Newsletter & Blog

  • 2017 HSA Contribution Limits and Minimum Deductibles May 19, 2016 The IRS has released the 2017 inflation adjusted amounts for health savings accounts (HSAs). To be eligible to make HSA contributions, an individual must be covered under a high deductible health plan (HDHP) and meet certain other eligibility requirements. High Deductible Health Plan Coverage An HDHP has a higher annual deductible than typical health plans and a maximum limit on the sum of ...
  • 3 Things for Employers to Know About Vacation Leave May 19, 2016 With summer just around the corner, now is a great time to review existing vacation leave policies. Here are three things employers need to know about vacation leave: 1. Vacation leave is not required under federal law.While vacation days are a common employer-provided benefit, federal law generally does not require either time off or pay for vacation.  2. State ...
  • BREAKING NEWS: DOL Enacts Sweeping Changes to Overtime Rules May 19, 2016 Department of Labor Enacts Sweeping Changes to Overtime Rules for Salaried Employees: Salaried Workers must earn at least $47,476 or be paid OT Wages for every hour over 40 hours worked per week. Wednesday, May 18, 2016: This update to the Fair Labor Standards Act has been in the works for almost a year, and the ...
  • 2016 Limits Released for 401k, Simple IRA, Social Security Threshold, HSA, and FSA January 5, 2016 Social Security The maximum amount of earnings subject to Social Security taxes will remain at $118,500. Health Savings Account The HSA contribution single limit will remain at $3,350 and the family limit will increase to $6,750. The catch up limit for individuals over age 55 will remain at $1,000. Note: To be eligible to have contributions made to ...
  • 2016 Holiday Closings January 5, 2016 Federal Reserve Bank and office closings for 2016 are listed below. Remember, if the Federal Reserve Bank is closed, we must process direct deposit one day early. Your payroll processor will contact you directly, if your processing schedule is affected.     Checkright Federal Reserve  Friday, January 1   New Year’s Day Closed Closed  Monday, January 18   Martin Luther King Day Open Closed  Monday, February 15   President’s Day Closed Closed  Monday, May 30   Memorial ...
  • Employer Guide to Form 1094-C and 1095-C Reporting Requirements under the Affordable Care Act (ACA) October 12, 2015 In January of 2016, one of the major reporting and compliance provisions of the ACA, the Affordable Care Act or Obamacare, will take effect. Some employers will have to provide the IRS and their employees with forms 1095-C, often referred to as a “Health Care W-2,” and form 1094-C, the company summary form. This article ...
  • November Payroll Calendar Unfavorable: Start Planning Early October 4, 2015 November represents a time of pumpkin-spice everything, family, and good food. It also brings with it two Federal holidays, which may result in an earlier check date or submission deadline for your payroll. Check dates that are normally scheduled on a day that coincides with a Federal holiday or weekend are adjusted to the prior ...
  • Proposed Changes to Overtime Eligibility Rules for ‘White Collar’ Workers October 4, 2015 The U.S. Department of Labor is proposing to update the rules governing which executive, administrative, and professional employees (“white collar workers”) are entitled to the minimum wage and overtime pay protections of the federal Fair Labor Standards Act (FLSA). In part, the updated rules would result in an increase in the number of employees who would qualify for overtime pay, by significantly increasing ...
  • Avoiding Employee Misclassification Under the Fair Labor Standards Act October 4, 2015 New guidance is available for employers on how to avoid misclassifying employees as independent contractors for purposes of the federal Fair Labor Standards Act (FLSA), which sets basic minimum wage and overtime pay standards. According to the guidance, most workers are employees under the FLSA.  To determine whether a worker is an employee or an independent contractor under the ...
  • Susan G. Komen Race for the Cure May 31, 2015 Checkright is proud to announce its participation in the 2015 annual Susan G. Komen Race for the Cure, held every May in Richmond, VA. Checkright sponsored each staff member’s registration and encouraged employees to raise pledges for the walk. Checkright also matched the first $500 of employee-raised pledges. Checkright employees raised over $1,300 in donations. ...