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Marathon HR News

Stay up-to-date on the latest Marathon HR news and developments via our newsletter and press releases. For details on the successful partnerships we build with clients, please read our case studies and testimonials.

IRS Raises 401K Contribution Limits by Nearly 10% for 2023

By 401Ks, Tax Law

The Internal Revenue Service (IRS) has announced a record increase in contribution limits for 401(k) and other tax-deferred retirement plans for 2023. Starting next year, retirement plan participants are allowed to contribute up to $22,500 to qualified plans such as 401(k)s, 403(b)s, most 457 plans or the Thrift Savings Plan for federal employees. The increase amounts to $2,000 more (roughly 10%) than the current $20,500 federal contribution limit for 2022. Contribution limits are indexed to…

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Inflation and cost-of-living adjustments (COLAs) are driving payroll changes coming for 2023

By Employment Law, Payroll

Changes include: Flexible Savings Accounts (FSAs)/Health Savings Accounts (HSAs) Next year, employees can put an extra $200 into their FSAs/HSAs, with the annual contribution limit rising to $3,050 (up from $2,850 in 2022). Employers should make sure that their plan documents, summary plan descriptions and election forms disclose this change to employees. QSEHRAs Allowances for qualified small employer health reimbursement arrangements (QSEHRAs) increased to $5,850 for individual coverage (an increase of $400) and $11,800 for…

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Should You Have an Employee Benefit Clawback Provision?

By Employee Retention, Employment Law

Does your business offer prospective employees enticements like signing bonuses or moving expense reimbursement to enhance your recruiting efforts and attract talent during this competitive labor market? If so, you may want to consider protecting yourself with what’s known as a ‘clawback’ provision if things don’t go as planned with a new employee. Adding this provision to your onboarding documents gives you legal recourse to recapture money that the employee shouldn’t be able to keep…

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Businesses Shouldn’t Bear Costs When Switching Payroll Systems

By Payroll

Switching from one payroll software or provider to another is a major decision that can have a significant impact on a company and its employees if not handled correctly. When it comes to the cost of changing payroll systems, the burden should really be on the software or payroll provider to make the transition as seamless as possible for the employer. Migrations that don’t go well can result in: Lost productivity. When migrating from one…

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Employer Responsibilities for Tip-Based Compensation

By Employment Law, Tips and Gratuities

If you employ people in positions that commonly receive tips or gratuities, it’s important to stay abreast of your responsibilities as an employer. Requirements for taking tip credits The current federal minimum wage is $7.25 per hour; employers may claim a tip credit to pay $2.13 per hour if employees make up the difference through tips. If an employee doesn’t make enough in tips to reach minimum wage, the employer must make up the difference….

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Can Employers Still Use the Federal Employee Retention Credit?

By Employee Retention, Employment Law

The Employee Retention Credit (ERC) under the CARES Act was created to encourage businesses to keep employees on their payroll during the COVID-19 pandemic. The ERC provided some relief for employers whose businesses were financially affected by COVID-19. Even though the ERC has expired, employers who experienced a significant loss of revenue during the period that the credit was effective may still be eligible to claim it. How does the ERC work? According to IRS…

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By the Numbers: Calculating Employees for Workers’ Comp

By Employment Law, Workers' Compensation

The number of workers employed by a business is often a determinant in how certain employment laws apply. This month, we will focus on how a business should define its number of employees for the purpose of workers’ compensation (workers’ comp) requirements. Workers’ comp laws protect people who become injured or disabled while working at their jobs. They provide replacement income in the event of a workplace accident which prohibits the employee from returning to…

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Take an Active Approach to Quiet Quitting

By Best Practices, Employee Retention

Remember last year’s “Great Resignation,” when many employees optimistically left their jobs in search of greener pastures? Times have changed a bit, and fewer employees are willing to take the risk of quitting a stable job outright. However, they may be engaging in a trend known as “quiet quitting.” This passive attitude toward work can damage your business, and you want to be able to recognize and address it before it becomes a big problem….

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Employment Regulations by the Numbers

By Best Practices, Employment Law

Employers of any size must understand and be compliant with applicable labor laws. While we won’t go into an exhaustive review of all employment regulations in this article, here are some things to keep in mind. Regulations that apply to all employers Employers of all sizes must comply with certain federal laws. These include, but are not limited to: Equal Pay Act (EPA), which requires equal pay for equal work Fair Labor Standards Act (FLSA),…

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Federal Holidays to Consider Including in a Time Off Policy

By Best Practices, Holidays

As we near the end of 2022, now is a good time to start planning your business calendar for 2023. Like many companies, you will need to decide which federal holidays, if any, to recognize as part of your overall business decisions. What are the official federal holidays? The United States has established by law 12 permanent federal holidays. The first four federal holidays were created in 1870, when Congress granted paid time off to…

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