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Compensation & Benefits

Defined-benefit plans make a modest comeback

12/19/2023
Since defined-contribution retirement accounts like 401(k) plans were created in 1978, they have become by far the most common kinds of employer-sponsored retirement benefits, almost completely replacing traditional defined-benefit pensions.

Friday wrap: 2024 standard mileage rate, a new tax form, know your spouse and more

12/15/2023
2024 mileage rate, joint-employer rule, default letters and more as we crawl toward year-end.

Beware unintended consequences of unlimited PTO

12/15/2023
Unlimited paid time off is an increasingly popular benefit that employees value—and that employers hope will help them recruit and retain workers. Properly implemented, an unlimited-PTO program appeals to a new breed of workers who prize work/life flexibility and believe they can accomplish their work duties without micromanagement and restrictive rules dictating when they must work. But before you jump on the unlimited-PTO bandwagon, consider a few unintended consequences.

House Republicans condemn overtime rule

12/11/2023
The title was a tip-off. When the U.S. House Subcommittee on Workforce Protections met to address the Department of Labor’s proposed overtime rule, the Nov. 29 hearing was titled “Bad for Business: DOL’s Proposed Overtime Rule.”

New OT rule to be finalized in April

12/11/2023
If enacted, the rule would raise the white-collar overtime salary threshold to $55,068 per year, up from the current level of $35,568. An April 1 date for publishing the final rule would push back implementation until June at the earliest.

Wage & hour: Heed DOL’s $12 million warning to the hospitality industry

12/11/2023
The Department of Labor has been targeting restaurants and other hospitality-industry employers for aggressive enforcement of the Fair Labor Standards Act. It has issued fines and penalties and ordered restaurants to shut down until they pay up. That’s a powerful incentive for employers to settle lawsuits.

I want an Oompa-Loompa now! Workplace version

12/11/2023
Twenty-seven percent of employees recently polled by gift-card purveyor Blackhawk Network said they would consider leaving their jobs if they didn’t receive a holiday gift this year.

Employer survey: 4% pay raises projected in 2024

12/08/2023
Though down from the actual average increase of 4.4% in 2023, wage projections remain well above the recent trendline. Since 2014, salary budgets have grown an average of 3% per year.

SECURE 2.0 challenges, part 5: Long-term part-time employee regs

12/04/2023
While you were busy deciding what to do with your Thanksgiving leftovers, the IRS was busy releasing an almost indigestible set of proposed regulations on long-term part-time employees’ participation in your 401(k) plan. You may rely on these regs until the IRS issues final regs.

ADA: Unpaid leave can be reasonable accommodation

12/04/2023
The ADA requires employers and disabled employees to engage in an “interactive process” to explore possible accommodations that will enable the employee to perform a job’s essential functions. Then, the employer can pick the reasonable accommodation it prefers. But what if the employer chooses to place the employee on unpaid leave until a temporary flare-up of a disabling condition subsides?