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Can Gig Businesses Offer Benefits To Their Workers? Recent Developments May Shed Light On Answer

There are obvious “benefits” to participating in the gig economy: Gig companies get to use as little or as much labor as they need. Gig workers are able to work at their chosen capacity. And customers get new products and services. But there are other “benefits” that are receiving more attention of late: “employee benefits.”

IRS Will Soon Issue Notices of 2015 ACA Penalties

Large employers may soon receive a notice from the IRS if they are liable for an employer shared responsibility payment for calendar year 2015 under the Affordable Care Act (ACA). The IRS updated its guidance on ACA employer shared responsibility provisions on November 9, announcing that it plans to issue penalty notices to Applicable Large Employers (ALEs) deemed out of compliance.

The Proposed Tax Cuts and Jobs Act Would Make Sweeping Changes to Executive Compensation and Employee Benefits

On November 2, 2017, the U.S. House of Representatives unveiled the Tax Cuts and Jobs Act (H.R. 1) (the “Bill”) as part of proposed tax reform legislation. The Bill is sweeping in scope and provides for significant changes to the U.S. Internal Revenue Code (the “Code”), including in the area of executive compensation and employee benefits.

Workflex in the 21st Century Act Could Modernize ERISA With Telecommuting, Job-Sharing, and More

On November 2, 2017, U.S. Representative Mimi Walters (R-CA) introduced the Workflex in the 21st Century Act, a bill that would amend the Employee Retirement Income Security Act of 1974 (ERISA). The legislation would allow employers to create an ERISA plan, known as a qualified flexible workplace arrangement plan, to offer employees a combination of guaranteed paid leave and increased work flexibility options.

No Standing!

This is the most recent article in our series which focuses on the impact on employers of the downward spiral and death knell of the multi-employer defined benefit plan.

On-Site Clinics: What Effect on HDHPs and HSAs?

We already know the state of health care in the United States continues to whipsaw, as an October 25th ruling demonstrates: a federal district court confirmed that the Trump Administration need not fund the Affordable Care Act (“ACA”) subsidies that offset insurance copays and deductibles for some ACA shoppers.

5 Employee Benefit Trends HR Should Have on Its Radar

With the current jobseeker-friendly market, employers are facing many challenges when tasked with recruiting, hiring and retaining the best and the brightest employees. With the rising competition for talent, an employer needs to make sure it is in the best position to attract and retain the workforce it wants and needs.

Healthcare Update (No. 4, November 2017)

It is always unpleasant for a healthcare entity or medical practice to have to sever ties with an employed physician, but it is sometimes necessary. Perhaps the physician has committed serious policy violations or lost an insurance contract, creating financial problems for the healthcare entity. Or perhaps other employees have repeatedly complained about the physician’s demeanor and the physician has refused to modify their conduct.

2018 Cost of Living Adjustments for Retirement Plans

The Internal Revenue Service recently announced its cost-of-living adjustments applicable to dollar limitations for retirement plans and Social Security generally effective for Tax Year 2018 (see IRS Notice 2017-64). Most notably, the limitation on annual salary deferrals into a 401(k) plan will increase from $18,000 to $18,500. The dollar limits are as follows:

2018 § 401(k) and Other Retirement Plan Limits Increase, Fringe Benefit Limits Adjusted

The IRS has released the 2018 cost-of-living adjustments (COLAs) to the dollar limitations on benefits and contributions to qualified retirement and deferred contribution plans, such as § 401(k) plans. It has also released the inflation-adjusted fringe benefit limitations. Employers need to know the increases in these amounts so they can reprogram their computers and payroll systems before the first payroll of the upcoming year. This will ensure that they are withholding the correct amount of taxes from the pay of employees who receive the benefits.