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Compensation & Benefits

Measure productivity loss when tallying health costs

01/13/2025
The costliest illnesses to insure aren’t necessarily the ones that take the biggest chunk out of your bottom line. When measuring how much money your organization sinks into employee health, don’t stop once you’ve calculated your share of employees’ insurance premiums.

The next wave of talent: Gen Z’s workplace priorities

01/08/2025
The latest generation entering the workforce isn’t just looking for a paycheck—they’re seeking comprehensive benefits packages that prioritize education and long-term financial security.

February 2025: Employer’s business tax calendar

12/31/2024
Here’s your monthly guide to critical payroll due dates.

What 2025’s salary budgets mean for your organization

12/23/2024
The days of dramatic salary budget increases may be behind us, but don’t expect a return to pre-pandemic norms just yet. Recent data from WTW’s Salary Budget Planning Report reveals that U.S. companies are maintaining their salary-increase budgets at elevated levels, with projections hovering at 3.7% for 2025—just a slight dip from 2024’s 3.8%.

More flexibility for 401(k) matching funds? IRS open to applying them to other expenses

12/18/2024
For many employees, access to an employer-sponsored 401(k) retirement plan is one of the most highly prized benefits. Employers often match employee contributions up to a certain percentage of an employee’s annual salary, essentially doubling that employee’s contribution towards retirement. But younger employees tend to leave some of that free money on the table because they can’t afford to contribute their share.

How to handle 401(k) excess deferrals like a pro

12/18/2024
Employees are often advised to max out their 401(k) contributions up to the annual pretax limit ($23,500 for 2025). But contributing too much can have an unintended side effect: Your plan can be disqualified. The IRS has posted an issue snapshot for its 401(k) plan auditors on excess deferrals. You can use it to ensure excess deferrals are corrected expeditiously.

In the Payroll Mailbag: January ’25

12/18/2024
Employee or independent contractor? … Gift boxes of pricey food: Taxable or not?

IRS can do better with scanning payroll returns

12/18/2024
Many employers continue to file their Forms 941 and 940 on paper because the IRS’ e-filing system is cumbersome and expensive. Paper forms are prone to transcription errors, as IRS personnel manually input your figures into computers. In a recent report, the Treasury Inspector General for Tax Administration concluded the IRS needs to do a better job of scanning tax returns.

Jan. 31 is Have Fun at Work Day (only joking)

12/18/2024
Year-end isn’t a barrel of laughs. But cheer up! There is light at the end of this tunnel if you check off these final items from your to-do list by Jan. 31.

Raise your paw if you’re on board with this new benefit

12/16/2024
The New York City Council is considering legislation that would allow employees who work in the city to take paid leave to care for their sick or injured pets.