Increase in California’s Minimum Wage

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On January 1, 2017, the California minimum wage for employers with 26 or more employees will increase from $10.00 to $10.50 per hour. During 2017 the minimum wage for employers with 25 or fewer employees will remain $10.00 per hour. On January 1, 2017, the minimum salary for exempt employees who work for employers with 26 or more employees is increasing from $41,600 to $4...
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Department of Labor’s Overtime Rule Delayed

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A Federal judge in Texas granted a nationwide preliminary injunction halting the implementation of the new Department of Labor rule extending overtime pay to millions of Americans. Under the new law, as of December 1, 2016, employees classified as exempt would be required to be compensated at $47,476 annually in order to qualify for exemption from overtime, nearly double the ol...
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2016 Furnishing Deadline for ACA Reporting Delayed

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On November 18, 2016, the Internal Revenue Service (IRS) issued Notice 2016-70 to: Extend the due date for furnishing forms to individuals under Sections 6055 and 6056 for 2016 for 30 days, from January 31, 2017, to March 2, 2017. Extend good-faith transition relief from penalties related to 2016 information reporting under Sections 6055 and 6056. Notice 2016-7...
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Overtime Rule to Take Effect – December 1, 2016

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A Department of Labor (DOL) final rule is set to increase the salary threshold for the “white collar overtime exemptions" to $47,476 per year. Recent challenges to the rule have left some questioning whether it will take effect on Dec. 1, 2016, as scheduled. The U.S. House of Representatives passed H.R. 6094, which would delay implementation of the final rule. The bi...
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Updated I-9 Form Released

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On November 14, 2016, U.S. Citizenship and Immigration Services (USCIS), part of the U.S. Department of Homeland Security, issued an updated version of Form I-9: Employment Eligibility Verification (I-9 Form). Under federal law, every employer that recruits, refers for a fee, or hires an individual for employment in the United States must complete an I-9 Form. The up...
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IRS Releases Final ACA Reporting Forms for 2016

The Internal Revenue Service (IRS) has released final 2016 forms for reporting under Internal Revenue Code Sections 6055 and 6056. The Affordable Care Act (ACA) requires Applicable Large Employers (ALEs) to report to the IRS on offers of medical coverage made to full-time employees. The ACA also requires employers of all sizes that sponsor self-funded health plans to re...
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July 1st Increases to California Local Wages

Effective July 1, 2016, some California employers will be subject to an increase in the local minimum wage. Minimum Wage Increases for San Francisco and Bay Area Cities As part of Proposition J, signed in 2014, the City of San Francisco will incrementally increase its minimum wage each year until it reaches $15.00 an hour in 2018. This year’s increase will take effect on July...
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“Pay or Play” Employer Mandate Delayed until 2015

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Important news was announced yesterday afternoon by the U.S. Treasury Department regarding the ACA (Affordable Care Act) employer mandate known as "Pay or Play". The U.S. Treasury Department announced the 2014 mandate on large employers, those with 5o or more full-time equivalent employees, to offer qualifying health insurance coverage to their employees or face a penalty is...
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Is early renewal right for your group health plan?

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In a continued effort to keep employer groups informed regarding health care reform, Parelius Insurance has been researching the option of early renewal for health plans.  Beginning January 1, 2014, the Patient Protection and Affordable Care Act (PPACA) will change the types of small group plans offered and how premiums are calculated.  Group rates will no longer be based on cl...
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ERISA – Employee Retirement Income Security Act

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A quick overview of ERISA: Company size does not matter; all companies regardless of size are subject to ERISA guidelines. ERISA is a set of DOL (Department of Labor) guidelines that regulate employer sponsored 'health and welfare' benefit plans. Government and Church employers are exempt from ERISA guidelines (must have 501-exempt status, may not elect IRC Section 410 ...
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