Employee Compensation Issues

Higher Social Security taxes for many in 2017, small increase in benefits for recipients

From CCH tax news: The Social Security Administration (SSA) has announced that Social Security and Supplemental Security Income (SSI) benefits will increase by 0.3 percent in 2017. The rates for Old-Age, Survivors and Disability Insurance (OASDI) and Medicare Hospital Insurance (HI) taxes will remain at a combined 7.65 percent in 2017. Because of the increase, […]

NEW OVERTIME RULES

The Department of Labor issued final regulations on May 18th on new overtime rules. ┬áThese rules will become effective 12-1-2016. Under these rules, more employees will be subject to overtime pay than under current law. From the news release today from the DOL: Key Provisions of the Final Rule The Final Rule focuses primarily on […]