December 2024

Insight & Solutions  2
 

News

Federal Court Strikes Down U.S. DOL Overtime Exemptions Rule Nationwide

On Nov. 15, 2024, a Texas federal court struck down a U.S. Department of Labor (DOL) rule that raised the minimum salary required to be paid to most employees classified as exempt from overtime and minimum wage requirements under the Fair Labor Standards Act (FLSA). 

The court’s decision blocks the minimum compensation increases that were scheduled to go into effect on Jan.  1, 2025, and invalidates the previously required July 1, 2024, increases nationwide.  

IRS Releases 2025 HSA and HDHP Limits

The Internal Revenue Service (IRS) via Revenue Procedure 2024-25 has released the inflation-adjusted contribution limitations for calendar year 2025 in relation to health savings accounts (HSAs) and high-deductible health plans (HDHPs).

IRS Releases 2025 HSA and HDHP Limits

The Internal Revenue Service (IRS) via Revenue Procedure 2024-25 has released the inflation-adjusted contribution limitations for calendar year 2025 in relation to health savings accounts (HSAs) and high-deductible health plans (HDHPs).

Minimum Wage Increase for Federal Contractors Announced

The Department of Labor (DOL) has announced that the hourly minimum wage for employees performing work on covered federal contracts will increase from $17.20 to $17.75 on Jan.  1, 2025.  The new minimum wage rate will apply in full to tipped and non-tipped employees, as well as to workers with disabilities.

Time Off to Vote: 8 Facts Employers Should Know

Many jurisdictions require employers to provide time off to employees to vote and/or act as an election official. Here are eight key facts about these requirements.

Social Security Wage Base for 2025 Announced

On Oct. 10, 2024, the Social Security Administration (SSA) announced the 2025 wage base. The annual wage base limit is the maximum amount of employee wages that are subject to the social security tax for the calendar year.

Longer Automatic Extension Granted for Green Card Renewals

U.S. Citizenship and Immigration Services (USCIS) has automatically extended the validity of Permanent Resident Cards (also known as Green Cards) to 36 months for lawful permanent residents who file Form I-90, Application to Replace Permanent Resident Card.

This extension is expected to help applicants who experience longer processing times, because they will receive proof of lawful permanent resident status as they await their renewed Green Card.

FTC Non-Compete Rule Blocked Nationwide - Employer Considerations

A Texas court has set aside the Federal Trade Commission’s (FTC’s) Final Rule banning almost all non-compete clauses days before it was set to take effect on Sept. 4.  The court’s ruling bars the FTC from enforcing the Final Rule nationwide.  

Form I-9 Updated with New Expiration Date

U.S. Citizenship and Immigration Services (USCIS) has updated the Form I-9 (I-9) to extend the expiration date from July 31, 2026 to May 31, 2027.

Federal Appeals Court Strikes Down Tipped Employee 80/20/30 Rule

On Aug. 23, 2024, a three-judge panel of the 5th United States Circuit Court Appeals unanimously struck down the 2021 Department of Labor Final Rule regarding tipped employees.
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