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 […]
Labor & Employment Law Update
The DOL and IRS Have Been Busy! Quick Hits Employee Benefits Update
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 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
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 […]
IRS Proposes Changes to ACA Affordability Thresholds
On October 13, 2022, the IRS issued final regulations that revise how to measure affordability under the Affordable Care Act (ACA) for purposes of an individual’s eligibility for the premium tax credit. The final regulations are largely unchanged from the proposed regulations the IRS issued in April. The final regulations […]