On December 29, 2022, President Biden signed into law the “SECURE 2.0 Act of 2022,” which includes nearly 100 sections that expand on retirement laws and encourage (and, in some cases, require) additional retirement savings. SECURE 2.0 comes right on the heels of the SECURE Act of 2019, which, at […]
Labor & Employment Law Update
Review of California’s 2022 Legislative Session and New Employment Laws
on Friday, 9 December 2022 in
Labor & Employment Law Update: Sarah M. Huyck, Editor
California’s 2022 legislative session concluded at the end of September, and Governor Newsom approved a number of employment-related bills, most of which will impose new obligations on California employers starting on January 1, 2023. California employers, including out-of-state companies with California employees, should take steps to become familiar with the […]
The DOL and IRS Have Been Busy! Quick Hits Employee Benefits Update
on Friday, 9 December 2022 in
Labor & Employment Law Update: Sarah M. Huyck, Editor
The DOL and IRS have been busy the past few weeks, issuing new guidance. This newsletter article offers a “quick hits” summary of some of the key changes: 1) New Determination Letter Program for 403(b) Plans. Earlier this fall, the IRS published Revenue Procedure 2022-40, which now permits determination letter […]
Form I-9 Update — Employment Authorization Incident to Status for Ukrainians and Afghan Refugees
on Friday, 9 December 2022 in
Labor & Employment Law Update: Sarah M. Huyck, Editor
On November 21, 2022, the USCIS announced that Ukrainian and Afghan parolees with certain classes of admission are employment authorized incident to their parole – meaning that they can begin employment before an Employment Authorization Document has been issued. This was announced in light of the deep backlogs at the […]
IRS Announces 2023 Cost-of-Living Adjustments for Retirement and Health and Welfare Benefit Plans
on Monday, 21 November 2022 in
Labor & Employment Law Update: Sarah M. Huyck, Editor
The Internal Revenue Service (IRS) has announced the cost-of-living adjustments for retirement and health and welfare benefit plans. The changes are effective January 1, 2023. Limit Type Current 2022 Limit New 2023 Limit Defined Contribution Retirement Plan Elective Deferral Contribution Limit $20,500 $22,500 Catch-Up Contribution Limit $6,500 $7,500 Annual […]
