2024 Federal Contractor Minimum Wage Increase Announced Thursday, November 2, 2023 | Federal Compliance Update The United States Department of Labor (DOL) has announced increases to the minimum wages that federal contractors covered under Executive Orders (EO) 13658 and 14026 must pay their employees who are performing work on or in connection with certain covered federal contracts.
Social Security Wage Base for 2024 Announced Monday, October 30, 2023 | Federal Compliance Update On Oct. 12, 2023, the Social Security Administration (SSA) announced the 2024 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.
Patient-Centered Outcomes Research Institute (PCORI) Fee for 2023 Announced Monday, October 30, 2023 | Federal Compliance Update The Internal Revenue Service (IRS) released Notice 2023-70, which establishes the applicable dollar amount for policy and plan years ending on or after Oct. 1, 2023, and before Oct. 1, 2024, in relation to the Patient-Centered Outcomes Research Institute (PCORI) fee established under the Affordable Care Act (ACA).
EEO-1 Reporting to Open October 31 for Covered Employers Tuesday, October 3, 2023 | Federal Compliance Update The U.S. Equal Employment Opportunity Commission (EEOC) has announced that it will begin accepting EEO-1 reports for 2022 via its portal on Oct. 31, 2023. The deadline to file the report is Dec. 5, 2023.
EEO-1 Reporting to Open October 31 for Covered Employers Tuesday, October 3, 2023 | Federal Compliance Update The U.S. Equal Employment Opportunity Commission (EEOC) has announced that it will begin accepting EEO-1 reports for 2022 via its portal on Oct. 31, 2023. The deadline to file the report is Dec. 5, 2023.
NLRB Adopts New Standard for Reviewing Workplace Policies Wednesday, September 27, 2023 | Federal Compliance Update The National Labor Relations Board (NLRB) has adopted a new standard for determining whether an employer’s policy violates Section 7 of the National Labor Relations Act (NLRA). The NLRB began applying the standard immediately.
Treasury Delays SECURE 2.0 Mandatory Roth Catch-Up Contributions to 2026 Tuesday, September 5, 2023 | Federal Compliance Update On Aug. 25, 2023, the U.S. Treasury Department and the Internal Revenue Service (IRS) issued Notice 2023-62, Guidance on Section 603 of the SECURE 2.0 Act with Respect to Catch-Up Contributions.
SECURE 2.0 Catch-Up Contributions Must be Made on a Post-Tax (Roth) Basis for “High Wage Earners” beginning in 2024 Tuesday, September 5, 2023 | Federal Compliance Update When the Consolidated Appropriations Act of 2023 was signed into law late last year, it included several provisions affecting retirement savings plans. These provisions are collectively referred to as the Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0 Act).
Delayed California Consumer Privacy Act regulations: Slight reprieve but time is ticking Tuesday, September 5, 2023 | Federal Compliance Update The Superior Court of California has delayed enforcement of the new California Consumer Privacy Act (CCPA) Regulations for one year. This means that the California Privacy Protection Agency (CPPA) cannot begin enforcement of the new regulations until March 29, 2024. The delay offers employers a slight reprieve, but time is ticking. Click here for more details.
U.S. DOL Proposes Increase to Minimum Salary for Exempt Employees Tuesday, September 5, 2023 | Federal Compliance Update On Aug. 30, 2023, the United States Department of Labor (DOL) released its highly anticipated proposed overtime rule. This rule, if finalized, would increase the minimum salary amount required to be paid to executive, administrative and professional (EAP) employees and the required annual compensation to be paid to highly compensated employees (HCEs) in order for these employees to be considered exempt from the Fair Labor Standards Act (FLSA) overtime pay requirements. The DOL is also proposing automatic updates to these amounts every three years.