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Compensation and Benefits

Compensation and benefits topics – whether it’s minimum wage, workers’ compensation laws, or employee pay – if properly handled, can help you retain workers and recruit new ones.

Use our advice to craft independent contractor agreements that keep independent contractors – and your bosses – happy.

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Do you employ workers on a piece-rate basis but require them to stick around when things are slow or perform other tasks between the piecework? If so, watch out!
Q. We gave eligible employees a “floating holiday” in lieu of having Dec. 31 as a paid holiday. We generally pay employees for all unused vacation, sick and personal time upon termination, but we have no policy regarding an unused floating holiday. Do we have to pay workers for any unused floating holidays upon termination?
Here’s some good news: If you have complete and accurate time records, an employee’s claims that he just “knows” what hours others work isn’t going to be enough to keep a lawsuit moving.
Women earn an average of $44,400 annually, compared to $68,300 for men, according to a study by CareerBuilder and Economic Modeling Specialists.
Recent FY2014 budget proposals by President Obama include a major change for retirement savers: A new $3 million limit would apply to assets in qualified retirement plans such as 401(k)plans, as well as defined-benefit pensions and IRAs.
The U.S. Department of Labor has released model notices employers can use or adapt to tell employees about their options for buying health insurance through government-run state exchanges.
There’s a quick and easy way to determine whether your bonus payment program might be tainted by hidden sex discrimination in violation of either the federal Equal Pay Act or the New York Human Rights Law.

Q. Our business recently was forced to implement layoffs—and most of our remaining employees walked off the job. All were given a COBRA notice, but only one chose to take the coverage. Since this was a group insurance policy and only one person will now be insured, the insurer is canceling our policy. What’s our responsibility to that ex-employee?

Despite popular ire over excessive CEO pay, shareholders remain blasé about the topic, at least according to a preliminary analysis of proxy votes compiled by the Skadden Arps law firm.
Make it clear that it’s essential to complete time sheets on time. Dis­cipline those who don’t follow the rules. If you have to fire time sheet ­slackers, rest assured they won’t be eligible to collect unemployment benefits on your account.
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