Outlined below are several recent governmental changes of which clients should be aware. Non-compliance for any of them often has substantial penalties.
Our internal expert, Leslie Day, Director of HR Consulting Services, can answer any questions and provide guidance. She can be reached at 630-785-2205 or
Beginning last year, all companies with 50 or more employees needed to meet the requirements of the Affordable Care Act (ACA), which includes reporting to employees and the IRS each year.
In the spring this year, we supported our clients with this new annual reporting. This year, the deadline was March 31, which was extended three additional months. For next year, the 1095C’s for employees are due by Jan. 31, 2017
. Therefore, our deadlines are much more accelerated. If you wish us to provide this service, we MUST have your full company data by Dec. 16, 2016, in order to meet the strict deadline.
As it is the second year of ACA reporting, we expect that it will be a smoother process.
Please keep an eye out for an email soon with information on how to enroll for ACA reporting services with Precision Payroll. For questions, please contact Kiran Waheed at 630-242-1531, firstname.lastname@example.org
If you have 50 employees or more, or are unsure if you must file these annual reports, please contact Tom Sodeika, Precision Payroll President & CEO, at 630-242-1507, email@example.com
EEOC (Equal Employment Opportunity Commission) to Collect Annual Earnings and Hours Worked
There is a big change on the horizon for the Employer Information Report (EEO-1). Using 2017 data, the Equal Employment Opportunity Commission (EEOC) will begin collecting summary employee annual earnings and hours worked on all employees for covered employers.
vered employers are private employers with 100 or more employees, or federal contractors and subcontractors with 50 or more employees. These companies are required to complete the EEO-1 each year. Starting next year, summary annual earnings and hours worked will be added to the annual EEO-1, which will now be submitted in March each year.
“This is a huge increase in data that must be accumulated for the report, and the first time the government has required information on employee pay,” said Leslie Day, Director of HR Consulting Services.
No report will be due in September 2017. But the report is now to be filed in March 2018 using 2017 data.
The EEOC will be offering free webinars for employers, and technical assistance also will be available through the EEOC’s hotline and email.
Stay tuned for any changes in this government mandate.
Effective December 1st: The Minimum Exempt Salary Level Change
On Dec. 1, the Department of Labor’s rule to increase the minimum salary requirements under the Fair Labor Standards Act (FLSA) for salaried exempt employees is effective.
We often learn when assisting clients that the jobs they have established as “salaried exempt” do not meet the legal job duties for this classification. The job must first meet these requirements, and then secondarily, must meet the new minimum salary of $47,476 to remain salaried exempt as of Dec. 1, 2016.
We’ve provided details that explain the rule: click here
Precision offers many tools and resources to help you transition to this new employment environment, including:
- An audit of your salaried exempt positions to ensure compliance
- A spreadsheet to calculate the change from salaried exempt to non-exempt salaried/hourly with overtime (OT) hours
- HR HelpDesk services
- Desktop-based timekeeping and tracking software.