Changes to 401(k) Contribution Limits for 2020

Changes to 401(k) Contribution Limits for 2020

January 13th, 2020 10:48 am
401(k) contribution limits

Every year, the IRS takes a fresh look at 401(k) contribution limits and makes changes as necessary. Below are some of the more significant changes for 2020: Contribution limits for employees who participate in 401(k) plans, 403(b) plans, most 457 plans and the federal government’s Thrift Savings Plan are increasing to $19,500 from $19,000. The catch-up […]

Can Employees Discuss Their Salaries at Work?

December 16th, 2019 7:52 am

Can Employees Discuss Their Salaries at Work? To prevent this outcome, you might consider developing a policy that prohibits employees from discussing their pay with their co-workers. But before you do that, remember that you may run afoul of federal law.

Should I Offer Commuter Benefits?

September 6th, 2019 9:20 am

Commuter benefits are fringe benefits that allow employees to set aside pretax money to pay for work-related transportation costs. Generally, for employees to use the benefit, their employer must set up a commuter, or transportation, benefits plan that meets the requirements of Section 132(f) of the Internal Revenue Code.

Top Employee Benefit Trends

July 13th, 2019 2:24 pm

Smart companies are always taking a fresh look at the employee benefits they’re offering. Here is what employee perks are trending – and what you might want to consider adding to your company’s benefits package. Employee benefit: Student loan assistance  According to the Federal Reserve, Americans currently owe $1.5 trillion in student loans — the […]

Key Rules for Wage Garnishments: Lump-Sum Payments

June 16th, 2019 11:29 am

In 2018, the Department of Labor issued an opinion letter in response to a query regarding whether certain lump-sum payments are considered earnings under Title III of the Consumer Credit Protection Act, which limits the amount an employer can deduct from an employee’s wages for child and alimony support plus other wage garnishments. The CCPA […]