Skip to content

PrestigePEO Insights Newsletter – January 2024

PP_Insights_Email_Header_LockUp_Color

The latest news relevant to you and your business

Caregiving Solutions for You and Your Family
Caregiving Solutions for You and Your Family

Caregiving Solutions for You and Your Family

We’re excited to share a new product with you: Motivity Care. Motivity Care is focused on securely storing and sharing sensitive, private information for the care of family members. This platform is especially helpful in efficiently organizing all documents and information for elder care, including medical, legal, and financial documents. Navigating the journey of taking care of a family member is difficult enough as it is. With Motivity Care, you can easily upload documents and share them in real-time, ensuring the recipient has the most up-to-date information. Click the button below to learn more about this service, and be sure to join us for a webinar on Tuesday, January 30 at 1:00 p.m. for an informative overview. Register here.

Motivity Care is available to all benefits-eligible employees. If you would like to opt-out your employees from messaging about this new offering, please click here. You must opt-out your employees by January 22.

Help Your Employees Navigate their W-2!

PAYROLL

Help Your Employees Navigate their W-2!

Tax season is coming soon, and the intricacies of the W-2 form often leave many individuals puzzled. For this reason, the team has arranged an informative webinar session designed to assist you and your employees in navigating this process. Boost your confidence during tax season by participating in this session, where we’ll address common questions our HR team receives every January.

Topics discussed will include:

  • Frequently Asked Questions (FAQs) about the W-2
  • How to find your W-2 using PrestigePRO or the PrestigeGO mobile app

Join us on Wednesday, January 24th at 10:00 a.m. Register at the link below.

2024 W-4 Form Update

Please note: The IRS has recently released a new version of form W-4 for 2024. Please click here to see a quick reference guide to the changes.

Annual OSHA Reporting and our Workers Compensation Resource Center

WORKERS' COMPENSATION

Reminder: Annual OSHA Reporting and our Workers' Compensation Resource Center

On January 11, we sent out an email regarding annual OSHA reporting. If your company is required to comply with the OSHA record-keeping guidelines, PrestigePEO will provide a separate email with detailed instructions and forms. If you don’t receive another email regarding OSHA from PrestigePEO, your company is exempt from filing.

OSHA record-keeping is required for employers with 11 or more employees at any time during the prior calendar year unless the employer’s industry code is listed on the Partial Exempt List. (OSHA 300a Posting by February 1, 2024). Please click here for the list of partially exempt industries.

If you are an employer with 20 – 249 employees (in certain industries) or an employer with 250 employees or more in ANY industry, you are required to annually file the OSHA 300a electronically by March 2, 2024. Please click here for the list of industries with mandatory electronic reporting.

If you have any further questions, please feel free to email Laura Woods, Workers’ Compensation Claims Manager, at lwoods@prestigepeo.com or by phone at (754) 778-8697.

Goal Setting for 2024

HR CORNER

Goal Setting for 2024

It’s that time of year when people have a renewed focus on the things that matter most. We often hear of New Year’s resolutions, which are the goals we establish for ourselves each year.  Resolutions are often accompanied by passion and excitement, fueling us to achieve them. Setting professional goals as part of your organization’s strategy to achieve targeted results can also be viewed in the same way we view our New Year’s resolutions and hopefully with as much enthusiasm.

The process of setting goals begins with the executive team. These leaders determine organizational goals based on company performance, industry growth, company growth, changes in the market, company strategy, and other factors.

Linking Employee Goals to Organizational Objectives

Executives are charged with communicating organizational goals and creating an understanding of these goals. Managers work with executives to develop an understanding of these goals, create departmental goals, and subsequently communicate the goals to their employees. Sharing organizational goals with employees creates a unified vision of what matters most to the organization.

Managers work together with employees to develop professional goals that enable employees to perform in their current positions more effectively. They can also develop stretch goals, which are more challenging goals used to support skills that may lead to promotion or enable employees to work on complex projects.

