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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Q. We are a small employer and only have operations in Minnesota. I recently learned that Minnesota does not require overtime pay until after an employee has worked 48 hours in a workweek. Do we have to pay overtime after 40 hours or can we have employees work an extra eight hours before they are entitled to overtime?
As temperatures soar and vacation season kicks into high gear, your organization can score significant points with employees by making short work of summer Fridays.

Even if they’ve been diligently socking away money in their 401(k) plans, employees who are about to retire are no doubt nervous about their financial futures. The nagging question: Will their retirement savings last as long as they do? Believe it or not, the IRS wants to help.

Supplemental health insurance plans can build good will among employees, make your benefits package more competitive and enhance HR’s image. To make sure you secure the best coverage at the best prices, ask insurance brokers about the following topics.

The IRS has announced the 2013 inflation-adjusted figures for health savings accounts (HSAs) and high-deductible health plans.
The DOL recently gave the nod to national enforcement of regulations specifying that employees’ tips are their sole property, regardless of whether employers take the tip credit. This should serve as a timely reminder, since many teens and college students regularly earn tips during the summer.

Q. How much time must our company allow an employee to review a severance package before accepting or rejecting the release agreement?

The Fair Labor Standards Act doesn’t require you to provide employees with meal breaks. It does require you to pay employees whose meal breaks last for fewer than 30 minutes and those who work through their meal breaks. However, 40 states do have laws covering meal and rest breaks. This chart summarizes those laws.

Louisville-based Appriss offers its 350-plus employees free access to an on-site doctor’s office. The technology-solutions company also waives health care insurance premiums for workers who do not use tobacco.

Here’s something to keep in mind if you’re contemplating a reduction in force: If you plan to offer severance packages in exchange for a liability release, make sure you aren’t too selective about who gets the best deals.
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