Your employee benefit plan might be hiding a problem. The payments made by your employees for optional insurance benefits might – without your knowledge – be used to subsidize or reduce your cost for other insurance benefits. If this problem is found during an audit by the Department of Labor (“DOL”), monetary penalties could be significant.
Strauss Troy Attorney Theresa Nelson Spoke At Great Clips General Manager Summit. Her presentation, The Top 10 Legal Mistakes Employers Should Avoid, focused on the importance of investing time and effort in good employment practice to minimize exposure and maximize long-term ROI. By avoiding these 10 mistakes franchisee, and other employers, can minimize legal costs, time invested and turn-over.
While most of us will never see a pension, the IRS has been expanding the opportunities for retirement savings using your 401(k) plan. Initially, there was only the opportunity to defer some of your salary into the plan in pre-tax dollars. That would allow the contribution — including the amount that would otherwise be paid in tax — to increase due to investment experience and allow the earnings to compound over the life of the account. Many employers tie the company contribution to the salary deferrals — offering a match — so that electing to defer salary results in an effective “return” on the contribution before it is even invested — essentially “free money.”
Strauss Troy Attorney Patrick Newton is a member of the Cincinnati USA Regional Chamber’s 2015 C-Change Class.
Strauss Troy Attorney John Fischer was a contributing editor to the multi-volume Sixth Edition of The Developing Labor Law and to its just published 2014 Cumulative Supplement.
As businesses wrap-up the year and celebrate the holidays, owners may not be thinking too much about 2015. But, there’s a Grinch lurking that may try to steal your joy and put a kink in your works. Government investigations and employee lawsuits are on the rise for wage and hour violations. Small and mid-sized businesses …Read More
Three Strauss Troy Attorneys will present at upcoming National Business Institute (NBI) seminars.
Before there were HDHPs (High Deductible Health Plans) and HSAs (Health Savings Accounts), the only way to pay for out-of-pocket medical expenses in pre-tax dollars was through a “Cafeteria Plan” – a special tax provision of IRC Section 125 sometimes referred to as a Flexible Spending Account or FSA. If you’ve been offered an opportunity to participate, this may be your best choice.
Strauss Troy announces that attorneys Corey Hamilton and Theresa Nelson have joined the firm.
Now that the United States Supreme Court has determined that cell phones, or mobile devices, fit squarely under the protection of the 225 year old Fourth Amendment to the Constitution, here’s what you need to know.