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DOL’s Final Overtime Rule Vacated – What it Means for Your Business
On Nov. 15, 2024, the U.S. District Court for the Eastern District of Texas vacated the U.S. Department of Labor’s (DOL) final rule to amend current requirements that employees in white-collar occupations must satisfy to qualify for an overtime exemption under the...
Here are the 2025 Retirement Plan Limits
The IRS has released Notice 2024-80, containing cost-of-living adjustments for 2025 that affect the limits employees can contribute to 401(k) plans and individual retirement accounts (IRAs). Key Changes for 2025 Retirement Plans The employee contribution limit for...
What are the Employee Benefit Plan Limits for 2025?
Your browser does not support the audio element. Many employee benefit plans are subject to annual dollar limits that are adjusted for inflation by the IRS each year. The following commonly offered employee benefits are subject to these limits in 2025:High deductible...
Is the New York State Minimum Wage Increasing in 2025?
The following changes to the New York minimum wage and salary thresholds apply as of January 1, 2025. New York City, Long Island, and Westchester County The minimum wage will increase to $16.50 per hour. The minimum base wage for tipped hospitality workers will be...
