Cost of living adjustments to employee benefits limitations
This chart summarizes some key IRS employee benefit plan limitations for 2019 and prior years, for easy reference:
Cost of Living Adjustment to Employee Benefits Limitations
The IRS has announced cost of living adjustments to employee benefits limitations for 2018, including increasing the 401(k) elective deferral limit to $18,500 (plus $6,000 catch-up for those age 50 and older, plan permitting).
This chart summarizes some key limits:
Yahoo’s data breach costs general counsel his job
Well this is unsettling – the person responsible for the massive data breaches at Yahoo was its general counsel? CorporateCounsel speculates about what this means for in-house counsel: are their jobs at risk over cybersecurity? And I wonder – what if a company does not have in-house counsel, or has turnover in IT? Who else will be held accountable for data breaches?
Department of Labor’s New Overtime Rule Blocked, For Now
Late yesterday, a federal judge in Texas issued a nationwide injunction and blocked the U.S. Department of Labor’s (DOL) new federal overtime rule from taking effect on December 1. The new rule would have raised the minimum salary for most exempt employees from $23,660 to $47,476.
Employee Benefit Plan Limits – Reference Chart for 2017 and Prior Cost-of-Living Adjustments
The Internal Revenue Code sets forth various dollar limitations on benefits, contributions, compensation under employee benefit plans.