Maryland Retirement Plan Mandate
Maryland Retirement Plan Mandate…what we know WHEN? Deadline for registration is 12/31/22 Maryland $aves is open 9/15/22 to all that are eligible WHO IS ELIGIBLE? Employer must have automated payroll Employers with 1 or more W2 employee Employers who don’t sponsor a current retirement plan Employers whose business was founded on or before January 1, […]
Compliance Alert: 2023 Affordability Percentage Decreased
In Revenue Procedure 2022-34, the IRS slightly decreased the affordability percentage from 9.61% to 9.12% for 2023. This percentage determines which applicable large employers may face penalties under §4980H(b) for failure to offer affordable coverage as well as which individuals may qualify for subsidized coverage through a public Exchange. BackgroundUnder §4980H, applicable large employers (50 or more full-time […]