ACA Times

FEBRUARY 1, 2017

employee) elections for application of the de minimis error safe harbor from penalties under IRC Sections 6721 and 6722 as amended by Protecting Americans from Tax Hikes Act of 2015 (P.L. However, this de minimis safe harbor is not available with respect to those payees who have made an election under Section 6722(c)(3)(B).

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ACA Times

JANUARY 12, 2017

The IRS has provided clarity with regard to what qualifies as an “intentional or reckless disregard of facts” by employees when it comes to seeking shelter under the employee Premium Tax Credit (PTC) safe harbor under Internal Revenue Code 1.36B-2(c)(3)(v)(A)(3). The employee safe harbor is based on the Exchange determination.

Compliance 100

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Zenefits

AUGUST 15, 2022

What is a Safe Harbor 401K? If that sounds daunting to you, then you may be interested in a special kind of plan called a Safe Harbor 401(k) , which can reduce your risk of failing and make things easier down the road. A Safe Harbor 401(k) lets your company’s plan automatically satisfy most nondiscrimination testing.

Retirement 41

Retirement Compensation Guidelines ADP 41

Guideline

JULY 1, 2019

What is a Safe Harbor 401(k) plan? This guide explains everything from the different 401(k) compliance tests to what you’ll need to do to set up a Safe Harbor plan. So, what’s a Safe Harbor 401(k) plan? A Safe Harbor plan is a special kind of 401(k) that is exempt from nondiscrimination testing.

Retirement 75

Retirement ADP Compensation Background screening 75

Guideline

AUGUST 11, 2020

Safe Harbor plans are a unique type of 401(k). So unique, in fact, that we wrote a step-by-step guide to cover their many requirements, deadlines and the steps needed to set up a Safe Harbor 401(k) plan. By opening a Safe Harbor plan you’re investing in your employees’ retirement and incentivizing them to save.

Retirement 52

Retirement ADP Guidelines Payroll 52

ACA Times

JANUARY 6, 2022

While similar to the 1A code, the 1E code may indicate that the offer of coverage was not affordable, or was affordable under the W-2 or Rate of Pay safe harbors. . 2F : The 2F code indicates the coverage offered meets the W-2 safe harbor for determining affordability.

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Compliance Assessment Software Meeting Planning Tools 246

Guideline

JULY 24, 2020

If you didn’t know (and you probably didn’t), July and August constitute “safe harbor season” for many 401(k) providers. That’s because safe harbor 401(k) plans are very popular and time-sensitive—safe harbor plans need to be set up and running by October 1 in order to meet IRS requirements. Why safe harbor?

Retirement 52

Retirement ADP Guidelines Talent Acquisition 52

Zenefits

JUNE 21, 2021

In this post, we’ll dive into the trickier aspects of setting up a savings program, and how a special kind of plan called a Safe Harbor 401(k) can reduce your risk and make things easier down the road. Here’s what you need to know: Setting up your Safe Harbor 401(k). Safe Harbor Deadlines.

ADP 36

ADP Retirement Zenefits Compensation 36

Zenefits

AUGUST 23, 2022

Keep reading to find out all about a unique type of plan — called the Safe Harbor 401(k) plan — and how it can benefit your employees and business. What’s a Safe Harbor 401(k) plan? A safe harbor 401(k) plan ensures all eligible plan participants receives contributions from their employer.

Retirement 36

Retirement ADP Planning Tools Onboarding Software 36

PeopleKeep

OCTOBER 4, 2019

In Notice 2018-88, the federal government released certain proposed safe harbors designed to help ALEs with calculating the affordability of their individual coverage health reimbursement arrangement (ICHRA) contributions. Failure to comply with the mandate could result in penalties.

Company 40

Company ATS Compliance 40

ACA Times

MAY 28, 2020

Because an employer generally will not know the employee’s household income, the final regulations under the ACA identify three separate “safe harbors” under which an employer could determine affordability: (1) the Form W-2 wages safe harbor, (2) the rate of pay safe harbor, and (3) the federal poverty line safe harbor.

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Compliance Payroll Report Meeting 177

ForUsAll

JULY 26, 2018

Welcome to our Safe Harbor 401(k) guide! You might’ve heard that Safe Harbor can be a good plan design, but you’re probably wondering: what the heck is a Safe Harbor 401(k)? In this article, we’ll walk you through everything you need to know to decide if a Safe Harbor 401(k) is right for your business.

