On August 12th, 2022, the Inflation Reduction Act was passed by Congress. What's included and not included in the 700+ pages of economic changes featured in the act? Read on to find out.
As waves of COVID-19 cross the country and state and local stay-at-home orders are phased in and out (and in again), employers have big decisions to make about not only when employees should return to work, but also how.
COVID-19 has heightened awareness of our health and safety like nothing else in recent memory, and it has left many to worry about the role that their surroundings play in terms of cleanliness and protection. One of the biggest fears that many are facing is the prospect of returning to work mid-COVID-19.
In a CBS News poll, 70% of respondents reported the top national priority should be to “try to slow the spread of coronavirus by keeping people home and social distancing, even if the economy is hurt in the short term.” In essence, the survey reveals a real-time conversation playing out in which many people are left speculating what the return-to-work plans will be in the coming months.
Some employers have already jumped in and called employees back to work, while some have extended work-at-home policies through the end of 2020. There is no one right answer for every employer. But if you do decide to bring employees back, or due to your industry your workplace never closed in the first place, you should be prepared to diligently implement the changing best practices to reduce workers’ exposure to COVID-19 in the coming months, or perhaps even year.
Update May 18, 2016: The new overtime rule was announced today and takes effect December 1. The threshold is $47,476 and will be updated every three years. Incentive pay like bonuses can account for up to 10% of the threshold amount.
Update November 23, 2016: A preliminary injunction issued by a federal judge has delayed the new FLSA overtime rule that was set to take effect December 1. With the delay in the rule, employers are not required to meet the rule's increased salary threshold of $47,476 for exempt status starting December 1. The rule will continue to be reviewed by the court and a final decision will be issued at a later date.
On March 14, 2014, President Barack Obama signed a memorandum, directing the U.S. Department of Labor to revise the Fair Labor Standards Act overtime protection rules. The DOL subsequently issued a proposed rule that would raise the annual salary for the overtime exemption from $23,660 to $50,440. The final rule is expected within days and the general consensus is that employers should start preparing for the change now as they may have 60 days to comply.
The fourth quarter is an important time for employers for a number of reasons. There are payroll schedule adjustments for holidays, bonus payrolls, year-end adjustments to accommodate fringe benefits, audits of employee data in preparation for W-2s, benefits plan reviews and open enrollment, and so much more. This year, adding to the usual hubbub, are executive and legislative changes for 2016, both enacted and proposed, that employers need to have on their radar now.
Topics: Employer News