How will the new FLSA rule impact your business in 2020? Are your employees and contractors correctly classified? Are you in compliance with both state and federal regulations? Are you familiar with the requirements for filing the new EEO-1 Pay Report?
New regulatory reporting and filing deadlines are only a few of the important HR tasks employers need to address in the months ahead. Here is a list of the top 10 to complete in third quarter.
Prepare for New FLSA Ruling and Verify Employee Classifications. Employees are classified as exempt or
Review Healthcare Filing Requirements. Stay compliant and check updates, deadlines and any changes in healthcare reporting. Also, verify that all healthcare reform requirements have been met. Healthcare Exchange Open Enrollment begins November 1 and ends December 15 for coverage beginning January 1, 2020.
Submit VETS 4212 for Federal Contractors. Applicable contractors and subcontractors with a federal contract must file annually a Form VETS-4212 to report affirmative action efforts for employing veterans. This compliance form is due September 30. Source: www.dol.gov/vets/vets4212.htm
File ERISA Annual Report Form 5500. Applicable employers must report retirement plans, such as a 401(k), for every year the plan holds assets. The filing deadline is the last day of the 7th month following the end of the plan year or July 31 for calendar year plans. Source: www.irs.gov/retirement-plans/form-5500-corner
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Prepare Medicare Part D. If you provide prescription drug coverage, you must provide a creditable coverage disclosure notice to all plan participants by October 14. Source: www.medicare.gov/drug-coverage-part-d
Review Your Workers’ Comp Insurance. What are your company’s risk factors? Workplace safety is often overlooked until something goes wrong. Protect your employees and your business with affordable Workers’ Comp Insurance. To learn more, download our free e-book for small businesses. In this guide, you'll learn how to get better rates, details on coverage and effective ways to save money.
Review Your Health Plan Benefits. Keep employees from jumping ship by offering great health insurance benefits. Now is a good time for a mid-year check-in. Review new developments and determine if any adjustments need to be make. And if you are shopping for insurance that meets the needs of your employees and your business, consider Propel HR’s Master Plan. Backed by the nation’s largest and most trusted health insurance provider, our Master Health Plan offers clients top-rated benefits and affordable rates.
NEED HELP? Whether you’re managing HR for a small business or a part of a large team, we’ve got you covered with a helpful one-page checklist of important HR tasks, related to payroll, benefits, compliance and general HR. Depending on the type of business and industry, your HR checklist for this quarter may be more complex. If so, just contact us. By partnering with a certified PEO (CPEO), you gain access to a team of HR experts to help you navigate the complexities of your business, as well as help you stay compliant.