Category Archives: Salaries

Minimum Wages Increase for Some U.S. Workers

The federal minimum wage —which stands at $7.25 per hour ($2.13 for those who earn tips)— has not been raised since 2009. In the absence of action at the national level, many states have raised their own minimum wages. This will result in some U.S. workers seeing increased pay in 2019.

According to the U.S. Department of Labor (DOL), there are 29 states plus the District of Columbia, Guam, and the Virgin Islands with minimum wage rates set higherRead the rest

IRS Warns Employers: Be Alert to Identity Theft and W-2 Scams

The Internal Revenue Service (IRS), State Tax Agencies and the Tax Industry are working together to encourage both individual and business taxpayers to take steps to protect their tax data and identities in advance of the 2019 filing season.  Just like individuals, businesses may have their identities stolen and their sensitive information used to open credit card accounts or used to file fraudulent tax returns for bogus refunds. Employers also hold sensitive tax data on employees, such as Form W-2 Read the rest

Weigh-In on Overtime Rule

The U.S. Department of Labor’s Wage and Hour Division has announced that in the upcoming weeks, it will hold public listening sessions to gather views on the Part 541 white collar exemption regulations, often referred to as the “Overtime Rule.”

Issued under the Fair Labor Standards Act, these regulations implement exemptions from the overtime pay requirements for executive, administrative, professional, and certain other employees. The Department plans to update the Overtime Rule and is interested in hearing Read the rest

3 Rules on Downsizing for Retirement

Many of us look forward to the day when we can “hang up our hats and call it quits.”  We look forward to a time when we no longer have to punch the proverbial clock; when we can get up whenever we feel like it—if we feel like it. But how many of us will be in a financial position to retire when the time comes? Lots of people talk about retiring. But most don’t have a clue if they Read the rest

7 Easy Ways to Encourage Employees to Save More for Retirement

Early in our careers many of us are so busy trying to pay bills and make it to the next pay check that we contribute very little (if anything at all) to our retirement plans.  But time flies. We look up and realize that we are close to retirement with very little saved. We may ask ourselves how we could possibly save more so that we are ready to retire when the time comes. The author of this article offers … Read the rest

What Employees Want More Than a Raise

The salary you are paid can determine your quality of life now and in the future.  Salary can be the most significant aspect of any job. After salary, benefits offered by an employer is usually the next major factor of consideration in determining whether a candidate accepts a job offer or not. In fact, Glassdoor statistics state that 57% of job candidates say that benefits and perks are among their top considerations before accepting a job. Benefits can also be Read the rest

We Want a Raise!

Have you received a raise lately—one that covered more than your increase in health care costs? It seems that wages have remained relatively flat for many workers. According to a recent report from job site Glassdoor, the annual median base pay in the United States grew just 0.9 percent year over year (YOY) in January 2018. According to HRDive, an Indeed survey revealed that only 19% of U.S. workers are satisfied with their current salaries. In fact, an Read the rest

Minimum Wage Increased in 18 States

While New Year’s Day was a day of celebration for many, it was also the day that many new employment laws became effective. As a result, employers must pay close attention to municipal and state regulations, as well as federal changes to ensure compliance, especially when it comes to the multitude of minimum wage increases. Unfortunately, the U.S. minimum wage has remained stagnant for nearly a decade. The last time the federal minimum wage increased was in July 2009 (from Read the rest

Pay Perception May Be More Important to Workers Than Actual Compensation

A new study from PayScale showed that how employees feel about their organization’s approach to pay fairness and transparency had a higher impact on their job satisfaction than the amount they were paid. PayScale surveyed 501,796 workers on which aspects of their job contribute to their satisfaction and retention, and ultimately to their engagement. The research also found that, of the respondents who felt they were underpaid, 90% actually were paid at or above the market rate, and 75% of Read the rest

Is It Ever Okay to Borrow from Your Retirement Account?

With the holidays fast approaching, many people may be thinking about ways to get some extra money.  Perhaps you want to do some small projects around the house before guests arrive. Or maybe you want extra money for events that have nothing to do with the holidays. You might want to help a child prepare for an upcoming wedding, or help one prepare to start college. Whatever your reason for needing extra cash, you might be contemplating taking out a Read the rest