December 2024 Employer Regulatory and Legislative Update | CBIZ

December 2024 Employer Regulatory and Legislative Update | CBIZ, Inc.

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This regulatory and legislative update covers issues involving disaster relief for benefit plans, FLSA changes, 2025 premiums and more.

Disaster Relief for Benefit Plans | Learn More

The Department of Labor, Department of the Treasury and the Internal Revenue Service released a Bulletin extending numerous deadlines to allow plan participants, beneficiaries, employers and plan sponsors affected by Hurricanes Helen and Milton and Tropical Storm Helene additional time to make coverage and other decisions that affect health benefits.

On Again Off Again FLSA Changes | Learn More

On November 15, 2024, a federal court in Texas vacated changes to the Department of Labor’s (DOL) changes to the FLSA.

CMS Announces 2025 Premiums and Cost-Sharing Amounts | Learn More

The Centers for Medicare and Medicaid Services (CMS) has issued the 2025 cost of living adjustments to certain parts of Medicare.

IRS Releases 2024 Forms for HSA Reporting | Learn More

HSA account holders use the Form 8889 to report contributions, including contributions made by the HSA account holder’s employer, as well as distributions from the HSA that occur during the tax year.

5500 and 5558 Filing Mechanics | Learn More

Beginning January 1, 2025, Form 5558 can be filed electronically through EFAST2 or filed with the IRS using a paper form.

Informational Copies of Form 5500 | Learn More

The federal government has made informational copies of the 2024 Form 5500 available, more information can be found here.

Massachusetts Paid Family Leave Posters Updated | Learn More

The Department of Paid Family and Medical Leave released the contribution rate and weekly benefit amount for the paid family and medical leave law beginning January 1, 2025, see November Benefit Beat article here.

New Jersey Issues 2025 Contribution Rates for Temporary Disability and Family Leave | Learn More

Individuals employed in New Jersey may be entitled to temporary benefits for a disability caused by non-occupational sickness or accident and may also be eligible for family leave for baby bonding or care for a family member.

Pay Transparency Comes to New Jersey | Learn More

On November 18, 2024, New Jersey Governor Phil Murphy signed pay transparency legislation that will require employers, beginning in June 2025, to disclose compensation and benefits in job postings.

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December 2024 Employer Regulatory and Legislative Update | CBIZ, Inc.https://www.cbiz.com/Portals/0/Images/GettyImages-1456110882 (1)-1.jpg?ver=JCSGoU0CENnG9xQAbktI6A%3d%3dhttps://www.cbiz.com/Portals/0/Images/GettyImages-1456110882 (1).jpg?ver=eja4Leqv3pOCiwwZm8zZRQ%3d%3dAs businesses are increasingly focused on reopening and rebuilding, it’s important to stay on top of regulatory and legislative matters to ensure continued compliance.2024-12-03T18:00:00-05:00This regulatory and legislative update covers issues involving disaster relief for benefit plans, FLSA changes, 2025 premiums and more.Regulatory, Compliance, & LegislativeEmployee Benefits ComplianceAccelerated RecoveryCOVID-19No
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    "CBIZ" is the brand name under which CBIZ CPAs P.C. and CBIZ Inc. and its subsidiaries, including CBIZ Advisors, LLC, provide professional services. CBIZ CPAs P.C. and CBIZ, Inc. (and its subsidiaries) practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations, and professional standards. CBIZ CPAs P.C. is a licensed independent CPA firm that provides attest services to its clients. CBIZ, Inc. and its subsidiary entities provide tax, advisory, and consulting services to their clients. CBIZ, Inc. and its subsidiary entities are not licensed CPA firms and, therefore, cannot provide attest services.

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