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This post is part of the TriNet ongoing series about the Affordable Care Act and its effects on small business.
President Obama recently approved of the Protecting Affordable Coverage for Employees (PACE) Act, which changes how the ACA defines the “small group market.” This most recent change to healthcare reform has reignited the debate over whether additional reforms to the ACA are necessary and has also forced nearly a dozen states to make a complicated decision before the end of the year.
The PACE Act repealed the ACA requirement to expand the small group market definition to include employers with 51-100 employees in every state in 2016. However, despite the repeal, PACE permits states to act independently. This means that state legislatures can decide to expand the definition of “small group” in their state to be anywhere up to 100 employees. Continue reading this entry →
Business leaders want to recognize employees for the hard work and dedication they have provided all year. One form of this celebration is the annual holiday party. If you choose this method of celebration, there are basic etiquette and safety reminders to follow.
First off, try to avoid linking the celebration to a religious holiday. Unless you know EVERY employee celebrates Christmas, don’t call it a Christmas party. Pretty basic stuff but being insensitive to employees’ religious beliefs and assuming everyone celebrates Christmas…well, we all know what ‘assume’ means!
Here are some items to keep in mind: Continue reading this entry →
Over 55 million Americans currently do not have a 401(k) or other employer-sponsored savings plan. On November 5, the U.S. Department of the Treasury responded to this growing issue by rolling out a new individual retirement account that will be available for all Americans and is meant to be a stepping stone to retirement savings for employees who do not have any other retirement savings vehicles at their disposal. With myRA, employees can fund their retirement account in one of three ways:
- Payroll deductions
- Checking or savings account
- Federal tax refunds
The major benefit of a myRA account is that it is designed to be low-risk and fee-free. It will be managed by the Treasury Department and allows the account holder to save up to $5,500 per year for those younger than age 50 and up to $6,500 per year for those over age 50. Participants can contribute up to $15,000 for the life of the account. Continue reading this entry →
Guest post by Bruce Eckfeldt
I played squash last week with a fellow McGill alumnus. I got my butt kicked since it’s been ten years since I’ve picked up a squash racket and he plays three times a week. Despite that, I’m glad we played. We had a good conversation about the merit of performance reviews and whether or not, in the end, they are really worth it.
His position was that they are a waste of time. He’s held several CEO positions and every time he’s seen them implemented they’ve taken a significant amount of organizational effort and have resulted in limited, if any, meaningful changes in performance. His general conclusion is that performance reviews are too little, too late. In some cases, they actually do more harm than good by delivering the wrong message and setting false expectations about performance evaluation and career longevity. Continue reading this entry →