On December 29, 2022, the Securing a Strong Retirement Act of 2022 (SECURE Act 2.0) was signed into law. This new legislation intends to provide American employees with increased access to retirement plans and savings while creating new incentives to expand employer and employee retirement contributions. As an employer, here are the key SECURE Act… Read more »
Each year, the Internal Revenue Service (IRS) evaluates the contribution limits for tax-advantaged savings plans. Increased cost of living, as measured by inflation, is the key factor in determining whether contribution limits will increase. With the inflation rate at 8.2% in the prior 12 months that ended September 2022, it’s no surprise that annual contributions… Read more »
As you prepare for 2023, please note the important changes to MA PFML effective on January 1, 2023. New Maximum Weekly Benefit Rate – Increased from 2022: For 2023, this maximum benefit amount is $1,129.82 (up from $1,084.31 in 2022). This is adjusted annually based on the State Average Weekly Wage. New Contribution Rates for… Read more »
Many employers are starting to see a growing request for leaves of absences, requiring them to navigate the often complex details of a number of different types of leaves. The introduction of Paid Family and Medical Leave plans and other state leaves has mandated new regulations and added procedures that can complicate traditional leaves. Many… Read more »
Stress is everywhere! Anxiety is everywhere. Stress and anxiety are everywhere! You may have felt stress or anxiety reading these first three sentences! Stress is generally one’s response to external stimuli or threats that goes away when the situation or stimuli or threat is resolved. Anxiety is generally one’s internal reaction to stress and often… Read more »
It’s a good practice for employees to review certain personal and benefits information annually and, for a variety of reasons, it makes sense to look at it in the fall. Employers that encourage this annual review process experience fewer employee change requests a little too late, ultimately saving managers and employees time and avoidable frustration…. Read more »
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