The Connecticut Legislature’s “short session” ended on May 4, 2022. While many bills were proposed that would have significantly impacted the workplace, only a handful have been signed into law. Below is a summary of some key new laws, and
Carmody Torrance Sandak & Hennessey LLP
Carmody Torrance Sandak & Hennessey LLP is a Connecticut-based law firm serving a wide range of businesses, utilities, governmental entities and individuals. With more than 75 attorneys and offices in New Haven, Stamford, Waterbury, Litchfield and Southbury, we practice in nearly thirty specific areas of law, with each lawyer skilled in multiple related areas of practice. Our approach to each client’s issues, however, remains the same. We initiate each matter by crafting a strategic plan in concert with our client so that expectations are clear, client needs are anticipated and the legal process is efficient. In short, we offer clients creative thinking that leads to innovative and solution-oriented results.
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Are you required to pay your Summer Intern?
By Nick Zaino
It’s that time of year when many organizations arrange to hire summer interns. Internships are mutually beneficial in that they provide organizations an opportunity to get extra help during the summer, and they provide individuals an excellent opportunity to gain…
IRS Announces Inflation-Driven Increases for HSAs in 2023
The IRS, in Revenue Procedure 2022-24, has announced increased minimums and limits related to Health Savings Account (HSAs) for the 2023 calendar year. The increases are higher than those in recent years. Here is what employers and employees need…
As crypto enters the compensation world, employers should walk before running
Recent guidance from the U.S. Department of Labor and other developments in the public and private sectors signal that the use of cryptocurrency is starting to gain a substantial foothold in employment and compensation. For employers of all sizes and…
Department of Labor Warns Against Crypto in 401(k) Plans
The U.S. Department of Labor (DOL), Employee Benefits Security Administration, (EBSA), on March 10, 2022 released Compliance Assistance Release No. 2022-01, 401(k) Plan Investments in Cryptocurrencies.
The DOL indicates that it has become aware of firms marketing investments in…
Given the Times, An HR Audit Would Be Prudent
By Nick Zaino & Romania Morley
There is no doubt that the ongoing pandemic has significantly changed the workplace. An increasing number of employees are working remotely, and there has been a high level of turnover in connection with the “Great Resignation”. We also have…
The U.S. Supreme Court Clarifies ERISA’s Fiduciary Duties to Monitor All Plan Investment Options
A unanimous U.S. Supreme Court (8-0, Justice Barrett recused) overturned a decision by the U.S. Court of Appeals for the Seventh Circuit which had dismissed a case brought by plan participants involving the fiduciary obligations of an ERISA plan sponsor…
Important New Requirements for 401k Plans—Is Your Plan Compliant?
In 2022, sponsors and administrators of 401(k) plans should be aware of a newly effective lifetime income disclosure statement, as well as written plan amendments that must be adopted by calendar year plans by the end of 2022.
Enacted in…
The Great Resignation: Ideas for Improving Retention
By Nick Zaino & Romania Morley
The “Great Resignation” reached a peak in November 2021 as the United States Bureau of Labor Statistics (BLS) reported that a record-breaking 4.5 million workers voluntarily resigned from their employment. This represented an increase of almost 9% from October 2021…
OSHA’s “vaccine or test” mandate stayed (again)
Earlier this afternoon, the U.S. Supreme Court issued a stay blocking the Occupational Health and Safety Administration (“OSHA”) from enforcing its “vaccine or test” mandate previously imposed on businesses with 100 or more employees. This case will return to the…