If you think financial wellness programs are a fad, think again. The industry consensus is that financial wellness not only produces results for employees, but it positively influences company bottom lines. That’s good news for a number of reasons, especially for the juggernaut of financial stress in the workplace during these uncertain and unprecedented times.…
In July, the U.S. Supreme Court upheld expanded exemptions to the ACA’s contraceptive mandate. Under these exemptions, plan sponsors that object to providing contraceptive coverage based on sincerely held religious beliefs or moral convictions will not be penalized for failing to include contraceptive coverage in the plan’s benefits. The ACA requires non-grandfathered health plans to…
This fall, the U.S. Supreme Court is expected to hear oral arguments in Texas v. Azar, the lawsuit arguing that the Affordable Care Act (ACA) is unconstitutional. In June 2020, President Donald Trump’s administration asked the Supreme Court to strike down the entire ACA due to the elimination of the individual mandate penalty. The administration’s…
SIMA will be closed on Monday, September 7, in observance of the Labor Day Holiday. Your payroll must be processed by 12:00 pm a day earlier than normal to ensure timely processing. Is your pay date on Monday, September 7? There will be no direct deposits allowed on Monday, September 7, due to the Labor Day…
The Paycheck Protection Program is an SBA loan designed to enable businesses to keep their workforce employed during the Coronavirus (COVID-19) crisis. The SBA routinely updates their site with important information regarding the program and loan forgiveness. SIMA encourages clients to consult the SBA website for the latest. Notice: Paycheck Protection Program closed August 8,…
On Aug. 8, 2020, President Donald J. Trump ordered the U.S. Department of Treasury (the Department) to defer collecting certain payroll taxes from Sept. 1 to Dec. 31, 2020. Because the order is for a deferral, the unpaid taxes will need to be recouped at a later time, unless the Department can find an avenue…
In the wake of emergency assistance available to help small businesses in response to the Coronavirus pandemic (COVID-19), the SBA is urging disaster loan applicants seeking federal aid to be alert to phishing campaigns and scams. These malicious actors are impersonating the SBA and its Office of Disaster Assistance to collect personally identifiable information (PII)…