Goals following the SMART goal format for Specific, Measurable, Achievable, Relevant, and Timebound goals. These allow for the development of comprehensive goals that are more likely to be accomplished.

Regular follow-up allows employees and managers to track progress against the goals established for the year. Managers can do this weekly, monthly, and quarterly during one-on-one employee meetings and more formally during the annual performance evaluation conversation.

With a keen eye on accomplishing goals, your employees can be the impetus to moving your organization to the next level. After all, when the people in your organization achieve their professional goals, the organization benefits from the increased productivity and success this produces. If you have any questions about organizational goals, please reach out to your HR Business Partner.

PrestigePEO Presents: FSA vs. HSA

BENEFITS

PrestigePEO Presents: FSA vs. HSA

Healthcare spending accounts, including FSA and HSA, reimburse you for qualified healthcare expenses for you and your eligible dependents. Curious about what these plans entail? The PrestigePEO team, along with Brady Moss from Optum Financial, will walk you through the ins and outs of some of these healthcare spending account technicalities.

Topics discussed will include:

  • Understanding the difference between FSA, HSA & Dependent Care FSA Plans
  • Guidelines for Filing Claims or Utilizing Plans
  • The significance of Key Dates Linked to the Plans

Join us on Wednesday, February 7, 2024, at 10:00 a.m. Register at the link below.

Important Employee Retention Tax Credit (ERTC) Update

COMPLIANCE

Important Compliance Alerts

To ensure you’re up-to-date on compliance changes impacting your business, we have compiled this list of alerts. Note that certain alerts might pertain exclusively to clients with businesses or employees in specific states — each alert will indicate this. Read below for further details.

Reminder: Important Employee Retention Tax Credit (ERTC) Update

In September 2023, the Internal Revenue Service (IRS) placed a moratorium on processing new Employee Retention Tax Credit (ERTC) claims due to rampant ERTC fraud. The IRS has since accumulated a backlog of over 1 million unprocessed ERTC returns. The IRS has not indicated when it will be ending the moratorium.

PrestigePEO has been in ongoing contact with the IRS about our pending ERTC returns. In a positive turn of events in December 2023, the IRS indicated a willingness to try to expedite our pending claims given our CPEO status; however, how quickly they will be processing our returns is still being determined.

PrestigePEO also continues to receive new ERTC requests from clients. Since the ERTC has been available to employers since 2020, PrestigePEO will not accept any new ERTC requests after January 31, 2024. All clients who have yet to request ERTC through PrestigePEO must submit any new ERTC request by January 31, 2024, including returning our required attestations and credit calculations. As a reminder, clients are expected to tell us how much they want to claim in credits for each quarter, given the ERTC statutes and regulations. PrestigePEO will not accept any new requests after the January 31, 2024, deadline. This will allow us time to file any further claims by the applicable statute of limitations deadlines and focus on outstanding ERTC matters. Please note, PrestigePEO will file any new claims after the deadline and at a date that is to be determined.

If you have been considering a new ERTC request, you can obtain the applicable paperwork from your Payroll Specialist or HRBP. We also have ERTC calculation reports for those clients who may need assistance with calculating the credits. You do not need to do so again if you have already submitted your ERTC request to us.

We appreciate our clients’ continued patience as we work with the IRS to process your ERTC requests.

For more information about the IRS’ backlog and communication on the ERTC moratorium, please visit the IRS website here and here.

New York’s Proposed Ban on Non-Compete Agreements – Vetoed For Now

In December 2023, Governor Hochul vetoed a proposed ban on Non-Compete Agreements that was passed last summer by the New York State Assembly (A1278B).  The legislation would have amended the state’s labor law to prohibit non-compete agreements for all workers in the state, regardless of salary, with very few express exceptions. The legislation was heavily criticized by business groups. However, the bill may be reintroduced by the bill’s sponsor, Senator Sean Ryan, in the upcoming legislative session.

PrestigePEO is here to help.

We will continue to monitor any legislation that may be introduced and will provide updates as necessary. Please reach out to your HR Business Partner with any questions or concerns.

