As a 401(k) plan sponsor, it is easy to become overwhelmed with all of your responsibilities that comes with it – educating employees, staying compliant with regulations, following plan terms, handling participant contributions and much more. With the help of some automation you can ease some of this burden by integrating your payroll and 401(k) […]
The U.S. Department of Labor (DOL) announced it has increased the civil monetary penalties for violating federal minimum wage, overtime, posting and safety requirements. These increases come as a result of the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015, in which federal agencies must issue regulations annually to adjust for inflation of […]
The Setting Every Community Up for Retirement Enhancement Act, better known as the SECURE Act, was signed into law at the end of December to help more Americans prepare and plan for greater financial security during their retirement years. Here are some highlights of the main provisions impact on retirement plans: Tax Credit Increased: The […]
The Department of Labor (DOL) has issued a final rule to revise and update its regulations under the Fair Labor Standards Act (FLSA) aimed at clarifying when a worker, including those outsourced, are employed by more than one company. The final rule, set to take effect Mar. 16, 2020, created a four-part test to determine […]
The Internal Revenue Service (IRS) extended the deadline for furnishing 2019 Forms 1095-B and 1095C to its employees from Jan. 31 to March 2. Every year since the Affordable Care Act (ACA) requirement went into effect, the due date has been delayed due to a substantial number of employers, insurers and other providers of health […]
The Department of Labor (DOL) has provided employers with some much needed clarity on the perks that are to be included in workers’ “regular rate of pay” in the final release of a new rule set to take effect Jan. 15, 2020. Under the Fair Labor Standards Act (FLSA), employers must pay workers at least […]
It’s a new year and we’re excited about debuting a new look and a new name! Effective January 1, 2020, Data Management Payroll Services is now known as DM Payroll Solutions. Don’t worry, we’re still the same company – just refreshing our aesthetics to evolve with the times and reflect Doeren Mayhew’s brand configuration, our long-term CPA […]
The Social Security Administration (SSA) recently announced starting Jan. 1, 2020 the maximum earning subject to payroll tax will increase by $4,800 to $137,700 – up from $132,900 in 2019. The SSA fact sheet summarizes all the 2020 changes, however here are some of the quick highlights: The maximum Social Security tax employees and employers […]
Managing the process of employee benefits administration can be cumbersome, and done via paper forms, extremely overwhelming for most HR departments to handle. That is why many companies today are turning to online solutions that have workflows to reduce the paper shuffling, account for updated regulations and make the whole process more efficient and enjoyable […]
The Department of Labor (DOL) has proposed a rule that would implement changes to the tip credit under the Fair Labor Standards Act (FLSA). The FLSA requires covered employers to pay employees at least the federal minimum wage, which is currently $7.25 per hour. Employers are allowed to count a limited amount of the tips […]
