The IRS recently issued final regulations that permit employers to voluntarily truncate employee SSNs on copies of IRS Forms W-2 furnished to employees. The purpose of the regulations is to aid employers’ efforts in protecting workers from identity theft. Proposals & comments On September 20, 2017, the...
Workplace accidents are often caused by human error, not faulty equipment. Typically, if an employee has an unsafe attitude, their job performance will become careless and a mishap (large or small) will soon follow. “Unsafe” does not necessarily mean “on purpose,” and “attitude” does not necessarily...
Many growing businesses and other types of employers want to offer a 401(k) plan but do not want to deal with the stress and administrative challenges of following the IRS’ nondiscrimination testing rules for elective deferrals and matching contributions. One potential solution may be to set...
For many small and even some midsize employers, keeping up with the regulatory and administrative functions of HR is not easy. Sometimes most or all the work is assigned to an office manager who is not specifically trained to handle HR and may inadvertently make costly...
Many organizations have employees who become eligible for benefits during their employment. At such time, the employer must provide them with an SPD of any health benefits plan (or retirement plan) covered by the Employee Retirement Income Security Act of 1974 (ERISA). One commonly asked question...
It is not uncommon for an employer to realize, after the fact, that an employee conducting a job interview asked a question that put the organization at risk for a discrimination claim. If you make such a discovery, do not panic. Rather, actively move to remind...
Many employers operate in locations where employees can bike to work. If you have employees who do so, you might wonder whether you can still reimburse bicycle commuting expenses as a fringe benefit, given the tax law changes in recent years. The short answer is...
Employers grapple with many competing goals when it comes to compensation and pay raises. You probably want to reward specific employees who have made contributions to the organization and try to ensure your salaries are in line with what competitors are paying. But you also...
Nonqualified deferred compensation (NQDC) plans pay executives, or other key employees at some time in the future, for services to be currently performed. If your organization offers one or is considering offering one, it is critical to be aware of the applicable tax rules. Included...
By now, most employers have read about, hired, and gotten to know Millennials. Well, guess what? A whole new demographic is here: Generation Z (Gen Z). Whereas Millennials are generally those who came of age around the Millennium, Gen Z are typically regarded as those...