Oregon – Leave of Absence due to Active Service of the State

As of January 1, 2024, Oregon has expanded its definition of “Active Service of the State” for purposes of employee leaves of absence. It now means the regular employment position of an employee on a leave of absence for active state service will be considered vacant only for the period of the leave of absence. During this leave of absence, the employee will not be subject to removal or discharge from the position.

What employees are covered under this law?

The employees covered under the Leave of Absence for “Active Service of the State” are military personnel called into active state service by the Governor of the State.

What does it mean for the employer?

  1. The employer must grant the employee a leave of absence until release from active state service permits the employee to resume the duties of employment. The regular employment position of an employee on a leave of absence for active state service will be considered vacant only for the period of the leave of absence. The employee will not be subject to removal or discharge from the position because of the leave of absence.
  2. The employer is not required to pay wages or other monetary compensation to an employee during a leave of absence.
  3. The State of Oregon will continue coverage under an employer-sponsored health plan to an employee of the State of Oregon and any other individual provided coverage under the employee’s plan on the day before the date the employee goes on leave for a period not exceeding a total of 12 months during a leave of absence. An employer other than the State of Oregon may continue coverage under an employer-sponsored health plan to an employee and any other individual provided coverage under the employee’s plan on the day before the date the employee goes on leave during a required leave of absence.

PrestigePEO is here to help.

PrestigePEO is focused on supporting your business. If you have any questions regarding Oregon’s Leave of Absence law due to “Active Service of the State” or need to update your leave policies, please contact your HR Business Partner.

Oregon – Leave for Victims of Bias

Beginning January 1, 2024, the new Oregon law expanded eligibility for protected leave to bias crime victims. Under the established law, employees eligible for crime victim leave in Oregon include those who are victims of domestic violence, harassment, sexual assault, or stalking, or those who are a parent or guardian of a minor child or dependent who is a victim of domestic violence.

What is a “Covered Employer” under the law?

Under the new Oregon employment law, a “covered employer” means an employer who employs six (6) or more individuals in the State of Oregon for each working day during each of 20 or more calendar workweeks in the year in which an eligible employee takes leave to address domestic violence, harassment, sexual assault, bias or stalking, or in the year immediately preceding the year in which an eligible employee takes leave to address domestic violence, harassment, sexual assault, bias or stalking.

What is an “Eligible Employee” under the law?

Under the new Oregon employment law, an “eligible employee” means an employee who is a victim of domestic violence, harassment, sexual assault, bias, or stalking or is the parent or guardian of a minor child or dependent who is a victim of domestic violence, harassment, sexual assault, bias, or stalking.

What does it mean for Employers?

Employers with at least six (6) employees in Oregon are required to follow a new provision of the state’s non-discrimination law, which expands leave requirements to include employees who are the victim of bias.

PrestigePEO is here to help.

PrestigePEO is focused on supporting your business. If you have any questions regarding Oregon’s law regarding Leave for Victims of Bias, or if you need to update your leave policies, please reach out to your HR Business Partner.

Oregon – Discrimination/Retaliation/Workplace Safety

As of January 1, 2024, the new Oregon employment law bars employers from retaliating or discriminating against employees who refuse to do work that would expose them to serious hazards, provided the employee acted “in good faith and with no reasonable alternative.”

What type of working conditions can be considered hazardous?

  1. Employees working on a farm;
  2. Employees operating heavy machinery:
  3. Employees handling potentially harmful pesticides:
  4. Employees working during extreme weather conditions; and
  5. Employees who perform any other type of work that would expose them to hazardous conditions.

What employers should know about employees’ rights under the new law?

  1. Employees should notify the employer of any violation of law, regulation, or standard pertaining to safety and health in the place of employment when the violation comes to the knowledge of the employee.
  2. Employees are protected from retaliation when they reject assignments that pose grave threats to their lives, provided there is no reasonable alternative and they act in good faith.
  3. Any employee or prospective employee alleging to have been barred or discharged from employment or otherwise discriminated against in compensation, or in terms, conditions, or privileges of employment may file a complaint within a year with the Commissioner of the Bureau of Labor and Industries.

