Qualified Transportation Fringe Benefit Limits to Increase in 2024 The 2024 monthly limit for transportation in a commuter highway vehicle and transit pass (combined) is $315. The 2024 monthly limit for qualified parking is $315. These amounts represent a $15…
On Nov. 9, 2023, the IRS announced the inflation-adjusted limit for 2024 on employee salary reduction contributions to health flexible spending accounts (FSAs). For plan years beginning in 2024, the adjusted dollar limit on employees’ pre-tax contributions to health FSAs…
The IRS recently released the 2024 benefit plan limits based on the annual cost-of-living adjustments in the Internal Revenue Code. These limits take effect beginning January 1, 2024. Employers should update their Summary Plan Descriptions and other materials highlighting the…
The Internal Revenue Service (IRS) has released Notice 2023-75, containing cost- of-living adjustments for 2023 that affect amounts employees can contribute to 401(k) plans and individual retirement accounts (IRAs). 2024 Increases The employee contribution limit for 401(k) plans in 2024…
On July 28, 2023, Gov. Pritzker signed Public Act 103-0291, known as the Transportation Benefits Program Act (the “Act”) to promote employees commuting to and from their workplaces on public transit. The Act will be effective on January 1, 2024.…
Who Is Eligible? An individual’s eligibility for HSA contributions is typically determined monthly as of the first day of the month. In general, an HSA contribution can only be made for months in which the individual meets all the eligibility…
EEOC Announces Oct. 31 Opening and Dec. 5 Deadline for 2022 EEO-1 Reports On Sept. 1, 2023, the U.S. Equal Employment Opportunity Commission (EEOC) announced that Oct. 31, 2023, is the date employers may expect the portal for submitting 2022…
HRPro of Royal Oak, MI was named one of the 2023 Best Places to Work in Southeast Michigan. The annual list of the Best Places to Work in Southeast Michigan was created by Best Companies Group in partnership with Crain’s…
Addressing the New Normal of Talent Shortages As talent shortages persist across industries, an increasing number of employers are grappling with the need to adapt to the “new normal” to address this challenge effectively. HR departments are encountering a significant…
HRPro, a leading human resources solutions provider, is thrilled to be recognized as one of the Best and Brightest Companies to Work For® in 2023. This prestigious award honors companies that excel in business acumen and human resource practices, with…
