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2015’s 401(k) Contribution Limit Increases to $18,000
The Internal Revenue Service announced today that contribution limits for 401(k) plans and individual retirement accounts will increase due to cost-of-living adjustments. The maximum amount of contributions an employee can make to their 401(k) plan is determined each year by the IRS. “Many of the pension plan limitations will change for 2015 because the increase in the cost-of-living index met …
FLSA Cases Hit Record High in 2014
Lawsuits filed under the Fair Labor Standards Act (FLSA) hit another record high in 2014, according to information from Seyfarth Shaw law firm. The number of federal wage-and-hour lawsuits for the period of April 1, 2013, to March 31, 2014 (the Federal Judicial Center’s reporting year) increased to 8,126. This is an increase of almost 5% from 2013 and a …
New California Paid Sick Leave Statue to Go Into Effect in 2015
California employers will have to provide paid sick leave to employees under a new statute signed by Gov. Jerry Brown. The bill, California Assembly Bill (AB) 1522 “Healthy Workplaces, Healthy Families Act of 2014” will go into effect July 1, 2015. California is the 2nd state in the nation, following Connecticut in implementing state-wide paid sick leave benefits for employees. …
Colorado Affirmation Form Update
According the Colorado Division of Labor there is an updated Colorado Affirmation form to help ensure employees are legally eligible to work for both public and private businesses. You will need to update your pre-employment packet to include an updated form for Colorado Affirmation. This form is to fulfill the Employment Verification Law requirements in addition to the I-9. The …
Estimated Increase to the Colorado State Minimum Wage for 2015
The Consumer Price Index for Denver Boulder Greeley has increased by 2.9%, which means a new minimum wage rate for 2015. The minimum wage rule enacted in 2006 to the Colorado Constitution requires the state’s minimum wage rate to be adjusted each year for inflation. The inflation adjustment is based on the US Bureau of Labor Statistics’ Consumer Price Index for All Urban …