Payroll Holiday Reminder: Independence Day 2024
Payroll Partners Blog
by Margie Reed
7h ago
On Thursday, July 4, we will celebrate Independence Day (“the Fourth of July”) to commemorate the adoption of the Declaration of Independence and formation of our great nation. In the midst of the fireworks and festivities, Payroll Partners would like to remind you that since Independence Day is also a banking holiday, you may need to do some additional payroll prep next week before the banking holiday. Both Payroll Partners and the Federal Reserve will be closed in observance of Independence Day.  Check dates on or after the holiday will be affected. Affected check dates include: Thursd ..read more
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What Is A PEP — And Is It Right For You?
Payroll Partners Blog
by Margie Reed
3d ago
A pooled employer plan is a defined contribution plan, like a 401(k), that multiple employers can participate in. A PEP outsources many fiduciary responsibilities along with plan management and administrative functions to a third-party pooled plan provider. PEPs were introduced via the SECURE Act of 2019. Changes to PEP participation were added in the Secure 2.0 Act of 2022. These changes allowed smaller firms to compete for talent with larger companies and their comprehensive benefits packages. When you participate in a PEP, you have three main responsibilities: To determine a plan design th ..read more
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How Does the New Ban on Non-Compete Agreements Work?
Payroll Partners Blog
by Margie Reed
4d ago
On April 23, 2024, the Federal Trade Commission (FTC) announced a new rule that essentially bans do not compete clauses. The FTC banning non competes means that companies will no longer be able to use non-compete clauses to stop workers from quitting and getting new jobs. There will only be a select number of exceptions to this rule, so it’s important for employers to review their policies before the ban goes into effect. What is a non compete agreement? More importantly, how will this ban affect your business? Read on to learn more about the ban on do not compete clauses. What Is a Non Compet ..read more
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How to State Your Stance on Substance Use
Payroll Partners Blog
by Margie Reed
5d ago
As more and more states enact various levels of cannabis protections for employees, it becomes even more important for religious employers to consider and clearly articulate their stance on substance use. While many may assume that most religious employers would hold a similar viewpoint regarding alcohol, tobacco, or cannabis use, this is far from the reality, and assumptions on the part of the applicant, employee, or employer can prove costly. NOTE: This article discusses legal substance use occurring away from the workplace. No current laws impede an employer’s ability to take steps to ensur ..read more
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9 Key Elements of an Overtime Policy
Payroll Partners Blog
by Margie Reed
1w ago
The Fair Labor Standards Act (FLSA) was originally created in 1938. Since that time, the FLSA and Department of Labor (DOL) regulations have governed the provision of overtime in the United States. In April 2024, the FLSA received a major update for the first time in years. The updated regulation has changed the minimum salary that exempt workers must be paid. Now, an overtime-exempt employee must be paid at least $58,656 per year to remain exempt. Thanks to this update, this is a good opportunity for companies to review their existing overtime policies. You can update your ..read more
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SECURE 2.0 Act changes affect how businesses complete Forms W-2
Payroll Partners Blog
by Margie Reed
1w ago
The Internal Revenue Service reminds businesses that starting in tax year 2023 changes under the SECURE 2.0 Act may affect the amounts they need to report on their Forms W-2. The SECURE 2.0 Act allows for additional features in various employer retirement plans to encourage use of these plans. The provisions potentially affecting Forms W-2 (including Forms W-2AS, W-2GU and W-2VI) are: De minimis financial incentives (Section 113 of the SECURE 2.0 Act), Roth Savings Incentive Match Plan for Employees (SIMPLE) and Roth Simplified Employee Pension (SEP) Individual Retirement Arrangements (IRAs ..read more
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9 Tips for Complying With EEOC Laws as a Small Business Owner
Payroll Partners Blog
by Margie Reed
1w ago
In a typical year, the Equal Employment Opportunity Commission (EEOC) secures over $400 million for EEO victims. As a small business owner, being involved in an EEOC case can quickly get expensive. If you become the target of an EEO complaint, an average case can easily cost you $75,000. While following EEO regulations can save your company money, it is also useful in another way. Employees who feel happy and supported at work are more productive. They are also less likely to quit. By using the top tips for complying with EEO laws, you can make your company more profitable and a bett ..read more
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Payroll Holiday Reminder: Juneteenth National Independence Day
Payroll Partners Blog
by Margie Reed
1w ago
Juneteenth National Independence Day became the 12th legal public holiday, celebrating the emancipation of the last enslaved African Americans. On that day in 1865, Union soldiers led by Gen. Gordon Granger arrived in the coastal city of Galveston, Texas to deliver General Order No. 3, officially ending slavery in the state. On Wednesday, June 19, 2023 the Federal Reserve will be closed in observance of Juneteenth National Independence Day. Although Payroll Partners will be open, check dates on or after the holiday will be affected. Affected check dates include: Wednesday, June 19 Thursday, J ..read more
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What Can I Do About Employees Forgetting To Clock In And Out?
Payroll Partners Blog
by Margie Reed
1w ago
Question:  My employees regularly forget to clock in and out for their breaks and meal periods. I’ve told them countless times, and they just forget to do it. What can I do? Answered by the HR Experts: There are a few steps you can take to help your employees remember to clock out for breaks and meal periods: Ask employees why they’re forgetting. There may be contributing factors worth addressing. You can also ask for feedback on what may not be working well with the current timekeeping procedures. Review your processes and systems to ensure they are easy to use and find. If you have a p ..read more
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Can we deduct the cost of replacing the broken items from an employee’s paycheck?
Payroll Partners Blog
by Margie Reed
1w ago
Question:  Some of our employees have been careless on the job and broken company property. Can we deduct the cost of replacing the broken items from their paychecks? Answered by the HR Experts:  Probably not. Many states have imposed significant limitations on what kinds of things employers can take a deduction for, and often the deduction also requires employee consent. In addition, most deductions that would take an employee below minimum wage would violate federal and state wage and hour laws. Further, deducting from an exempt employee’s salary in such an instance violates the sa ..read more
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