On April 23, the Federal Trade Commission issued a final rule to promote competition by banning noncompetes nationwide, protecting the fundamental freedom of workers to change jobs, increasing innovation, and fostering new business formation. “Noncompete clauses keep wages low, suppress new ideas, and rob the American economy of dynamism, including from the more than 8,500 [...]
How Skills-Based Hiring Could Expand Your Applicant Pool Are you finding it difficult to fill job openings because not enough people are applying? You wouldn’t be alone. Some organizations are expanding their applicant pool by dropping the college degree requirement and instead adopting a more inclusive, skills-based approach to hiring. Would such an approach benefit [...]
Frank Loconte, president of NER Construction Management Corporation and NER Management LLC, based in Wilmington MA was sentenced to 20 months in prison following his involvement in a fraudulent payroll scheme. He was also ordered to pay over $4.5 million in restitution and a $15,000 fine. Loconte pleaded guilty in September 2023 to charges of [...]
The U.S. Department of Labor (DOL) has published a final rule for independent contractor classification under the federal Fair Labor Standards Act (FLSA). Here are details on the rule. Here's a summary: Beginning on March 11, 2024, the rule will effectively reinstate the longstanding version of the “economic reality” test the DOL previously used. This test [...]
The minimum wage for work performed on or in connection with federal contracts will increase as follows: Contracts Covered by Executive Order 13658 : The minimum wage will increase to $12.90 per hour and the minimum base wage for tipped employees will increase to $9.05 per hour. Contracts Covered by Executive Order 14026 : The minimum wage [...]
The IRS standard mileage rate will be 67 cents per mile driven for business purposes (up from 65.5 cents in 2023). This rate also applies to electric and hybrid vehicles. Use of this rate is optional, though it’s widely accepted as an easy and standard reimbursement rate for employees who use their personal vehicle for [...]
In an effort to provide our clients with the most robust payroll and HR platform, we are pleased to roll out our new payroll software, iSolved, over the first quarter of 2024. The transition will be gradual over the next few months, with the goal of having all clients on the new platform. We will [...]
Everyone needs time off from work, but not everyone’s able to take it. Paid time off helps a lot. People are better able to take the time they need without worrying about a smaller paycheck. Employers demonstrate to their teams that they value them as whole people and recognize that time away from work is [...]
The Health Insurance Responsibility Disclosure (HIRD) is a state reporting requirement in Massachusetts, which launched in 2018. State law (M.G.L. c. 118E, section 78) requires every in-state and out-of-state employer who had 6 or more employees within Massachusetts at any time during the past 12 months to annually submit a HIRD form, which collects information about your employer-sponsored insurance [...]
Here are the 2023 year-end schedule and checklist for clients.
