Employee Benefit Guidance & Compliance Solutions

Posts Tagged "January 2020"

January 2020 Newsletter

By on Jan 1, 2020 in Newsletters | 0 comments

Dear Valued Clients and Associates, Happy New Year and best wishes to you all for everything you strive for in 2020! While folks are wrapping up year end, preparing for tax deadlines and setting goals for the new year, my goal is to make your life easier. With that said, what better way to kick off the new year than with a reminder of some compliance updates for 2020! Read on for some changes to be aware of this year. Did you know PF Compass has held a 98% retention rate for over 20 years? If you’d like to learn how we can help you reach your employee benefits and compliance goals, let’s chat! Give me a call today 732-258-1032. Here is your January 2020 Newsletter with a combination of HR and Health related news. I hope you enjoy!     2020 – New Rules for Salaries and Wages By Maggie Johnson, HR Consultant As we start the new year, there are a number of changes in employment law affecting the payment of salaries and wages by New York and New Jersey employers. Here’s an overview of the new regulations. Read More Here     Upcoming Group Health Plan Compliance Dates Employers must comply with numerous reporting and disclosure requirements throughout the year in connection with their group health plans. Listed below are upcoming important compliance deadlines for employer-sponsored group health plans, organized chronologically. For these requirements, the information provided herein shows the deadlines that apply to calendar year plans. For non-calendar year plans, these deadlines will need to be adjusted to reflect each plan’s specific plan year. January 2020 Employers that filed 250 or more IRS Forms W-2 for the prior calendar year must file Forms W-2 with the Social Security Administration and furnish Forms W-2 to employees by Jan. 31 of each year, unless an extension applies. February 2020 ALEs that sponsor fully or self-insured health plans are required to report information about the coverage to the IRS each year, using IRS Forms 1094-C and 1095-C. Employers that are not ALEs use IRS Forms 1094-B and 1095-B to meet these reporting obligations. The deadline for filing paper versions of the forms is Feb. 28, 2020. The deadline...

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