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Tom Licciardello, CFP   

 Crissy
Cristina Licciardello

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The Naughty List
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Cliff Notes, Part 3

From the Desk of Tom Licciardello, CFP

As the final Days of 2012 rapidly run their course, we continue to find ourselves edging ever closer to the "fiscal cliff" as our legislators still find compromise elusive.  For weeks, I remained confident that a solution would be found and rational thought would prevail.  My confidence has been shaken, and now I'm not so sure.

 

There are some things about which I am sure, however.  First and foremost is the recognition of the blessings that I have...a wonderful healthy family, great friends, talented associates, and, of course, honor of serving as the trusted financial advisor for my clients.  I can assure you that I am very thankful for these blessings!

 

I wish each of you a New Year that is filled with Joy, Good Health, a Loving Family and Friends to surround you, and the Prosperity that will allow your aspirations to become reality. 

 

In addition to our latest review of the Fiscal Cliff, we are pleased to include an article by one of our trusted professional colleagues, Terri Pastori, a talented Employment Law expert.

 

As always, Crissy and I, along with our staff, are here to assist you as we begin our New Year. We hope you will have time to take a holiday break to rest, recharge the batteries, and spend some time with loved ones.

 

Fiscal Cliff Update-Things Are Getting Messy 

One last look in 2012

    

 For about a month, markets have seemed fairly confident that politicians would prevent the U.S. economy from tipping over the fiscal cliff, a package of significant tax hikes and spending cuts set to occur automatically in 2013. Risky assets have performed well during that time while yields on perceived safe havens like U.S. Treasurys have been rising. (Bond yields and prices move inversely.) The markets' sanguine view of current political dynamics in Washington, D.C. may be changing, however, as the outlook has suddenly become quite unsettled.

  

·         Last Thursday, Republicans cancelled a vote on their leadership's 'Plan B' legislation to address the fiscal cliff.

·         This makes an agreement before the end of the year highly unlikely, and the path to an agreement even rockier.

·         Risk assets have stumbled this morning in response, and perceived safe havens are getting a bid.

·         Given the deteriorating political dynamics and investors' recent optimism, we believe caution is warranted.

Read the complete report from SEI by clicking here

  

  Tips To Avoid Getting On The Government's Naughty List For Employers

By Terri L. Pastori, Esquire

 It's the holiday season again and as a reminder, here are ten common and sometimes holiday-related missteps that put employers at risk of getting on the "Naughty List" with one or more governmental agencies tasked with protecting employee rights:

1.       Determining that an employee is not eligible for a year-end bonus because of a medical leave of absence taken earlier in the year.

2.       Denying an employee's request for an unpaid day off in observance of a religious holiday because the employer never heard of it before.

3.       Not updating the company's anti-harassment and EEO policies and practices to include "gender identity" as a newly added protected class from discrimination and harassment under Massachusetts law.

4.       Forgetting to provide employees with a copy of any negative information that is added to their personnel files within 10 days pursuant to the Massachusetts Personnel Records Statute.

5.       Using a written job application that inquires about an applicant's criminal background unless one of the authorized narrow exceptions applies.

6.       Failing to pay Massachusetts retail employees premium pay of time and one half of their regular hourly rate for the Monday after Christmas when Christmas falls on a Sunday (e.g. 2011, and calendar ahead for 2016, etc.).  This law applies to certain other holidays as well.

7.       Disciplining employees for an exchange on Facebook complaining that their employer is a "scrooge."

8.       Allowing employees to engage in a Yankee Swap where employees exchange gag gifts that have sexual connotations.

9.       Not appropriately investigating a complaint of sexual harassment stemming from an off-site and after-hours company sponsored holiday party.

10.   And last but not least.  .  .  Hanging mistletoe decorations around the office or at the office holiday party (they can be invitations for trouble).

 

Terri Pastori is an attorney licensed to practice in Massachusetts and New Hampshire.  Her practice involves counseling and representing employers in a wide-range of employment matters, such as employee discipline, terminations, investigation of complaints, drafting and implementing policies and practices, including handbooks, training (e.g. anti-harassment and diversity training), in-house dispute resolution, and the defense of claims of discrimination, harassment, failure to accommodate, retaliation, and breach of employment and collective bargaining agreements, and ERISA violations.  She also advises clients on protecting their intellectual property, including the negotiations and enforcement of non-compete and non-disclosure agreements with employees.  She has represented employers in federal and state courts, the state administrative agencies in Massachusetts, New Hampshire, Maine, and Rhode Island, and before the Equal Employment Opportunity Commission.  She can be reached at terripastori@comcast.net or at 603.498.7378. 

This article, which may be considered advertising under the ethical rules, should not be construed as legal advice.  It is intended for general information purposes only and you should consult with an attorney for guidance specific to your particular situation.

 

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Sincerely,
 
Tom Licciardello, CFP 
Crissy Licciardello 
Licciardello Financial Services
Compass Capital Corporation