July 2024 Employer Regulatory and Legislative Update | CBIZ

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

This regulatory and legislative update covers issues involving student loan repayment, preventive coverage, job-based life insurance participant money and more.

Student Loan Repayment an Option Clarified | Learn More

Employers can provide employees up to $5,250 each calendar year in the form of tax favored tuition reimbursement. Recently issued IRS FAQ guidance addresses the applicability to student loan repayment.

Preventive Coverage Stands for Now | Learn More

A recent Fifth Circuit Court of Appeals decision preserves the requirement that health plans cover certain preventive services at no cost.

No Shenanigans with Participant Money Warns DOL | Learn More

The Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) has reached a settlement with life insurance insurers regarding its evidence of insurability practices for participants in job-based life insurance plans.

A New World Order for Ambiguous Statutes | Learn More

The Chevron Doctrine rendered 40 years ago provides that administrative agencies, such as the Department of Labor, have the authority to use their expertise to interpret ambiguous statutes. On June 28, 2024, the Supreme Court overturned the Chevron Doctrine indicating that the courts and not administrative agencies must interpret ambiguous statutes.

Minnesota Amended its Paid Sick Leave Law | Learn More

Governor Walz signed amendments to the Earned Sick and Safe Time (ESST) Act which took effect May 24, 2024.

Washington DC Increases Employer Payroll Tax on Paid Family Leave | Learn More

Washington DC’s City Council unanimously passed the 2025 Fiscal Year budget which includes a 0.49% increase to the employer payroll tax for Paid Family Leave.

Rhode Island Joins Auto-IRA Bandwagon | Learn More

RISavers, a state-facilitated auto-IRA program is signed into law by Governor McKee on June 26, 2024.

July 2024 Employer Regulatory and Legislative Update | CBIZ, Inc.https://www.cbiz.com/Portals/0/BiReskinImages/Hero Images/hero_image_3.jpg?ver=2020-11-24-160620-267As businesses are increasingly focused on reopening and rebuilding, it’s important to stay on top of regulatory and legislative matters to ensure continued compliance.2024-07-02T17:00:00-05:00This regulatory and legislative update covers issues involving student loan repayment, preventive coverage, job-based life insurance participant money and more.Regulatory, Compliance, & LegislativeEmployee Benefits ComplianceAccelerated RecoveryCOVID-19No