December has arrived with a flurry of record cold weather! Santa may still have time to check his list to see who’s naughty and nice, but with a shortened time frame between the holidays this year, you’ll want to make sure you check these HR tasks off your list early early this month.
Make updates on 2014 limits to 401(k) and pension plans
The Internal Revenue Service (IRS) has announced some adjustments to the cost-of-living affecting dollar limitations for pension plans and other retirement-related items for the tax year of 2014. There are some pension limitations that will remain unchanged, but other plan limitations will increase. Get a better understanding of what these changes and limitations are in detail to make the essential updates.
Communicate with employees about disaster-preparedness
Consider communicating with employees about what to do in the case of different disasters or events that are a threat to safety. Check out the Red Cross Disaster & Safety Library.
Go through year-end payroll checklist
Make sure you have completed the tasks on our End-of-Year Payroll Checklist before your last payroll of the calendar year.
Review employee handbook
As the new laws going into effect on January 1, 2014 it is time to review the your employee handbook to see if it needs any updates.