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But wage-and-hour compliance should be top of mind since errors can result in significant penalties and heft litigation costs. ” As such, legal experts advise employers to consult with counsel in examining current exempt classifications or determining application of future ones.

Gallagher found one-third of employers don’t measure or aren’t sure of the impact of their well-being programs.

Among those with retirement savings in the Northwestern study, 25% told the financial and insurance company what they have put aside is equal to just one year or less of their current annual income.

For example, when a plan fails ADP testing, one common correction method is to reclassify excess HCE deferrals as catch-up contributions.

One consequence of skyrocketing health insurance costs will be a shift from preferred provider organization (PPO) and low-deductible plans to high-deductible plans.

Using the CE Method This classic methodology sends identical information (such as a resume) into a system but changes just one variable (e.g., gender, name, zip code, etc.) to observe different outcomes.

One powerful change management message point is to “commit to the money and not the mechanics.”

If approved, the rule would formally rescind the Biden administration’s 2024 independent contractor rule and replace it with a framework that resembles one adopted by the DOL in 2021 during the first Trump administration.

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