Employee Benefit Guidance & Compliance Solutions

Posts Tagged "March 2020"

March 2020 Newsletter

By on Mar 1, 2020 in Newsletters | 0 comments

Dear Valued Clients and Associates, The Spring Equinox is March 19; a time of renewal, it is the day of the year that light and dark are balanced. Symbolizing a time of regrowth and rebirth, it is a great time of year to regroup and re-prioritize! From spring cleaning to religious ceremonies and rituals, how do you welcome the longer, warmer days to come? Would you like to discuss your company’s group insurance options? Interested in assistance navigating the available employee benefits options? We have been working with businesses for over 20 years and hold a 98% retention rate! 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 March 2020 Newsletter with a combination of HR and Health related news. I hope you enjoy!     Coronavirus Prompts More Companies to Encourage Telework shrm.org Reduce exposure to community settings Businesses in the U.S. should plan for “social distancing,” such as canceling meetings and conferences and arranging for employees to work from home, according to health officials. To read more, click here     DOL Increases Civil Penalty Amounts for 2020 The Department of Labor (DOL) recently released its 2020 inflation-adjusted civil monetary penalties that may be assessed on employers for violations of a wide range of federal laws, including: The Fair Labor Standards Act (FLSA); The Employee Retirement Income Security Act (ERISA); The Family and Medical Leave Act (FMLA); and The Occupational Safety and Health Act (OSH Act). To maintain their deterrent effect, the DOL is required to adjust these penalties for inflation no later than Jan. 15 of each year. Key penalty increases include the following: The maximum penalty for violations of federal minimum wage or overtime requirements increases from $2,014 to $2,050 per violation. The maximum penalty for failing to file a Form 5500 for an employee benefit plan increases from $2,194 to $2,233 per day. The maximum penalty for violations of the poster requirement under the FMLA increases from $173 to $176 per each offense. Employers should become familiar with the new penalty amounts and review their pay practices, benefit plan administration and safety protocols to ensure...

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