On Nov. 9, 2023, the IRS released Revenue Procedure 2023-34 (Rev. Proc. 23- 34), which includes the inflation-adjusted limit for 2024 on employee salary reduction contributions to health flexible spending accounts (FSAs). For plan years beginning in 2024, the adjusted...

Today, the IRS released Revenue Procedure 2023-34 (Rev. Proc. 23-34), which includes the inflation-adjusted limit for 2024 on employee salary reduction contributions to health flexible spending accounts (FSAs) along with qualified transportation fringe benefits.

Under federal and state laws, employers must compensate their employeeswith one and one-half times their regular rate of pay for any hours ofovertime work. However, under these laws, employees who work in anexecutive, administrative or professional (EAP) capacity are...

The Internal Revenue Service (IRS) has released Notice 2023-75, containing costof-living adjustments for 2024 that affect amounts employees can contribute to401(k) plans and individual retirement accounts (IRAs).2024 IncreasesThe employee contribution limit for 401(k)...