New Jersey WARN Law Updates
Last week, Governor Murphy signed into law an amendment to the NJ Warn Law to go into effect on April 10, 2023. This law applies to employers with at least 100 employees working in the US, so long as the employer has operated in New Jersey for three years. Understanding updates to this law are […]
IRS Releases 2023 Mileage Reimbursement Rate
Last week, the IRS announced its optional standard mileage rate for 2023. Effective January 1, 2023, reimbursement will be 65.5 cents per mile driven, and increase of 3 cents from their 2022 mid-year update. If you reimburse employees based on the IRS mileage rate, be sure to update your rates to this new limit! If […]
IRS 2022-2023 PCORI Fee Released
The Patient-Centered Outcomes Research Institute (PCORI) Fee is a charge to all employers and plan sponsors that offer self-funded plans (including HRAs). These fees help fund research to evaluate a variety of health outcomes, treatment effectiveness, risks, and benefits of treatments and medical services. In Notice 2022-59, the IRS announced an increase in rate from […]
Best Practices for Performance Reviews
Performance reviews are traditionally daunting, intimidating, and overwhelming. It can create stress for employees as their every action is reviewed. Employers have to review all employees, and often base raises on those reviews. Worse still, performance reviews often happen around the holidays, which is already a stressful time of year. But what if performance reviews […]
2023 IRS Limits Increases
Recently, the IRS announced its cost of living adjustments for the dollar limitations on flexible spending accounts, health savings accounts, and retirement plans for the 2023 tax year. Due to the increasing inflation, many of these limits went up significantly at some of the highest rates of this century. Flexible Spending Account Increases 2022 2023 […]
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 […]
Why Consider Payroll Outsourcing?
Employers often see payroll as a simple, regular process. True if everyone is salaried, works in one state, and has no garnishments. But complex wage calculations, multi-state taxation, child support orders, levies, or various reporting requirements can quickly complicate payroll. Payroll is simple until it’s not, and that is when outsourcing makes sense. Payroll outsourcing […]
Quantify Your Investment in Your Benefits Broker
How much do you invest in your broker? This may sound like a strange question. But while commissions are paid by the insurance company, the commission level is negotiable in most products. Your premium is directly related to your employee benefits broker’s commission level, so lower commissions lead to lower premiums. Commissions are your investment […]
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 […]
Top 5 Payroll Mistakes to Avoid
Payroll, at its surface, can seem very straightforward. At its core, you record employees time and pay them the agreed rate for that time, or just pay them a salary. But if you get complacent in running payroll, it is easy to make costly errors. Here are the top 5 costly payroll mistakes that we […]