PrestigePEO is here to help.

PrestigePEO is focused on supporting your business. If you have any questions regarding Oregon’s Discrimination/Retaliation/Workplace Safety law changes, please reach out to your HR Business Partner.

Reminder: Massachusetts PFML January 1, 2024, Contribution Rate Increase and Updated Guidance

As a reminder, effective January 1, 2024, Massachusetts PFML Contribution Rates increased, and the increased percentage was dependent upon employer size. The weekly benefit maximum also increased to $1,144.90 for eligible employees.

Employers with 25 or More Employees 

The total PFML Contribution Rate increased to 0.88%

  • The contribution may be split between employee wage withholdings and employer contributions:
    • Medical Leave
      • Total Contribution: 0.70% of eligible wages
      • Employer Contribution Share: 0.42% of eligible wages
      • Employee Contribution Share: 0.28% of eligible wages
    • Family Leave:
      • Total Contribution: 0.18% of eligible wages
      • Employer Contribution Share: 0.00% of eligible wages
      • Employee Contribution Share: 0.18% of eligible wages

Employers with less than 25 Employees 

The total PFML Contribution Rate increased to 0.46%

  • Employers are not required to pay the employer share of the medical leave contribution but may elect to cover some or all of the employee’s share:
    • Medical Leave
      • Total Contribution: 0.28% of eligible wages
      • Employer Contribution Share: 0.00% of eligible wages
      • Employee Contribution Share: 0.28% of eligible wages
    • Family Leave:
      • Total Contribution: 0.18% of eligible wages
      • Employer Contribution Share: 0.00% of eligible wages
      • Employee Contribution Share: 0.18% of eligible wages

Employers with a Private/Self-Insured Plan

Employers with private or self-insured plans that have been approved by the Department of Family and Medical Leave (DFML) are not required to make PFML contributions to the Commonwealth but will need to adjust such private or self-insured plans to reflect the new maximum benefit amounts and contribution rates.

New FAQs from Massachusetts DFML

In December 2023, the Department of Family and Medical Leave (DFML) released updated guidance, which can be found here, clarifying that employees can use their vacation time, sick time, or other PTO while receiving PFML benefits, subject to the employer’s leave policies. The state has advised: “Employees may use accrued sick or vacation pay or other paid leave provided under an employer policy to top off PFML benefits up to their Individual Average Weekly Wage (IAWW), subject to the accrual and use rules of an employer’s PTO policies and provided further that the employer’s PTO policy does not discriminate against an employee for exercising a right to which such employee is entitled to under the PFML program.” This means that employers are not required to, but can, allow their employees to use accrued paid time off while receiving PFML benefits.

What Do Employers Need to Do?

  • Employers must provide employees notice of the contribution rate increases. A posting notice provided by the DFML can be found here.
  • If you have a PFML policy, it should be updated to reflect these changes. If you need assistance updating your policy, please reach out to us if you need assistance.

PrestigePEO is Here to Help!

If you have any questions regarding the increased PFML Contribution Rates for 2024, or need help updating your PFML policy, do not hesitate to reach out to your HR Business Partner!

Updates to the Chicago Paid Leave and Paid Sick and Safe Leave Ordinance

On December 13, 2023, the Chicago City Council voted to delay the paid leave changes in the new Paid Leave and Paid Sick and Safe Leave Ordinance from January 1, 2024, to July 1, 2024.

