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Mar 21, 2024

California Legislative Updates for Payroll

Speaker: Christine Stolpe, CPP, CEO/Owner of Wages Creek. Passionate about furthering an understanding of payroll, Christine Stolpe, CPP has been working in some fashion of payroll for the past 25+ years and enjoying watching the profession blossom through business intelligence, social media and personal fortitude.

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Apr 18, 2024

Are Paycards Still Relevant

Happy Hour at the Yard House – Spectrum afterwards with complimentary drinks! Sponsored by rapid!

Sponsor:

https://www.rapidpaycard.com/

Speaker:  Burke Rice brings to his role more than 30 years of sales, sales management, operational oversight, and entrepreneurial experience. In his early career, Burke worked in banking and public accounting with Bank of America, USBank, and Grant Thornton LLP.

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What's New

Nov 18, 2023

California Expands Paid Sick Leave in 2024

Effective January 1, 2024, employees in California will be entitled to additional paid sick leave (PSL). The amount of PSL that an employee can take in one year will increase: the use cap will increase to 40 hours or five days in a year from 24 hours or three days in a year [S.B. 616, L. 2023].

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Nov 18, 2023

IRS Announces 2024 COLAs for Transportation Fringes, FSA Deferrals

For 2024, the amounts that may be excluded from gross income for employer-provided qualified transportation fringe benefits and qualified parking increase to $315 per month ($300 in 2023).

For plan years beginning in 2024, the dollar limitation for voluntary employee salary reductions for contributions to health FSAs increases to $3,200 ($3,050 in 2023). For cafeteria plans that permit the carryover of unused amounts, the maximum carryover amount increases to $640 ($610 in 2023).

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Nov 18, 2023

IRS Announces 2024 Retirement Plan Contribution, Benefit Limit

The IRS announced the changes to the dollar limits on benefits and contributions under qualified retirement plans, as well as other items, for tax year 2024 [Notice 2023-75, 11-1-23].

IRC §415, which provides for dollar limits on benefits and contributions under qualified retirement plans, requires that the IRS annually adjust these limits for cost-of-living changes. The IRC also requires various other amounts to be adjusted at the same time and in the same manner as these dollar limits.

The limitation on the exclusion for elective deferrals under §402(g)(1) (e.g., §401(k) and §403(b) plans) increases to $23,000 (from $22,500).

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Oct 23, 2023

OCSS Releases Revised IWO and Instructions

The Office of Child Support Services (OCSS) released a revised version of the income withholding order for support form (IWO) and its instructions with no substantial changes [OCSS, AT-23-13, 10-5-23]. The revised IWO expires August […]

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Oct 23, 2023

Wage Base Increases to $168,600 for 2024

The Social Security Administration (SSA) announced on Thursday, October 12, that the 2024 social security wage base will be $168,600, which is an increase of $8,400 from $160,200 in 2023 […]

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