The Department of Labor’s final rule on overtime regulations will influence how an estimated 4.2 million American workers are paid during the first year of implementation, which starts December 1, 2016.
Global Economy, Economic Environment, Labor, Leadership, Human Resources, Staff Training & Development
Recent data from the Programme for International Student Assessment and a new survey of adult skills highlight significant skills deficits for U.S. students and adults relative to their counterparts in key regions of the world. The situation appears especially difficult in the math arena.
Finance, Tax, U.S. Tax, Federal Tax Rules & Regulations, U.S. Tax Policy, Leadership, Human Resources, Benefits, Health Benefits
Proposed rules released by the IRS explain how large employers will be assessed if they fail to provide affordable health insurance coverage to their full-time employees and dependents. Understanding the definitions for these terms is key to what the rules do. A “large employer” has more than 50 full-time employees. “Full-time employees” work at least 30 hours per week, but two employees who each work 15 hours per week equal one full-time employee for purposes of the calculation. “Affordable coverage” depends on the employee’s income and the benefits offered, which should exceed an as-yet undefined level of minimum essential coverage. And the benefits must be offered to dependents.