’Tis the season for celebrating the holidays! Globally, offices and plants are closing their doors for a couple of days to a few weeks. While most people are finalizing their last-minute shopping and preparing for a (hopefully) fun and relaxing holiday season at home, there are just as many people traveling for the holidays. Foreign …
Minimum Wage Set to Rise in 25 States and D.C. in 2020
As the New Year approaches, employers throughout the United States must prepare for new legislation taking effect that may impact their operations. One critical change that commonly occurs around the New Year is an increase to the minimum wage. On January 1, 2020 (or December 31, 2019), the minimum wage will rise in 21 states. …
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IRS Publishes 2019 Required Amendment List for Individually-Designed Retirement Plans
The IRS recently issued its “Required Amendment List,” which contains the annual list of amendments that must be adopted by certain individually-designed retirement plans. This year, the List includes the requirements imposed by the final hardship distribution regulations, and certain rules that apply to collectively-bargained cash balance / hybrid defined benefit plans. Sponsors of individually-designed …