The DOL on Tuesday released its highly anticipated finalized overtime rule, raising the minimum salary level to $35,568 per year for a full-year worker to earn overtime wages. “Today’s rule is a thoughtful product informed by public comment, listening sessions and long-standing calculations,” Wage and Hour Division Administrator Cheryl Stanton says in a statement. “The […]
It seemed uncontroversial at first. A bill in California to create the country’s first regulatory framework for companies that offer early access to employees’ earned wages passed the state Senate 35-0 in May. The measure, which would establish the legal parameters for a lower-cost alternative to payday loans, then got the unanimous approval of three […]
A pair of recent regulations may create new opportunities for smaller employers to provide cost-effective retirement benefits for their employees. The Department of Labor (DOL) and the Internal Revenue Service (IRS) have joint authority to govern and regulate the operation and administration of employer-sponsored retirement plans. Following a policy trend established by the Trump administration […]
CareGiving.com, an online library of resources for caregivers, has partnered with SeniorGuards, a caregiving solutions provider, to offer a new voluntary employee benefit to help employees manage their familial and professional responsibilities. SeniorGuards, which relaunched on September 6 as SupportGuards, now offers a caregiving benefit that provides free services, including access to specialized caregiving consultants […]
Properly classifying workers as either employees or independent contractors is critically important for California businesses. Employees generally are entitled to benefits that contractors are not, including sick leave, workers’ compensation coverage, overtime, and meal and rest breaks. But while relying on contractors may manifest significant upfront savings, the cost of defending a misclassification lawsuit often […]
Amazon-owned Whole Foods Market is changing medical benefit eligibility requirements next year that could leave as many as 1,900 part-time workers without coverage. Employees will have to work at least 30 hours a week to qualify for a healthcare plan beginning Jan. 1, up from the current eligibility requirement of 20 hours, the company said […]
When employees feel like their voices are being heard, they are reportedly 4.6 times more likely to contribute their best work, according to SalesForce data. Ultimately, knowing that the company is interested in what employees have to say builds trust and encourages loyalty among members of the workforce. Respect is the most important leadership behavior, […]
The eight-hour workday became common practice in the early 1900s, in a time before the rise of digitalization, robots and technology. Yet even today it still remains labor standard. The average full-time employed American works 42.5 hours per week, or 8.5 hours per day, according to the Bureau of Labor Statistics. That isn’t likely to change […]
Demand for top talent is pushing plan sponsors to enhance their employee benefits. Some are making changes to their fertility benefits and publicly sharing the details in an effort to attract and retain key talent. A recent Willis Towers Watson study of employer groups, found that 66% of employers planned to offer a fertility benefit […]
The IRS recently issued revenue ruling 2019-19. The revenue ruling provides 401(k) plan administrators with helpful guidance on how to report and withhold from 401(k) plan distributions when a plan participant actually receives the distribution but for some reason, does not cash the check. Unfortunately, this new guidance does not provide answers to the complex issues […]
