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IRS Eases Restrictions on Midyear Employee Health Plan Changes
In response to recent events, the Internal Revenue Service has issued guidance on relaxed restrictions for midyear employee health plan changes, giving employers the choice to open certain plan choices. The new guidance applies to “cafeteria plans” under Section 125 of the Internal Revenue Code – that is, employer-sponsored health coverage, health flexible spending arrangements […]
DHS Temporarily Loosens Key I-9 Verification Requirements
This blog post was originally published on April 2, 2020. On May 14, DHS extended remote document inspection for another 30 days. The Department of Homeland Security (DHS) has temporarily eased key physical inspection requirements pertaining to the Form I-9, or Employee Eligibility Verification. In short, employers with workers “taking physical proximity precautions due to […]
Senate Approves Additional $321 Billion for SBA Paycheck Protection Program
Update: This blog post was originally published on April 21, 2020. On April 24, President Trump approved $321 billion in additional funding for small businesses. This is part of $484 billion allocated in that legislation, intended to bolster the American economy at this time. More federal funds may soon be on their way to small businesses throughout the country. […]
Update: Special ACA Enrollment Periods
Some states are offering special open enrollment periods for Affordable Care Act (ACA) coverage due to current events. In March, the Trump administration considered a special enrollment period (SEP) to allow more people to sign up for coverage under the ACA, but later decided against an across-the-board reopening of enrollment. The official open enrollment period […]
What the CARES Act Could Mean for Your Organization
Part of Paycom’s job – especially in the thick of the current COVID-19 situation – is to keep you informed about new legislation with direct impact on employers. The Coronavirus Aid, Relief, and Economic Security (CARES) Act is certainly no exception. Signed into federal law on March 27, the CARES Act is a $2 trillion […]
How the Families First Coronavirus Response Act Impacts Employer Leave Policies
The federal government recently has taken several steps to mitigate the effects of the coronavirus pandemic. Of special relevance to HR professionals is the Families First Coronavirus Response Act (FFCRA), which was signed into law on March 18. In general, the legislation focuses on private-sector organizations employing fewer than 500 people. Read about the Coronavirus […]
What the Recent ACA Individual Mandate Ruling Means for Employers
On Dec. 18, the 5th U.S. Circuit Court of Appeals issued an opinion on the constitutionality of the Affordable Care Act (ACA). On a 2-1 vote, the court found the individual mandate – the requirement that individuals maintain health insurance or pay a penalty – unconstitutional now that Congress has reduced the penalty to $0. […]
Update on 2020 IRS Form W-4
This blog post was originally published on June 6, 2019 and updated on Dec. 31, 2019. This summer, the IRS proposed an important revision to the W-4. The goal of the W-4 has always been to ensure withholdings align with the employee’s ultimate tax liability, and this proposed revision is intended to ensure continued alignment […]
DOL Releases Final Overtime Rule, Setting Standard Salary Threshold at $684 Per Week
This blog post was originally published on Sept. 24, 2019 and updated on Dec. 31, 2019. In September, the U.S. Department of Labor released its final rule that increases the salary threshold for workers in the executive, administrative and professional exemptions. The threshold increased from $455 per week (or $23,660 per year) to $684 per […]
SEC Proposes Change to Business Reporting Requirements
For public companies subject to the U.S. Securities and Exchange Commission’s regulation on mandatory disclosure, changes may be coming very soon. The proposed amendments to Regulation S-K aim for “modernization.” From an HR standpoint, the most important potential change comes down to three words: “human capital resources.” If amended, the rule would make a company’s […]
1 Big Reason to Verify Your I-9s Are in Compliance
Raids by U.S. Immigrations and Customs Enforcement (ICE) are up – way up. Data from the federal agency shows that between fiscal years 2017 and 2018, arrests of unauthorized workers have increased twofold and ninefold, respectively. ‘Routine I-9 audit’ On April 3, ICE carried out its largest worksite operation in the last 10 years, arresting […]
2 Things to Do Before Moving Salaried Employees to Hourly for FLSA Threshold
On March 7, 2019, the U.S. Department of Labor (DOL) announced its proposed rule to increase the standard salary threshold under the Federal Labor Standards Act (FLSA). See this post for updated information. If finalized, the proposed change to the Fair Labor Standards Act (FLSA) salary level (to $679 weekly, or $35,308 per year) would make […]