United States: In-Plan Roth Rollovers And After-Tax Contributions: Maximizing Deferrals With Limited Future Tax Liability

Plan sponsors seeking to provide employees with the ability to make after-tax contributions to a 401(k) plan may be interested in adding, along with the common Roth contribution feature, non-Roth after-tax contribution and “in-plan Roth rollover” features to their 401(k) plans. These additional features would allow plan participants to save up to $53,000 (for 2015 and as reduced by matching and other employer contributions) annually with limited future tax liability.

By way of background, […]

By | January 12th, 2015 ||

United States: AFL-CIO’s Industry Wide Agreement May Have Wide Reach In Hospitality Industry

Mid-way through 2012, the Hotel Association of New York City and the New York Hotel & Motel Trades Council, AFL-CIO (the “Union”), renewed a seven-year collective bargaining agreement known as the Industry Wide Agreement, or IWA. While the IWA controls nearly all aspects of the employer-employee relationship for covered hospitality organizations, it does much more and can potentially bind the unsuspecting. One important part of the agreement which hospitality employers must heed […]

By | January 12th, 2015 ||

United States: Oregon's Minimum Wage Now $2.00 Per Hour Higher Than Federal Rate

After a January 1st increase of 15 cents per hour, Oregon’s minimum wage now stands at $9.25 – exactly two dollars per hour more than the federal minimum wage rate of $7.25 per hour. That places Oregon near the top of the list of 29 states with minimum wage rates higher than the federal rate. According to the National Conference of State Legislatures, only Washington and the District of Columbia have minimum wage rates […]

By | January 12th, 2015 ||