Your HR Checklist for Q2

Posted by HR Division of Propel HR on 3/14/24 11:17 AM
HR Division of Propel HR
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Posted on: March 14, 2024

From new laws to filing deadlines for state, federal, and local compliance, HR responsibilities continue to grow.  Here's your HR checklist for Q2.

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PAYROLL & TAX

Prepare for Applicable State-Specific, Mid-Year Minimum Wage Increases. Applicable to all employees covered by the Fair Labor Standards Act (FLSA) except for agricultural employees and employees of municipalities and the Commonwealth of Puerto Rico. Many states also have minimum wage laws. When an employee is subject to state and federal minimum wage laws, the employee is entitled to the higher minimum wage rate. To learn more about applicable minimum wage laws in the states where you have employees working, visit the Department of Labor's interactive map. 

COMPLIANCE

AdobeStock_151809562_01File 2023 EEO-1 Component 1 Report. The EEO-1 Component 1 Report is a mandatory annual data collection that requires all private sector employers with 100 or more employees and federal contractors with 50 or more employees meeting certain criteria to submit workforce demographic data, including data by job category and sex and race or ethnicity, to the EEOC. The 2023 EEO-1 Component 1 data collection will open on April 30, 2024. The deadline to file the 2023 EEO-1 Component 1 Report is June 4, 2024.

Remove OSHA Form 300A. As part of OSHA's record-keeping requirements, applicable employers must post a summary of the injuries and illnesses recorded the previous year from February through April. Employers must maintain these records at the worksite for at least five years. On April 30, 2024, applicable employers may remove OSHA Form 300A, a summary of workplace injuries and illnesses.

AdobeStock_307186435_01Employee or Independent Contractor? On March 11, 2024, the Department of Labor’s final rule goes into effect and revises prior guidance on how employers determine whether a worker is an employee or independent contractor under the FLSA.

Schedule Required Compliance Training. Check all required federal, state, and industry workplace training requirements that apply to your business, as well as workplace training mandated in your state. 

Watch for Updates in DOL's Overtime Rule. The Department of Labor plans to release the final overtime rule in the spring. Look for potential changes or additional requirements. 

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BENEFITS 

Review Your Employee Benefits Plan. Follow up with your benefits broker for updates, deadlines, and any changes in reporting. Also, verify that all healthcare reform requirements are met.

⚠️And don’t let your Benefits Renewal Date sneak up on you. Renewal dates will be here before you know it. Review your benefits plan and consider options to get the best coverage for your employees at the best price. Then start the conversation with your benefits broker at least 60 days in advance.

AdobeStock_703192279_01Review All Insurance Policies. Is your health plan the right fit for your business? Do you know what to expect during the insurance renewal process? Do you have all the policies in place to protect your business? National Insurance Awareness Day is June 28, 2024, and an annual reminder to review all of your insurance policies. Determine if changes in your work environment or staff work assignments may impact your current exposure and codes on your account. Also, check with your Workers' Comp insurance broker to determine if you need to make any necessary adjustments to cover additional exposure, including remote workers. 

Medicare Part D Disclosure. Employers providing prescription drug coverage to Medicare-eligible individuals must also disclose to the Centers for Medicare and Medicaid Services (CMS) whether the coverage is creditable or non-creditable. This annual disclosure must be made no more than 60 days after the beginning of each plan year.

GENERAL HR

Review Record-keeping Requirements for Small Businesses. Small businesses are required to follow a number of regulations for record-keeping.  A few examples include:

Employment Records: 1 Year. Age Discrimination in Employment Act (ADEA), Americans with Disabilities Act (ADA), and the Civil Rights Act of 1964 (Title VII) require employers to retain hiring (including resumes or applications of those interviewed) and employment records for one year after creating the documents or the hire/no-hire decision, whichever is later. In addition, after employment terminates, employers must keep existing employment records for one year from the termination date.

Leave Records: 3 Years. The Family Medical Leave Act (FMLA) requires employers to keep leave records for three years.
AdobeStock_251700536_01

Employment Tax Records: 4 Years. Under the Federal Insurance Contribution Act (FICA), Federal Unemployment Tax Act, and Internal Revenue Code, employers should keep employment tax records for four years after filing the 4th quarter taxes.

Form I-9: 3 Years. The Immigration Reform and Control Act (IRCA) and Immigration and Nationality Act (INA) require employers to keep copies of Form I-9 and supporting documentation for three years after the date of hire or one year after the date of termination, whichever is later.

 

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Need Help? We've got you covered. Depending on your business and industry, your HR checklist may be different and even more complex. As an IRS-certified Professional Employer Organization (PEO), Propel HR has been a leading provider of Human Resources and payroll solutions for more than 25 years. We partner with small to mid-sized businesses to manage payroll, employee benefits, compliance and risks, and other HR functions in a way that maximizes efficiency and reduces costs. If you need help, just give us a call at (800) 446-6567, or to learn more, visit www.propelhr.com.

PLEASE NOTE: This information is for general reference purposes only. As we continue to work during an active pandemic, laws, regulations, and filing deadlines are likely to change. Please check with the appropriate organizations or government agencies for the latest information and consult your employment attorney and/or benefits advisor regarding your responsibilities. In addition, your company may be exempt from certain requirements and/or be subject to different requirements under the laws of your state. (Updated March 14, 2024)

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HR Division of Propel HR

The HR Division is made up of a team of professionals with a vast level of experience and HR expertise, assisting organizations of all sizes and within a wide variety of industries. They readily partner with clients to address strategic and compliance challenges surrounding the employment life-cycle and the ever-changing laws that regulate it. Inquire below about how they can help you!