Many employers offer company paid group life insurance to their employees. The ultimate goal? Protect the financial future of the employee’s loved ones. While this goal may sound straightforward, designating beneficiaries and ensuring that the policy pays according to an employee’s wishes is not as… [Read more]
IRS Increases Annual FSA Limit to $2,850 for 2022
The IRS announced that the annual contribution limit for health care flexible spending accounts (health FSAs) will increase to $2,850 for 2022 (from $2,750) and the maximum carryover amount will rise to $570 (from $550). Health FSAs The chart below shows the adjustment in health… [Read more]
IRS Issues 2022 Retirement and Pension Plan Limits
401(k) Contributions Employee 401(k) contribution maximums for 2022 will increase to $20,500—a $1,000 increase from the $19,500 cap for 2021 and 2020—the IRS announced on Nov. 4. Plan participants age 50 or older next year can contribute an additional $6,500, unchanged from 2021. The limit on total employer-plus-employee… [Read more]
OSHA Announces a New Emergency Temporary Standard on COVID Vaccination and Testing for Employers
Earlier this year, the Biden Administration issued a COVID-19 vaccine mandate for those employers that have at least 100 employees. On November 4, 2021, OSHA announced a new Emergency Temporary Standard on Vaccination and Testing. Click on the link for details. Here are four things… [Read more]
President Biden Orders New COVID-19 Vaccine Requirements for Employers with 100+ Employees
President Joe Biden announced Sept. 9 a series of proposals to combat the COVID-19 pandemic more aggressively, including plans for a new rule requiring employers with 100 or more employees to mandate that their workers be vaccinated or undergo weekly testing. The president also signed… [Read more]