May 2024

State Updates

 

The Secure Act of 2022 – Impact to Long-Term Part-Time Employees

07/06/23

When the Consolidated Appropriations Act of 2023 was signed into law late last year, it included a number of provisions affecting retirement savings plans. These provisions, collectively referred to as SECURE 2.0, offer many new benefits to employers and employees that are designed to make it more attractive for employers to offer retirement plans and to improve retirement outcomes for employees.  The focus of this update is on provisions affecting long-term part-time employees’ eligibility to participate in 401(k) and 403(b) plans.   Under SECURE 1.0, long-term part-time employees could participate in 401(k) retirement plans if they completed 1,000 hours of service within one year or 500 hours in each of three consecutive years for the 2024 plan year.   SECURE 2.0 changes the eligibility requirements to be considered a long-term, part-time employee from three consecutive years to two consecutive years for employees hired in 2023 or later.  SECURE 2.0 applies to 401(k) and 403(b) plans.
Sunday, July 2, 2023/Author: ADP Admin/Number of views (2413)/Comments (0)/
Categories: Compliance Corner Federal Compliance Update
Tags: 07/06/23

Long COVID and Guidelines for Providing Reasonable Accommodations

07/06/23

Some people who have been infected with the virus that causes COVID-19 experience long-term effects from their infection. This is known as Long COVID, which can include a wide range of ongoing health problems that can last for weeks, months or years. 

Under the federal Americans with Disabilities Act (ADA), employers with 15 or more employees must provide reasonable accommodations to individuals with a disability, unless doing so would impose an undue hardship on the employer.  
Sunday, July 2, 2023/Author: ADP Admin/Number of views (2319)/Comments (0)/
Categories: Bulletin News
Tags: 07/06/23

Minimum Wage changes effective July 1, 2023

07/06/23

The following chart shows the current minimum wage for non-tipped and tipped employees and the increase effective July 1, 2023. Rates listed in black were enacted by federal, state, district, territory, or commonwealth law. Rates listed in red were enacted by city or county ordinance. It is important to note that minimum wages that may be paid to individuals under a certain age (e.g., youth wage), to employees during a “training” period, or to employees working for a non-profit are not reflected.
Friday, June 30, 2023/Author: ADP Admin/Number of views (3073)/Comments (0)/
Categories: Bulletin News
Tags: 07/06/23
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Recent State Updates

 

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