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 [...]
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 [...]
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 [...]
Connecticut has made significant changes to its pass-through entity tax (PET) in recent years. The most recent changes took effect in 2022. The original PET was enacted in 2018 as a way to counter the Tax Cuts and Jobs [...]
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 [...]
The Pregnant Workers Fairness Act (PWFA) is a federal law that prohibits employment discrimination on the basis of pregnancy, childbirth, or related medical conditions. The PWFA was signed into law by the White House on December 29, 2022, and [...]
As we let you know last October, the end date for the COVID-related I-9 verification flexibility was (and still is) scheduled for July 31, 2023. Given the number of times this deadline had been extended, it seemed possible, though [...]
The U.S. Department of Labor (DOL) Office of Foreign Labor Certification (OFLC) recently held webinars to guide users on upcoming changes to the Form ETA 9089. The objective of these changes is to streamline and standardize the information that [...]
On December 23, 2022, the House passed a 4,155-page funding bill, the Consolidated Appropriations Act of 2023 (“CAA-23”), that includes a two year extension on telehealth relief for high deductible health plans (“HDHPs”) offered with health savings accounts (“HSAs”). [...]
The following changes to Colorado employment law apply as of January 1, 2023. MINIMUM WAGE Statewide Colorado’s minimum wage will increase to $13.65 per hour. The minimum base wage for tipped employees will increase to $10.63 per hour. The [...]
