Compliance

Federal Law Update:

February 4, 2016

in Compliance

Reminder: Post OSHA 300A Forms Now

The Occupational Safety and Health Administration (OSHA) mandates that all employers who are required to maintain the OSHA 300 Log of Work-Related Injuries and Illnesses post a summary of the previous year’s log from February 1st to April 30th each year, even if no incidents occurred in the preceding calendar year. The summary (OSHA Form 300A) must be certified by a company executive and posted in a conspicuous location where notices to employees are customarily posted.

All employers who have more than ten employees are covered by this requirement unless they qualify as part of an exempt low-risk industry. A full list of the industries exempt from OSHA routine recordkeeping requirements (including posting Form 300A) can be found in the guides section of the HR Support Center by searching “OSHA 300 exempt industries.” The OSHA Log of Work-Related Injuries and Illnesses (Form 300), Summary (Form 300A) and Instructions can be found in the forms section of the HR Support Center by searching for “OSHA Form 300.”

Content is courtesy of Transcend Technologies Group, Inc.

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Legal Alert

January 5, 2016

in Compliance

ACA Delay in Reporting Deadlines

On 12/28/15 the Internal Revenue Service (IRS) sent out a belated Christmas present to employers and other plan sponsors when it announced it was delaying the 2016 Affordable Care Act reporting requirements. In Notice 2016-4 the IRS announced that the deadline for providing to individuals the 2015 Form 1095-B and Form 1095-C is delayed from February 1, 2016 to March 31, 2016. Similarly, the deadline for filing with the IRS Forms 1094-B and 1094-C is delayed from February 29 to May 31, 2016 for non-electric filers and from March 31 to June 30, 2016 for electronic filers.

Because of the delay, some employees will not receive their forms until after the April 15 tax filing deadline. The IRS indicates that these employees do not have to file an amended tax return. They should simply keep their forms in a file should they need them later.

Stay tuned.

 

This alert was prepared by Peter Marathas, Mr. Marathas is a nationally recognized expert on the Affordable Care Act. His firm, Marathas Barrow & Weatherhead LLP, is a premier employee benefits, executive compensation and employment law firm.

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Colorado Law Alert

January 5, 2016

in Compliance

Colorado 2016 Law Updates

Text Effective January 1, 2016, Colorado’s minimum wage will increase from $8.23 to $8.31 per hour. The minimum wage for tipped employees will increase from $5.21 to $5.29 per hour. The state minimum wage is adjusted annually for inflation based on the Consumer Price Index for all Urban Consumers in the Denver-Boulder-Greeley combined metropolitan area.

We recommend that you review the pay rates of your employees to ensure compliance with the new minimum wage rates. Additionally, you should update any posters notifying employees of the minimum wage.

Also of note, the Colorado Department of Labor (CDOL) recently clarified that employers can have “use-it-or-lose-it” policies in their vacation agreements, provided the following are in place:

  • Any such policy should be included in the terms of an agreement between the employer and employee.
  • A “use-it-or-lose-it” policy may not deprive an employee of earned vacation time and/or the wages associated with that time.
  • Any vacation pay that is “earned and determinable” must be paid upon separation of employment.
  • The terms of an agreement between the employer and employee will dictate when vacation pay is earned.

We recommend that employers who have “use-it-or-lose-it” policies review them in light of the CDOL guidance.

 

The content in this section is courtesy of:   Transcend Technologies Group, Inc., 9401 E. Stockton Blvd Ste. 240, Elk Grove, CA 95624

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Federal Law Updates

January 5, 2016

in Compliance

Federal Law Updates

The minimum wage for federal contractors will increase to $10.15 per hour as of January 1, 2016. The wage requirement applies to new and replacement contracts (solicited on or after January 1, 2015) with employers covered by the Service Contract Act or any employer who handles concessions and services in connection with Federal property or lands. We recommend that employers review the pay rates of their employees and plan any changes necessary to comply with the rate increase.

Also of note for federal contractors: starting this January, employers with federal contracts entered into or modified after January 11, 2016 and totaling more than $10,000 may not discharge or in any other manner discriminate against any employee or applicant because the employee or applicant has disclosed their own compensation or inquired about, discussed, or disclosed the compensation of others. Compensation here includes both pay and benefits.

 

The content in this section is courtesy of:   Transcend Technologies Group, Inc., 9401 E. Stockton Blvd Ste. 240, Elk Grove, CA 95624

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First Information Returns Due in 2016

The Internal Revenue Service (IRS) has released finalized forms and instructions for 2015 to help employers prepare for compliance with the new information reporting provisions under the Affordable Care Act (ACA). Employers are required to report for the first time in early 2016 for calendar year 2015.

Who is Required to Report
As a reminder, Forms 1094-B and 1095-B will be used by insurers, self-insuring employers, and other parties that provide minimum essential health coverage (regardless of size, except for large self-insuring employers) to report information on this coverage to the IRS and to covered individuals.

Large employers (generally those with 50 or more full-time employees, including full-time equivalents or FTEs) will use Forms 1094-C and 1095-C to report information to the IRS and to their employees about their compliance with the employer shared responsibility provisions (“pay or play”) and the health care coverage they have offered.

Note: Employers subject to both reporting provisions (generally self-insured employers with 50 or more full-time employees, including FTEs) will satisfy their reporting obligations using Forms 1094-C and 1095-C. Form 1095-C includes separate sections for reporting under each provision.

2015 Forms and Instructions
Final versions of the 2014 forms were previously released for those employers that chose to voluntarily comply for the 2014 calendar year. The following forms and instructions are now available for 2015:

•  Form 1094-C (transmittal)
•  Form 1095-C
—   2015 Instructions
•  Form 1094-B (transmittal)
•  Form 1095-B
—  2015 Instructions

Forms 1095-B and 1095-C must be electronically filed if the employer is required to file at least 250 of the specific form.

For More Information
Additional details on the information reporting requirements for providers of minimum essential coverage, including self-insuring employers, are available in IRS Questions and Answers. More information about the information reporting requirements for large employers subject to “pay or play” is available in separate IRS Questions and Answers.

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