What is a profit-sharing plan? A profit-sharing plan is a type of qualified defined contribution plan in which you, the employer, contribute to the accounts of participating employees. As the name implies, your employer contributions are generally (but not necessarily) tied to your business's profits, allowing employees to "share" in those profits. Annual contributions to …
An employee benefit plan audit is something a plan administrator should see as a tool to help protect their most valuable company asset – their employees. In 1974, the Employee Retirement Income Security Act (ERISA) was established to set minimum standards for employee benefit plans of private-sector employees. Over the years, it has been amended …
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By Christina Galasso, MST, CPA In an effort to combat sexual harassment in the workplace, and as part of the 2018 Women’s Agenda for New York: Equal Rights, Equal Opportunity, Governor Cuomo signed into law the 2018-2019 NYS Budget updating the State’s sexual harassment laws. On October 1, 2018, the State rolled out their first …
On July 19, 2017, New York State (NYS) released final implementing regulations confirming that employees who regularly work 20 hours or more each week will become eligible for NYS Paid Family Leave (PFL) after working 26 consecutive weeks for their covered employer. Employees who regularly work less than 20 hours per week become eligible on …
Continue reading New York State Paid Family Leave: The Facts
