Curated Toolkit for the week of 10/14/2024 from Risk Strategies

IRS Private Letter Ruling Offers Employee Choice Between Tax-Favored Benefits

The Internal Revenue Service (IRS) issued a Private Letter Ruling (PLR) on May 20, 2024, approving an employer’s proposed amendments to its 401(k) retirement plan. These proposed amendments offer employees a choice to allocate a portion of the 401(k) retirement plan’s non-elective employer discretionary contribution to any of the following other employer-sponsored tax-favored benefit plans:

1. Retiree health reimbursement arrangement (HRA);
2. Health savings account (HSA); and
3. Section 127 educational assistance program for student loan repayment purposes.

Massachusetts PFML Updates for 2025

The Massachusetts Department of Family and Medical Leave (the “Department”) recently announced several updates in connection with the Massachusetts Paid Family and Medical Leave (“MA PFML”) program for 2025

Cybersecurity Risks in Hospitality

For many hospitality businesses, tech isn’t a strength and cybercriminals know it. While you’re busy creating great customer experiences, bad actors are looking for entry points to nab credit card data and gain access to your financial accounts. Here are cyber scenarios from restaurants and hotels, along with tips for improving cybersecurity hygiene.

Save Your Seat!

Trending Employment Law Topics: Pay equity, AI, and Diversity & Inclusion

Date: Wednesday, October 23, 2024 Time: 2pm ET / 11am PT

Employers are facing increasing pressure and challenges with recent workforce developments around pay equity and transparency, artificial intelligence (AI), as well as diversity and inclusion initiatives. Join us for timely insight on each of these trending workforce topics including:

• Pay equity/transparency: What it is and how it impacts an organization, legal requirements surrounding state pay transparency, and how to ensure your organization is compliant.
• Artificial Intelligence (AI): The growing role of AI in HR functions, pending and new related legislation, as well as the implications you need to be aware of as an employer.
• Workforce Diversity & Inclusion: The shifting diversity landscape and the accompanying issues, in addition to organizational trends and strategies when considering an inclusive workplace.

Save your seat now and gain the context you need to navigate the path ahead.

SHRM credit will be provided to those who attend the entire one-hour live session.

Risk Strategies Company is now recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP? or SHRM-SCP? recertification activities.

Todd LaRue has over 20 years of experience in providing comprehensive and customized employee benefits, human resources consulting, and risk mitigation services to employers of all sizes and industries. His mission is to help employers achieve their long-term strategic goals, enhance their employee engagement, and reduce their operational costs and risks.