This delay impacts the following provisions of the Ordinance:

  • Paid Sick Leave Accrual and Carryover: the current accrual rate of 1 hour for every 40 hours worked will remain in effect until June 30, 2024. The new paid sick leave accrual rate of 1 hour for every 35 hours worked will not take effect until July 1, 2024. The changes to the paid sick leave carryover provision will also take effect on July 1, 2024.
  • Paid Leave Accrual: Paid Leave Accrual will now begin on July 1, 2024, rather than January 1, 2024.
  • Medium Employer Partial Payout Extended: Under the new Ordinance, certain employers are required to pay the employee the monetary equivalent of all unused accrued paid leave upon an employee’s termination, resignation, retirement, other separation, or transfer outside of the geographic limits of the City, dependent on the employer’s number of covered employees. Medium employers (51-100 covered employees) would have been required to pay out up to 16 hours of paid leave on separation or transfer through December 31, 2024, and all unused paid leave upon separation or transfer on or after January 1, 2025. That date for full payout has been postponed by six months until July 1, 2025.
    • Small Employers: Employers with 1-50 employees are still not required to pay out unused Paid Leave upon separation or transfer.
    • Large Employers: Employers with more than 100 covered employees must still pay out all unused Paid Leave upon separation or transfer.

Additional changes:

  • Covered Employee: the definition of a Covered Employee for the new Ordinance now defines a covered employee as an individual who works at least 80 hours for an employer within any 120-day period while physically present within the City’s geographic boundaries. This replaces the previous threshold for coverage of at least two hours of work for an employer in any two-week period. The amending Ordinance also clarifies that once the 80-hour threshold is reached for coverage, the employee will remain a covered employee for the remainder of the time that the employee works for the employer.
  • Effective December 31, 2023:
    • Recordkeeping for Non-Covered Employees:The amending Ordinance requires that employers comply with the Ordinance’s recordkeeping requirements for employees whose regular work duties take place within the geographical boundaries of Chicago, even if those individuals do not meet the standard for a “covered employee” under the Ordinance and consequently are not entitled to paid leave or paid sick leave.
    • Changes to Posting Requirements: The new law requires Chicago employers to provide written employment policies to each covered employee in their primary language. Employers must also provide workers with a 14-day notice of any changes to employment policies.

PrestigePEO is here to help.

PrestigePEO is focused on supporting your business. If you have any questions regarding Updates to the Chicago Paid Leave and Paid Sick and Safe Leave Ordinance or updating your existing leave policies, please contact us.

Essential Insights on Regulatory Compliance on the West Coast

UPCOMING WEBINAR

Essential Insights on Regulatory Compliance on the West Coast

Staying abreast of compliance, laws, and regulations is crucial for business owners, and keeping up with the ever-changing landscape of U.S. compliance can be tough. Join this webinar to hear from Elisabeth Shaw, our VP- General Counsel, and Carrie Pilon, Associate General Counsel/HR Consultant, on topics you need to know for the West Coast.

The West Coast Compliance webinar will be offered on Wednesday, January 31, 2024, at 10:00 am. Register for the webinar using the link below.

Streamline your 2024 expense tracking using ExpensePath

PRODUCT CORNER

Streamline your 2024 expense tracking using ExpensePath

Are you making the most of our expense management solution? ExpensePath seamlessly combines robust expense-tracking solutions and data-driven insights, allowing for efficient allocation and budgeting of employee costs. Manage your expenses effortlessly with this fully integrated system. Check out all the details on this time-saving service by clicking the button below! Contact your HR Benefits Partner to get started.

Take Advantage of Special Home & Auto Savings From Farmers GroupSelect!

Finding the right home and auto insurance policy can be difficult and time-consuming. PrestigePEO is proud to offer Farmers GroupSelect, which provides affordable insurance solutions customized to meet your unique needs and budgetary considerations. Alongside auto and homeowners’ insurance, they offer a diverse range of other coverage options. Learn more about the program below, or call (800) 438-6381 and mention your discount code “BPR” to get started.

Feedback

If you have an idea for a future newsletter, we’d love to hear from you! Additionally, if you’d like more information on our services or programs, we can certainly accommodate that as well. Email marketingteam@prestigepeo.com today!

*Please Note: While the information within this newsletter concerns various employment laws and regulations, be aware it is provided solely as general guidance so that you maintain compliance. It is not the equivalent of legal advice, nor does it serve as a substitute for advice of an attorney, if applicable.
×