General Updates 1/25/2023

Happy New Year and Happy Carnival Season! We are touching base today to bring everyone up to speed on the latest HR trends.

The Secure Act 2.0 passed in the Lame Duck Congress before the 117th congress convened for the first time earlier this year. In sum, The Secure Act 2.0 raised the amounts eligible for people to save through their 401k. A notable change focuses on individuals without a 401k currently, allowing tax credits for small businesses to start 401k programs. Here is an article noting the significant retirement plan changes and when they’ll become effective. Additionally, here is an article explaining how The Secure Act 2.0 will reshape how employers offer benefits and how employees save for their post-work years. The IRS has also boosted the Standard Mileage Rate for 2023.

Returning to the subject of COVID-19, there is a new variant by the name of Kraken. Here you can find 4 steps to take as employers to curb the spread of the most contagious mutation of COVID-19 yet. It is our belief, along with many others, that COVID-19 will never go away, and will rather, continue mutating into new strains. With a majority of people immunized or having already contracted COVID, the general population has an improved immune system now, compared to the early stages of the pandemic. Disney has just announced a return-to-work policy for at least 4 days a week. Many other companies are starting to follow suit, as Disney is one of the country’s largest employers and are incredibly employee-focused.

Please do not hesitate to reach out to us with questions regarding any of the information above. Wishing you and your family a safe Mardi Gras! Have a wonderful week.

Dave & Teresa