Profit Sharing Plan and Retroactive Amendment
As a follow-up to last month’s blog on the benefits of retroactively establishing a profit-sharing plan, the Secure Act 2.0 also gives retirement plan sponsors the ability to retroactively amend […]
Internal Revenue Service Releases 2024 ACA Penalty Amounts
The Internal Revenue Service (IRS) released Rev. Proc. 2023-17, which outlines the inflation adjustments for the employer shared responsibility payments (ESRP) under the Affordable Care Act (ACA). Under the ACA’s […]
Temporary Workers’ Bill of Rights Signed into Law in New Jersey
In early February 2023, Governor Phil Murphy signed the Temporary Workers’ Bill of Rights (the Bill) which expands the rights and protections afforded to temporary workers. The Bill is applicable […]
President Biden Adopts the New Regulations Impacting Working Mothers
Congress recently passed, through the Consolidated Appropriations Act, 2023, the PUMP for Nursing Mothers Act (the Act) which makes several changes to the Break Time for Nursing Mothers law, enacted […]
Tax Planning and Profit Sharing Plan
If you’re a business owner looking to save for retirement while also reducing your taxable income, adding a profit-sharing component to an employer retirement plan could be an attractive option. […]
President Biden Reveals Plan to End National COVID-19 Emergency
On January 30 President Biden issued a statement of policy to Congress in which he announced that the administration plans to end both the National Emergency related to COVID-19 originally […]
EEOC Updates Guidance Related to COVID-19 Workplace Testing
In recognition of the changing circumstances related to the COVID-19 pandemic, the EEOC has updated its guidance around conducting testing for on-site employees. Employers covered by the Americans with Disabilities […]
Biden Administration Enacts Speak Out Act
Ahead of the close of the 117th U.S. Congress, the House of Representatives, with a vote of 315 – 109, quietly passed the Speak Out Act (“The Act”). President Biden […]
Continuing Appropriations Act Extends HDHP Relief for Telehealth Services
President Biden last week signed the Continuing Appropriations Act, 2023 (CAA 23) to provide funding for the federal government through the current fiscal year. But employers also should know there […]
Feds Extend Prescription Drug Filing Deadline, Announce Relaxed Enforcement
The Departments of Labor, Health and Human Services, and the Treasury (collectively, the Departments) last week issued an FAQ that relieved filing entities from the December 27, 2022, deadline for […]
