this effort focuses on getting employees back to the offices they left a few months ago. But what about the people you need to relocate?
The coronavirus public health emergency has created a number of issues affecting employee benefit plans. Employers are asking numerous questions: What does our health plan have to cover as it relates to coronavirus testing and treatment? Can our employees take a distribution from their retirement plan penalty free to deal with the coronavirus and its […]
It’s the time of year when employers are thinking of creative ways to thank employees and provide a bit of holiday cheer. The gift you choose, however, could have tax consequences for employees, which may not be a welcome prize from their perspective.
As you’re scrolling through your e-mail, you notice a LinkedIn notification that one of your top performers has added a new job. Before you send out the bat signal to the recruitment team, you should read this article.
Yesterday we began to explore some of the changes that the Bipartisan Budget Act of 2018 has made to the Tax Cuts and Jobs Act, and what it all means. Today we will continue to explore the topic, including the definition of compensation and hardship distributions.
With unemployment hovering near record lows, employers are finding it tough to fill some positions. They’re starting to change tactics, often looking at previously ignored groups of jobseekers or changing how they attract applicants altogether. Let’s take a look.
The executive benefits and perquisites landscape may make you recall lessons from high school geology. Movement is often slow, but can result in dramatic shifts. As the competitive landscape adjusts to economic and societal forces, so do the ways companies seek to attract and retain their key executives. To find out whether (or how) benefits […]