The Vision Council reported that more than 70% of Americans don’t know—or don’t believe—that they could suffer from eye strain.06 Nov The Catch-Up Payment Provision for Overtime Exempt Employees
The U.S. Department of Labor’s (DOL) final rule on defining and delimiting the exemptions for executive, administrative, professional, outside sales and computer employees (EAP employees) became effective Jan. 1, 2020. Among other things, the final rule updated the standard salary level employees must satisfy to qualify for an overtime exemption.
The final rule also allows employers to use nondiscretionary bonuses and incentive payments (including commissions) to satisfy up to 10% of the standard salary level if these payments are made at least on an annual basis.
To enable compliance with the nondiscretionary bonus option, the final rule allows employers to make a “catch-up” payment at the end of each 52-week period. This Compliance Overview explains how this provision can be used. 06 Nov 5 Ways to Manage Poor Workplace Performance Among Remote Workers
A successful business is all about accountability. Each worker’s individual contributions build on one another and culminate into something greater, to the benefit of the company and its customers.
Conversely, when some individuals struggle with their performance, the entire organization can suffer.
Unfortunately, addressing poor performance isn’t always easy. This is especially true amid the COVID- 19 pandemic, as remote working often makes accountability more complicated. This article offers five tips to help employers manage poor performance in the workplace, even while everyone is working from home. 03 Nov Trends at a Glance: Prescription Drug Plans
Always mindful of the exponential increases in prescription drug costs, particularly for chronic conditions and specialty care, employers and carriers alike continue to seek ways to mitigate these costs in order to hold premiums in line.
Data within this Trend at a Glance is based on the 2020 UBA Health Plan Survey and are based on responses from 11,788 employers sponsoring 21,980 health plans covering 1,366,186 employees nationwide. Reseco Insurance Advisors is a member of United Benefit Advisors (UBA) and by using this data, we can help employers more accurately evaluate costs, contrast the current benefit plan’s effectiveness against competitors’ plans, and adjust accordingly. This gives employers a distinct competitive edge in negotiating rates—and recruiting and retaining a superior workforce.
30 Oct 10.30.20 – Weekly Summary
Many employee benefits are subject to annual dollar limits that are periodically updated for inflation by the IRS. The following commonly offered employee benefits are subject to these limits:
The IRS has released Revenue Procedure 2020-45, which includes cost-of-living adjustments for employee qualified transportation fringe benefits for the 2021 taxable year, along with annually adjusted numbers for 2021 for a number of other tax provisions.
While any workers’ compensation claims can result in costly ramifications for your organization, one category of claim in particular—known as a “mega claim”—has the potential to carry significant consequences.