Benefits Administration

U.S. DOL Final Overtime Rule: Major Changes Coming in July

2024-05-20T10:58:30-04:00May 17th, 2024|2024, Benefits Administration, Employee Benefits|

The U.S. Department of Labor (DOL) recently announced the finalization of its overtime rule, significantly impacting how employers classify employees as exempt from overtime pay requirements under the Fair Labor Standards Act (FLSA). This new rule takes effect in [...]

Beyond Open Enrollment: Year-Round Employee Benefits Communication for a Savvy Workforce

2024-04-02T10:03:54-04:00April 1st, 2024|2024, Benefits Administration, Employee Benefits|

The annual open enrollment scramble is a familiar scene for many HR professionals. But what if there was a better way? Recent trends point toward a shift in employee benefits communication, moving away from a one-size-fits-all approach and [...]

IRS Raises Retirement Savings Limits for 2024

2023-12-19T15:57:20-05:00November 2nd, 2023|2023, Benefits Administration, Employee Benefits, Employee Benefits Legislation, Legislative News, Retirement Plan|

The IRS has released its annual guidance on inflation adjustments for retirement provisions in 2024. The key updates include: For 401(k) and similar defined contribution plans, the contribution limit for participating employees will rise to $23,000 from $22,500. The [...]

Labor Update: Labor Department Proposes New Overtime Salary Threshold

2023-10-05T13:13:00-04:00October 2nd, 2023|2023, Benefits Administration, Employee Benefits, Employee Benefits Legislation, Labor News, Legislative News|

On August 30, the White House proposed a rule through the Department of Labor to extend overtime pay eligibility to an additional 3 million workers. This move echoes an attempt by the Obama administration eight years prior to modify [...]

Navigating Employee Benefits in the Automotive Industry

2023-12-19T15:57:37-05:00October 1st, 2023|2023, Benefits Administration, Employee Benefits, Employee Benefits Legislation|

The automotive industry encompasses a diverse workforce that requires a specialized approach to employee benefits. NARFA, with its longstanding history and expertise, stands as an invaluable ally for businesses navigating the complexities of employee benefits. The Challenge of Diverse [...]

IRS Update: IRS Announces Two-Year Delay of SECURE 2.0 Act’s Roth Catch-Up Requirement

2024-05-13T13:08:13-04:00August 31st, 2023|2023, Benefits Administration, Employee Benefits Compliance, Employee Benefits Legislation, Legislative News, Retirement Plan|

The IRS has announced a two-year delay of the SECURE 2.0 Act's Roth catch-up requirement, which was set to take effect on January 1, 2024. This means that higher-income employees who are currently eligible to make catch-up contributions to [...]

Fleet Trade Associations: Why They Matter More Than Ever

2023-10-05T13:13:06-04:00August 14th, 2023|2023, Benefits Administration, Employee Benefits, Employee Benefits Compliance, Fleet Industry|

Fleet trade associations, such as the National Automotive, Roads, Fuel Association (NARFA) are organizations that represent the interests of fleet owners and operators. They provide a variety of services to their members, including: Industry research and analysis: Fleet trade associations [...]

The Comprehensive Guide to Trade Associations

2024-05-13T13:09:11-04:00August 1st, 2023|2023, Benefits Administration, Employee Benefits, Employee Benefits Legislation, Legislative News, Retirement Plan|

Trade associations play a pivotal role in strengthening industry sectors by uniting companies around common goals and interests. For businesses in the automotive, roads, and fuel sectors, NARFA stands as an example of how a trade association can be [...]

Colorado Labor Updates: Sick Leave, Discrimination, Harassment, and Recordkeeping

2023-10-05T13:13:07-04:00July 31st, 2023|2023, Benefits Administration, Colorado News, Employee Benefits, Employee Benefits Compliance, Employee Benefits Legislation, Labor News|

The following changes to Colorado employment law apply to employers of all sizes. While our math indicates that these laws take effect August 8, the state legislature’s website says they are effective August 7, 2023. PAID SICK LEAVE USES [...]

Benefits Administration: What is COBRA?

2023-10-05T13:13:09-04:00July 3rd, 2023|2023, Benefits Administration, Employee Benefits, Human Resources|

COBRA is short for the Consolidated Omnibus Budget Reconciliation Act of 1985. It’s a federal law that allows certain employees and covered dependents to elect to continue their same group health coverage, at their own cost, when it would [...]