Current event news and information

Business

FTC Proposes Rule to Ban Non-compete Clauses 

Getting hired on by a company, the last thing you’re thinking about is what will happen when you leave the company. Many people see themselves staying long-term and are more than willing to sign a non-compete contract or clause without doing their due diligence.  As time goes on, the company may not live up to your expectations, and you may find yourself wanting to find better employment opportunities. Unfortunately, a non-compete clause blocks you from being able to pursue something competitive in your field or even starting your own business.  The Federal Trade Commission (FTC) recently introduced a new subchapter

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Benefits

How to Choose Benefits and Perks for Employees  

In today’s market, employees seek more than just the highest compensation. They’re looking for a company with generous benefits and perks package that can fit into their lifestyle. Benefits and perks are the keys to satisfying and retaining employees, especially in a challenging hiring market.   Making smart decisions with your benefits package can be a powerful way to add value to your company for every current and prospective employee. But how do you choose the best benefits and perks? Understanding the options available is essential to make informed decisions about what works best for your company. These benefits and perks

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Benefits

Should Employees Go to Work If They Are Sick? 

During cold and flu season, it’s inevitable that people in the office will get sick. Every person with a fever, runny nose, sore throat, or cough has a difficult decision: should they stay home or go to work?   Staying home is the best way to improve health and prevent others in the office from getting sick, bringing down workplace productivity. Unfortunately, not everyone has the luxury of calling in sick. Although many employers are required to provide enough sick time throughout the year, people continue to attend work, even if they aren’t feeling great. 9 out of 10 employees admit

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Benefits

2023 401K Limit Increases and 2023 IRA Limit Increases

The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased to $22,500, up from $20,500. The limit on annual contributions to an IRA increased to $6,500, up from $6,000. The IRA catch‑up contribution limit for individuals aged 50 and over is not subject to an annual cost‑of‑living adjustment and remains $1,000. The catch-up contribution limit for employees aged 50 and over who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased to $7,500, up from $6,500. Therefore, participants in 401(k), 403(b),

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Benefits

2023 FSA Dependent Care and Commuter Contribution Limits Announced

For the taxable years beginning in 2023, the dollar limitation for employee salary reductions for contributions to health flexible spending arrangements increases to $3,050. For cafeteria plans that permit the carryover of unused amounts, the maximum carryover amount is $610, an increase of $40 from taxable years beginning in 2022. For commuter benefits, the monthly limitation for the qualified transportation fringe benefit and the monthly limitation for qualified parking increases to $300, up $20 from the limit for 2022. For dependent care, the annual limits will remain $5,000 for single taxpayers and married couples filing jointly or $2,500 for married people

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