Jan 6, 2020 | Benefits, Human Resources, Regulatory Updates
The Internal Revenue Service issued the 2020 optional standard mileage rates (PDF) used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. As of January 1, 2020, the standard mileage rates for the use of...
Jan 3, 2020 | Benefits, Human Resources, Regulatory Updates
Effective January 1, 2020, twenty states increased their minimum wages as follows: State New Minimum Wage Alaska $10.19 Arizona $12.00 Arkansas $10.00 California $13.00 Colorado $12.00 Florida $8.56 Maine $12.00 Maryland $11.00 Massachusetts $12.75 Michigan...
Jan 2, 2020 | Benefits, Human Resources, Regulatory Updates
Periods of growth are particularly exciting for small and midsize businesses, but they also bring new HR challenges. Along with adding employees— which may change the feel of your culture as well as your floorplan — your organization may become subject to federal and...
Dec 30, 2019 | Benefits, Regulatory Updates
A final rule from the U.S. Department of Labor, effective January 15, 2020, will allow employers to more easily offer perks and benefits to their employees. The previous regulatory landscape left employers uncertain about the role that perks and benefits play when...
Dec 12, 2019 | Industry News, Regulatory Updates, Retirement Services
The Internal Revenue Service announced that employees in 401(k) plans will be able to contribute up to $19,500 in 2020. In addition, dollar limitations for pension plans and other retirement-related items for tax year 2020 were announced. Highlights of changes for...
Aug 8, 2019 | Industry News, Regulatory Updates
On May 28, 2019, the IRS released Revenue Procedure 2019-25 to announce the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2020.  Here’s a breakdown of these increases. Annual Contribution Limits for 2020 For...