ADP 40

ADP Compensation Compliance Retirement 40

ACA Times

APRIL 6, 2022

Instead, they should leverage IRS safe harbors. These IRS-sanctioned methods prove affordability and there are several types, including the Federal Poverty Level Safe Harbor, The Rate of Pay Safe Harbor, and the W-2 Safe Harbor. . Mistake 4: Keep disorganized payroll records.

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Compliance Time and Attendance Payroll Hiring 130

ACA Times

SEPTEMBER 13, 2023

We’ve recently explored how IRS safe harbors for affordability help businesses… The post ACA Penalty Risks: Proactive Compliance and Risk Mitigation for Employers first appeared on The ACA Times.

Compliance 130

Compliance 130

ACA Times

OCTOBER 21, 2020

Individual coverage HRA offered to you only using the employee’s primary employment site ZIP Code affordability safe harbor. . Individual coverage HRA offered to you and dependent(s) (not spouse) using the employee’s primary employment site ZIP Code affordability safe harbor. .

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Report Compliance Company 246

HR Daily Advisor

OCTOBER 5, 2018

In Notice 2018-74 , the agency refreshed guidance on the safe harbor that employers may use to comply with retirement plan participant notice requirements in advance of rollover distributions under Section 402(f) of the federal tax code. Source: Pgiam / iStock / Getty.

Retirement 52

Retirement Handbook Certification Compliance Training 52

HR Daily Advisor

APRIL 6, 2018

As a result, plan sponsors will want to review immediately with this change in mind their safe harbor hardship distribution procedures for participants’ property-damage claims. The regulations allow plans to satisfy this requirement through either a “facts and circumstances” analysis or six “safe harbor” categories.

Retirement 43

Retirement Immedis Analysis Compliance 43

ACA Times

JANUARY 22, 2021

Individual coverage HRA offered to an employee only using the employee’s primary employment site ZIP Code affordability safe harbor. Individual coverage HRA offered to an employee and their dependent(s) (not spouse) using the employee’s primary employment site ZIP Code affordability safe harbor.

Compliance 246

Compliance Report Assessment Software System 246

PeopleStrategy

NOVEMBER 14, 2023

You will need to determine the affordability based on the Form W-2 safe harbor, the rate of pay safe harbor, or the federal poverty level safe harbor. That means what you require employees to contribute for 2024 to meet the adjusted percentage might need to be lowered significantly.

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Planning Tools Assessment Software HR Software Compliance 130

HR Digest

DECEMBER 28, 2023

Creating a Safe Harbor for Employers Navigating the complexities of immigration and employment laws can leave employers feeling lost at sea. However, there are provisions and strategies that can provide a safe harbor for employers and help them navigate the compliance landscape.

Hiring Software 59

Hiring Software Diversity Recruiting Software E-Recruitment 59

ACA Times

OCTOBER 29, 2020

Individual coverage HRA offered to an employee only using the employee’s primary employment site ZIP Code affordability safe harbor. . Individual coverage HRA offered to an employee and their dependents (not spouse) using the employee’s primary employment site ZIP Code affordability safe harbor. .

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Compliance Report Company Compliance Training 219

Patriot Software

JULY 11, 2022

In the United States, the most common type of retirement plan is the trusty 401(k). With over 60 million active participants and an estimated $7.3 trillion in assets, businesses of all sizes offer this type of plan to help their employees save for the retirement they deserve. However, not all 401(k)s are the same. While […] READ MORE.

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Retirement How To Payroll 75

HR Daily Advisor

DECEMBER 19, 2016

When retirement plan sponsors adopt a “safe harbor” 401(k) plan design, they are deemed to be compliant with the actual deferral percentage (ADP) and actual contribution percentage (ACP) nondiscrimination testing provisions of the Internal Revenue Code (IRS)—the federal tax Code. by Todd Castleton of Proskauer Rose LLP.

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ADP Background screening Compensation Examples 40

Compensation Cafe

NOVEMBER 3, 2015

On October 6 Europe’s highest court struck down an international agreement (Safe Harbor) that has allowed thousands of companies to easily transfer personal data from Europe to the U.S. Europe have always felt uneasy about the Safe Harbor agreement. since 2000. It was pretty much an honor system.

