New Mexico Minimum Wage Hike

wage

Gov. Michelle Lujan Grisham signed legislation Monday raising the state’s minimum wage for the first time in a decade from $7.50 an hour to $12 by 2023. The first increase to $9 an hour goes into effect at the start of 2020.

Survey reveals employees’ major financial stressors, millennials’ interest in gig work

millennials in work

Survey reveals employees’ major financial stressors, millennials’ interest in gig work MetLife’s 17th Annual US Employee Benefit Trends Study 2019 reveals that we are now seeing additional trends redefining why we work and what work means to people. According to the study, “[a]s employees leverage work to gain more fulfillment, pursue their goals, and align…

CMS Extends Small Group Transitional Relief Policies through 2020

CMS Extends Small Group Transitional Relief Policies through 2020 On Mar 25, 2019, CMS issued a new one year extension of its transitional policy for non-grandfathered small group plans that are not compliant with the ACA. Policyholders will be allowed to renew their transitional plan coverage (commonly referred to as ‘grandmothered plans’) through Oct 1, 2020 as…

DOL proposal would update, clarify “regular rate of pay”

regular pay rate

DOL proposal would update, clarify ‘regular rate’ The Department of Labor has released a proposed rule that would clarify and update the “regular rate” requirements in regulations that have not been updated in more than 50 years. The regular rate has been a headache for many employers, because while it is the rate that must…

Q&A: Do adoption assistance programs need to be in writing?

People processes adoption assistance program

Issue: You would like to implement an adoption assistance program for your company. In order for the financial assistance to be nontaxable, does the program need to be in writing? Answer: Yes. Adoption assistance programs are governed under Internal Revenue Code Sec. 137, which specifies that an adoption assistance program must be a separate written plan of…

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