Related to: Employee Benefits Law
Late yesterday, the Internal Revenue Service issued most of the adjusted retirement plan limitations for 2022. As expected, most of the limits will be increased from 2021: Elective Deferral Limit: $20,500 (increased from $19,500 in 2021) Catch-Up Contributions: $6,500 (unchanged from 2021) 415 (Total) Plan Limit: $61,000 (increased from $58,000 in 2021) Compensation Limit: $305,000…
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*On May 5, 2021 the Department of Labor issued a new Final Rule that withdrew this Rule. The Rule was never made effective before it was withdrawn. This withdrawal was expected with the change in administration. Employers should continue to rely on the previous “totality of the circumstances” economic realities test that has been used…
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Throughout the COVID-19 pandemic, the Equal Employment Opportunity Commission (EEOC) has continued to provide guidance for employers regarding how to handle various workplace situations. The EEOC updated its technical assistance questions and answers on December 16, 2020 to address concerns related to COVID-19 vaccinations that have recently become available. One of the first questions employers…
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Starting on November 2, 2020, Wisconsin employers must notify employees of the availability of Unemployment Insurance (UI) at the time of separation of employment. Separation of employment can include termination for misconduct, layoffs, and furloughs. This notice, however, does not guarantee that an employee will be eligible to receive UI Benefits, but requires the employer…
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Earlier this morning, the Internal Revenue Service issued various retirement plan limitations for 2021. Some of the most important limits remain unchanged from 2020: Elective Deferral Limit: $19,500 (unchanged from 2020) Catch-Up Contributions: $6,500 (unchanged from 2020) 415 (Total) Plan Limit: $58,000 (increased from $57,000 in 2020) Compensation Limit: $290,000 (increased from $285,000 in 2020)…
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Earlier this week, the Internal Revenue Service issued the various retirement benefit plan limitations for 2019. There are changes to some of the most important numbers from 2018: Elective Deferral Limit $19,000 Catch-Up Contributions $6,000 415 (Total) Plan Limit $56,000 Compensation Limit $280,000 The attached chart shows the historical limits from 2015 through 2019,…
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Earlier this week, the Internal Revenue Service issued the various retirement plan limitations for 2018. There are changes to some of the most important numbers from 2017: Elective Deferral Limit $18,500 Catch-Up Contributions $6,000 415 (Total) Plan Limit $55,000 Compensation Limit $275,000 See an up-to-date chart that shows the historical limits from 2014 through 2018,…
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October 28, 2016 Earlier this week, the Internal Revenue Service issued the various retirement plan limitations for 2017. There are only a few changes to the most important numbers from 2016, including: Elective Deferral Limit $18,000 Catch-Up Contributions $6,000 415 (Total) Plan Limit $54,000 Compensation Limit $270,000 See an up-to-date chart that shows the historical limits…
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A federal district court in Wisconsin recently dismissed one of the U.S. Equal Employment Opportunity Commission’s (“EEOC”) well-publicized attacks on employer wellness programs. Our earlier legal updates regarding this case and some other EEOC challenges can be found here: August 2014 Legal Update and October 2014 Legal Update. In EEOC v. Flambeau, Inc., No. 14-cv-638…
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Although many employers have already taken steps to satisfy their reporting obligations under the Affordable Care Act (“ACA”), the IRS recently announced several important changes that delay the ACA reporting deadlines and also answer some questions that affect employers that offer employees cash for opting out of health care coverage. As explained below, employers that…
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