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Compensation & Benefits

The new OT rule: What employers should do now

04/29/2024
The new rule will force employers to undertake a detailed analysis of how they classify white-collar employees and how much they pay them. Here are the steps you should follow.

6 in 10 employers offer paid parental leave

04/29/2024
Sixty-two percent of employers offer some form of paid parental leave, according to a survey by the International Foundation of Employee Benefit Plans.

Final overtime rule: OT salary threshold to hit $58,656 on Jan. 1, with interim hike to $43,888 on July 1

04/23/2024
Exempt employees earning less than $58,656 per year on Jan. 1, 2025, will be entitled to overtime pay when they work more than 40 hours in a workweek under a long-awaited final rule issued April 23 by the Department of Labor.

HSA enrollees use fewer outpatient services, prescription drugs

04/22/2024
Health Savings Accounts play a role in changing the way employees use health-care services. A new analysis by the Employee Benefit Research Institute found that employees enrolled in HSAs reduce their use of outpatient services and prescription drugs and increase their use of inpatient services.

IRS welcomes a new de minimis fringe benefit: Work/life referral services

04/18/2024
Work/life balance means different things to different employees, but all employees say they want it and many employers are already providing some version of it. Rather than let you wander around in a payroll tax netherworld, the IRS has issued a fact sheet that covers the work/life referral services you may offer to employees as a tax-free de minimis fringe benefit.

As requests for leave surge, HR is pressured to respond

04/17/2024
Since the pandemic, employees increasingly expect access to generous leave benefits, and employers are responding. AbsenceSoft’s 2024 Leave of Absence and Workplace Accommodations Forecast revealed these trends.

Two new steps free 401(k) plans from terminated employees

04/17/2024
Two provisions of SECURE 2.0 allow you to clean up your 401(k) plan administration for employees who terminate and leave their 401(k) assets behind. One raises the mandatory cash-out amount and the other allows you to turn over the entire cash-out process to a clearinghouse for employees you can’t locate.

In the Payroll Mailbag: May ’24

04/17/2024
Can we reimburse $10,000 for an employee’s master’s degree? … Are charges to the company credit card taxable?

Withholding window for NSO cashouts to get shorter

04/17/2024
Employees who cash out nonstatutory stock options are taxed on the difference between the stock’s price when the NSOs were granted and the price when the NSOs were exercised.

Warm thoughts and flip-flops: Plan for summer pay problems

04/17/2024
Before you start daydreaming about the former and wearing the latter, you need to consider how the onset of summer affects your payroll operations. Here are the key wage-and-hour rules you need to know.