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ACA Times

OCTOBER 12, 2021

Specifically, the IRS language says, “Any month that shows XF, XG, or XH is due to a determination that you do not qualify for the safe harbor being claimed (2F, 2G, or 2H). If you still think the safe harbor applies, provide your computation with your written request for reconsideration.”.

Assessment Software 130

Assessment Software Compliance Report Meeting 130

HR Daily Advisor

DECEMBER 7, 2016

In hearing a recent federal challenge to an employer’s wellness incentive program, a court rejected the company’s contention that the Americans with Disabilities Act’s (ADA) safe harbor for benefits administration should apply. Safe Harbor. However, the court dismissed the U.S. This case is now under appeal.).

Wellness 40

Wellness Background screening Planning Tools Assessment Software 40

Thrive Global

NOVEMBER 26, 2018

Finding Your Safe Harbor?—?And And Getting Out Of It Harbors are safe for ships, but ships aren’t built for harbors Don’t become a relic, become a viking! But cruising into a comfortable harbor does not help you set your dreams at a distant horizon. You can’t do any of that if you stay in your harbor.

Thrive Global 28

Thrive Global Course Compliance Training Meeting 28

ACA Times

MARCH 22, 2022

Jonny’s employer leverages the Rate of Pay Safe Harbor to calculate ACA affordability for Johnny and the rest of its staff. Ensure that the coverage is affordable by using one of the IRS-approved safe harbor methods for calculating affordability. Jonny Doe works at a local hardware store and earns $15 an hour.

Compliance 130

Compliance Report Meeting Examples 130

Paychex

SEPTEMBER 6, 2016

A 401(k) with a safe harbor provision offers a solution. Traditional 401(k) plans can sometimes limit business owners and other highly compensated employees from maximizing contributions.

Planning Tools 40

Planning Tools Compensation 40

ACA Times

FEBRUARY 24, 2020

It is important to note the difference between codes 1A and 1E, which is that code 1E may indicate an offer of coverage was not considered affordable, or was affordable under an applicable IRS safe harbor—excluding the federal poverty line safe harbor. It typically is seen with an accompanying 1H on line 14.

Assessment Software 100

Assessment Software Compliance Report Planning Tools 100

ADP

APRIL 20, 2017

The ACA's affordability safe harbors ensure compliance. Find out which one is right for your organization.

Compliance 40

Compliance 40

HR Daily Advisor

JANUARY 27, 2016

Second, the IRS issued a much-needed clarification on the income percentages for the ACA’s affordability safe harbors. Link to story that’s going live on Weds. Read more.

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Report Industry ATS 40

HireRight

OCTOBER 15, 2015

As expected, the Court of Justice of the European Union (“CJEU“) has declared EU-US Safe Harbor protocol to be invalid. The post Ding Dong, Safe Harbor is (effectively) Dead… appeared first on Employment Background Check Blog - HireRight. Initial responses from [.].

Compliance 28

Compliance 28

Paychex

MAY 5, 2017

Senate voted to repeal a DOL rule that provided a safe harbor for states that sponsor retirement programs for workers. On May 3, 2017, the U.S. Learn what this may mean for you and your business.

Retirement 40

Retirement ATS Compliance Training 40

Zenefits

AUGUST 23, 2017

In this post, we’ll dive into the trickier aspects of setting up a savings program, and how a special kind of plan called a Safe Harbor 401(k) can reduce your risk and make things easier down the road. Here’s what you need to know: Setting up your Safe Harbor 401(k). Safe Harbor Deadlines.

Zenefits 28

Zenefits ADP Retirement Compensation 28

HRExecutive

MAY 17, 2023

We added a 100% match Safe Harbor 401(k) [in 2022] and offer robust PTO; within our industry, we’ll see that employees are offered PTO maybe after a year. We make sure we have inclusive safe spaces where people can share their story, speak about culture, educate each other, learn about differences.

Staffing Software 52

Staffing Software CHRO Hiring Software Recruiting Software 52

ACA Times

DECEMBER 1, 2020

Individual coverage HRA offered to an employee only using the employee’s primary employment site ZIP Code affordability safe harbor. Individual coverage HRA offered to an employee and their dependent(s) (not spouse) using the employee’s primary employment site ZIP Code affordability safe harbor.

Report 130

Report Compliance Compliance Training Wellness 130