Hardship withdrawals from employer-sponsored 401(k)-type retirement plans will be easier to make under new provisions in the budget act passed Feb. 9. These distributions may be needed for emergencies, but plan participants should understand the effect of early withdrawals on their retirement savings over time.
Budget Law Eases 401(k) Hardship Withdrawals
Milwaukee Area Employment Law Attorney: 200 South Executive Drive, Suite 101 Brookfield, WI 53005 Phone: 262-241-8444
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For 2018, 401(k) Contribution Limit for Employees Rises to $18,500
Janet L. Heins|Benefits Communication, Communication, Defined Benefit Plans, Defined Contribution Plans, News, Benefits, Compensation, Equal Pay, Pay
Employee 401(k) contributions for 2018 will top off at $18,500—a $500 increase from 2017—while the “all sources” maximum contribution...
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Viewpoint: If an Employee Attends a Beyonce Concert While on FMLA Leave, Can She Be Terminated?
Janet L. Heins|Family and Medical Leave, News, Relationship Management, Benefits, Compensation, Equal Pay, Pay
Employers often hesitate to conduct workplace investigations or take disciplinary action against an employee taking leave under the Family...
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2018 Family HSA Contribution Limit Stays at $6,900 After All
Janet L. Heins|Benefits Communication, Communication, Health Savings Accounts (HSAs), News, Benefits, Compensation, Equal Pay, Pay
The IRS announced relief for employees with family coverage who contribute to a health savings account (HSA), restoring the...
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FMLA Claim Advances Because of Insufficient Documentation
Janet L. Heins|Communication, Employee Relations Communication, Family and Medical Leave, News, Benefits, Compensation, Equal Pay, Pay
Citing the employer’s “insufficient documentation,” a federal court found that genuine questions existed as to whether a former employee...
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Was Your Employee Benefit Plan Selected for an Audit? Don’t Panic!
Janet L. Heins|Benefits Compliance, Critical Evaluation, News, Benefits, Compensation, Equal Pay, Pay
Many HR professional dread having their retirement or health plans examined by the IRS or the Department of Labor,...
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Puerto Rico Grants Temporary Tax Exemptions Related to Hurricane Relief
Janet L. Heins|Benefits, News, Puerto Rico, Benefits, Compensation, Equal Pay, Pay
The Puerto Rico Department of the Treasury has granted temporary income tax exemptions for payments and certain benefits provided...
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Private Companies Expect Pay Raises to Top 4% in 2018
Janet L. Heins|Critical Evaluation, News, Salary Surveys, Benefits, Compensation, Equal Pay, Pay
A new report suggests that private U.S. companies may give employees substantially larger salary increases in 2018 than their...
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New York Courts Rule on 24-Hour Nonresidential Home Care Workers’ Pay
Janet L. Heins|Compensation Compliance, New York, News, Benefits, Compensation, Equal Pay, Pay
A pair of New York state appellate decisions has serious implications for employers that offer 24-hour home care for...
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H.E.L.P. – Heins Employment Law Practice Employee Rights Attorneys
200 South Executive Drive, Suite 101
Brookfield, WI 53005
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