New York issues guidance on new Paid Family Leave Program

The New York Department of Taxation and Finance has issued a notice discussing the personal income tax implications of the state’s new paid family leave program. The notice provides the following specific guidance: benefits paid to employees will be taxable non-wage income that must be included in federal gross income; taxes will not automatically be […]

U.S. workers poised to spend an average of $5,200 in health care costs in 2018

Recent upticks in medical inflation, coupled with continued increases in out-of-pocket cost sharing, is likely to boost U.S. employees’ health care cost increases in 2018 to the highest levels in three years, according to a new actuarial analysis by Aon. The analysis found that after plan design changes and vendor negotiations: The average health care […]

EEO-1 Report’s compensation data requirement stayed

As anticipated, the Office of Management and Budget (OMB), on August 29, 2017, issued an immediate stay of the of the pay data collection aspects of the EEO-1 form added near the end of the Obama Administration. The deadline for the remaining portion of the 2017 Report is still March 31, 2018. On the evening […]

More employers are requiring same-sex couples to marry to receive health benefits

Employers are increasingly requiring same-sex couples to legally marry to receive health care benefits, data from the International Foundation of Employee Benefit Plans reveals. The trend follows the June 2015 Supreme Court ruling that legalized same-sex marriage. Immediately after the 2015 Supreme Court ruling that legalized same-sex marriage, three in ten employers reported they were […]

South Carolina issues 2017 withholding tables

South Carolina has issued new wage-bracket and computer formula withholding tables for wages paid on and after January 1, 2018. The tables will be reproduced in the Payroll Management Guide at 8248 and 8249 in a future release. The state is also reminding employers that 4th Quarter Withholding Returns (Oct-Nov-Dec 2017) and employers’ W2s are […]

Spencer’s Benefits NetNews – September 1, 2017

  About this Newsletter The Spencer’s Benefits Reports is a summary of the week’s news items posted in the WHAT’S NEW pages of Spencer’s Benefits Reports Online. For questions regarding this email service, contact Customer Service at (800)449-9525. NetNews Subscription Want to receive these Newsletters via E-mail? Sign Up / Unsubscribe Resources Online Store […]

ERISA preempted state unpaid leave claim; policy was VEBA-plan dependent

An employee’s unpaid leave claim under the Illinois Wage Payment and Collection Act was completely preempted by ERISA because the employer’s leave policy was dependent on the terms of its VEBA plan, ruled the Seventh Circuit. In affirming the district court’s grant of summary judgment for the employer, the appeals court found that the employee’s […]

Minnesota minimum wage to increase January 1, 2018

Minnesota’s minimum-wage rates will be adjusted for inflation beginning Jan. 1, 2018, to $9.65 an hour for large employers and $7.87 an hour for other state minimum wages. Under Minnesota law, the Commissioner of the Department of Labor and Industry is required to determine and announce the inflation-adjusted minimum-wage rate each year by Aug. 31. […]

HSA assets reach $42.7 billion in June

Health savings accounts (HSA) have grown to an estimated $42.7 billion in assets and 21 million accounts as of June 30, 2017, according to the 2017 Midyear Devenir HSA Survey. Devenir is projecting that the HSA market will exceed $60 billion in HSA assets held amongst nearly 30 million accounts by the end of 2019. […]

Illinois Freedom to Work Act amended

The Illinois Freedom to Work Act has been amended to provide that “low-wage employee” means an employee whose earnings do not exceed the greater of the hourly rate equal to the minimum wage required by the applicable federal, state, or local minimum wage law or a specified amount per hour. Under prior law, the definition […]