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ARE YOU READY FOR 2013?
Now that 2012 has come to a close, we want to make sure that your business is prepared to hit the ground running in 2013. Below is a "To-Do" list that we at NFC have deemed the TOP 10 PRIORITIES employers should focus on to prepare effectively for the New Year.
Please Email or Call Us at 973.564.9100
Should You Need Any Assistance in
Preparing Your Business for 2013.
1 Update Your Fair Credit Reporting Act ("FCRA") Forms
As of January 1, 2013, employers are required to use the updated FCRA forms for all background checks on applicants and employees. The three new forms are available HERE (Appendices K, M and N to 12 CFR part 1022).
2 Keep Track of the "Gender Equity Pay" Posting and Distribution Requirement Expected to be "Triggered" this Year.
In November of 2012, the New Jersey Department of Labor and Workforce Development announced that employers with 50 or more employees must post notices detailing the employee's right to gender equity in compensation. Although the new law is currently effective, the employer's posting obligation is not yet "triggered" until the Commissioner of Labor issues the "Final Notice of Adoption". CLICK HERE for our E-alert detailing posting and distribution requirements.
3 Check That Your Check is in the Mail
Many employers are entitled to Medical Loss Rebate checks from their Medical Plan insurers. Follow-up with your health insurance provider or your broker to find out if you are entitled to a rebate. Be aware that there are definitive procedures established by the Federal Department of Labor and the IRS that must be followed to handle these proceeds properly. CLICK HERE for our E-alert to learn more on Medical Loss Rebate checks.
4 Update Your Employee Handbook Check your employee handbook and make certain that policies for electronic communications systems, social media, and wage and hour requirements are all up to date. Ensure that your social media policy and all other policies and practices are NLRA compliant. In the wake of Super Storm Sandy, employers should also make sure to include an inclement weather policy in light of the increasing and unpredictable weather that can affect your employees' ability to commute to their workplace. CLICK HERE if you would like to discuss updating your handbook for 2013. 5 Schedule Critical Employment Training Sessions for Q1 Plan sessions now for your managers, employees and Human Resources departments on preventing workplace harassment, managing the risks of Social Media in the workplace, performance management training, conducting effective internal investigations and complying with the Family and Medical Leave Act and the Americans with Disabilities Act. CLICK HERE to schedule training sessions now.
6 Update Your Recruiting Practices Ensure that your offer letters, employment agreements, and any existing commission policies/agreements comply with recent state law requirements. CLICK HERE for assistance in reviewing your recruiting practices. 7 Learn About the Latest Advances in Smart Phone Technology and How this Impacts Compliance with Wage and Hour Laws Educate yourself about the DOL's new smartphone app that lets employees track work time on their phones. Review State and Federal Wage and Hour laws to ensure compliance. CLICK HERE to learn more on the DOL's Smartphone app. 8 Determine if You Can Benefit from the IRS's Voluntary Classification Settlement Program If your company currently has workers classified as "Independent Contractors", evaluate whether the classifications are appropriate, and if not, whether you are eligible to take advantage of the IRS's Voluntary Classification Settlement Program (VCSP). CLICK HERE to learn more on the IRS's VCSP. 9 Be Aware that Flexible Spending Account ("FSA") Contributions Are Now Limited to $2,500 Effective January 1, 2013, healthcare FSA contributions are limited to $2,500. Amend your cafeteria plans and inform employees of this new limit.
10 Work with Your Health Plan Insurer to Provide Employees with Notices of Exchanges and Premium Tax Credits Effective March 1, 2013, employers are required to provide their employees with written notice of their health coverage options including information about health insurance exchanges and premium tax credit eligibility. Prepare those notifications and send in a timely fashion. CLICK HERE for more on ObamaCare and what you need to know to prepare. | 
