NJ Temporary Disability and Family Leave 2023 Rate Annoucements
Today, the NJ Department of Labor and Workforce Development (LWD) announced the 2023 rates for Temporary Disability Insurance (TDI) and Family Leave Insurance (FLI), with shocking changes. Effective in 2023, TDI will become a 100% employer funded program. The previous 0.14% employee contribution from 2022 will now be 0.00%. Conversely, FLI will continue to be […]
Wage Transparency Laws and Compliance
Many states including New York, New Jersey, and Connecticut have strict laws regarding pay during the hiring process. The goal is to minimize the likelihood of pay discrimination beyond the rules set on a federal level. It is essential that all employers and interviewers are aware of these wage transparency laws to ensure they are […]
Employee Paid Sick and Family Leave Compliance
Within the last three years, New Jersey has enacted both Employee Paid Sick Leave and Family Leave Insurance. If you have not included these in your employee handbooks, now is the time as these are highly influential labor laws that every employer in New Jersey should be ensure they comply with. Here is what you […]
IRS Releases 2023 HSA Index Figures
IRS releases 2023 Health Savings Account (HSA) index figures and the maximum amount that may be made newly available for the plan year in an excepted Health Reimbursement Arrangement (HRA). The Internal Revenue Service (IRS) recently released the new HSA index figures for 2023 and additional guidance on the tax treatment of dependent care benefits. […]
IRS Announces Changes to Retirement Plans for 2022
Next year taxpayers can put an extra $1,000 into their 401(k) plans. The IRS recently announced that the 2022 contribution limit for 401(k) plans will increase to $20,500. The agency also announced cost‑of‑living adjustments that may affect pension plan and other retirement-related savings next year. Highlights of Changes to Retirement Plans for 2022 The contribution […]
IRS Announces 2022 Limits for HSAs and High-Deductible Health Plans
Health savings account (HSA) contribution limits for 2022 are going up $50 for self-only coverage and $100 for family coverage, the IRS announced May 10, giving employers that sponsor high-deductible health plans (HDHPs) plenty of time to prepare for open enrollment season later this year. The annual inflation-adjusted limit on HSA contributions will be $3,650 for […]
