New exempt status income threshold could impact 401(k) plan costs
$225.00
Description
Abstract: The 401(k) plan employer contribution formula for hourly employees that includes overtime pay may increase plan costs next year — along with overtime pay outlays. That’s because of the Department of Labor’s proposed revised rule increasing the income threshold for overtime pay eligibility that’s expected to kick in after the final rule is published. This short article reviews the proposed rule and what it means for plan sponsors.
Additional information
| Year | |
|---|---|
| Niche | |
| Newsletter | |
| Issue | |
| Word Count |