Tag Archives: payroll

9 Facts About Florida’s Minimum Wage for 2018

On October 13, 2017, the Florida Department of Economic Opportunity (DEO) released information about a new minimum wage rise which will come into effect on January 1, 2018.

– Florida employees working for minimum wage can expect to see a pay bump from the current $8.10 per hour to $8.25 per hour, making this wage rise a 2% increase. Employees working full-time for that amount will earn $17,160 per annum, or $330 a week.

– The minimum wage increase is related to the DEO’s requirement to comply with Florida law to annually revisit the minimum wage rate and adjust it according to the Consumer Price Index for Urban Wage Earners and Clerical Workers in the South Region.

– The Federal minimum wage will likely remain at $7.25 for the foreseeable future, but employers in the Florida region are obligated by law to pay their non-exempt workers the hourly state minimum of $8.25 after January 1, 2018.

– The increased hourly rate will also impact the calculation of overtime compensation to which a Florida employee is entitled.

– The law further requires that employers place a minimum wage notice in an accessible and conspicuous location wherever there are employees earning minimum wage. This requirement is in addition to the need for posting notices of the federal minimum wage.

– Employers who employ minimum wage earners who receive tips and are eligible for a tip credit under the Fair Labor Standards Act (FLSA), may apply credit to satisfy the minimum wage level up to the allowable FLSA tip credit (which equates to $3.02).

– Employers must still pay tipped employees a wage as directed by the minimum wage standard, minus the tip credits. Tipped employees, as of the 2018 minimum wage rise, will earn $5.23, per hour, a which equates to a 0.15c increase per hour.

– Employers who take tip credits against minimum wage must also provide notice to the tipped employee about the number of cash wages the employer is paying the tipped employee, and the amount the employer is claiming as tip credits.

– Tip credits should not exceed the number of tips received, and the employee retains all tips wherever a valid tip pool exists. Tip credits may not apply to any tipped employee, unless the employer has informed them of the above conditions.

The Importance of Offering Group Benefits to Your Employees

As a business owner, it is important for you to offer your employees the protection they deserve and make your company a place where people want to work. Group Benefit plans are particularly helpful because it allows employees to track, identify and treat any issues on the spot.

The reality is simple; your workers will not be able to give you their best performance unless you make sure to provide them with the right coverage and guidance. Luckily, you are not alone. Companies like Lewis & Palmer are here to help you offer your hard working employees the assistance they need. With the proper plan, every employee can maintain a good health and stay away from conditions in the long term that may limit their work performance.

It is not easy to get the best value without the right coverage, and this is why it can be imperative to hire a group benefits company to intercede. After all, nowadays, employees do desire and expect higher benefit levels. If you are a business owner or if you are in management, it is important to have a clear understanding of the benefits that are valued the most by employees. Here is a list of group benefits that are available for you to provide to hard-working employees.

•    Group life insurance and AD&D
Group Life Insurance can provide financial assistance when an employee faces an unexpected event and needs relief. The proper insurance can make sure that the employees family members are financially protected in case of a tragic event. This kind of insurance is also in a position to provide coverage against serious accidents, which cause the loss of body parts including limbs.

•    Group long term and short term disability
The employees are always concerned about the loss of income in case of a disability. They don’t even wish to think about it. However, accidents can happen anytime, anywhere, and employees might have to face such unfortunate incidents in life. They are unavoidable, but group long term and short term disability have the ability to provide an excellent financial assistance to them in such situations. Therefore, a working person must be provided with some sort of disability insurance.

•    Group medical insurance
It is the responsibility of the employers to take care of their hard working employees. Therefore, it is crucial to provide them with a reliable group medical insurance. When employees fall ill, they will have to spend a considerable amount of money out of their pockets to go for treatments. Group medical insurance can keep them away from that hassle. This would provide an ideal environment for them to focus on their responsibilities instead of anything else.

•    Group dental care
If you want your employees to maintain proper oral health, you should encourage them to visit the office of the dentist on a regular basis. However, dental visits can cost a significant amount of money for the employees. That’s where group dental care insurance can help them with by taking care of the financial expenses that they will have to bear at the office of the dentist.

•    Employee assistance plans
Lastly, you need to consider about providing group employee assistance plans. This would provide them an excellent support when they encounter frustrating situations in life such as divorce, the death of a loved one and parenting. In such instances, your employees would require additional finances to get through the difficult stage in life. The employee assistance plan is in a position to cater that financial requirement and help the employees to stay away from frustration.

Overall, productivity is crucial for your business, and giving your employees the proper guidance to approach any struggles can be incredibly beneficial for your regarding productivity and growth in the long term.

For more information about Group Benefits Plans available, contact Lewis & Palmer and set an appointment for a free consultation to find out more.

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Changes to the Minimum Wage Rate for 2017

The arrival of the new year signifies more than New Year’s resolutions. Those who work low-wage jobs have much reason to celebrate in 2017. Many states are boosting their minimum wage to compensate hard-working Americans. In total, 29 states plus the District of Columbia are hiking their minimum wage rates beyond the $7.25 required by the federal government.

Changes to the Minimum Wage

Changes to state minimum wage laws in 2017 will lift many hard-working Americans out of poverty. In fact, 22 of the 45 states with minimum wage laws on the books will hike their minimum wage in the new year. The overarching trend is toward increased compensation for workers who have been struggling to make ends meet. All-in-all, slightly less than 50 percent of states with minimum wage laws on the books will increase their minimum wage in 2017. This represents a considerable leap from the 33 percent of such states that hiked minimum wage pay rates last year.

A Look at Some Specific Changes

Florida’s minimum wage workers earned $8.05 per hour in 2016. This pay rate will climb just a bit in 2017 to $8.10 per hour. Employees who are eligible for tips will now receive a mandatory minimum wage of $5.08. Those who work low-wage jobs in California will enjoy a minimum wage hike to $10.50 per hour as long as they labor for an employer with at least 26 employees. Minimum-wage workers in the District of Columbia will be compensated with a minimum of $11.50 per hour until July 1, when compensation climbs to $12.50. Workers in Massachusetts and Washington will receive a minimum of $11 per hour beginning January 1.

FLSA, the Minimum Wage and Tip Credits

Organizations subjected to the Fair Labor Standards Act (FLSA) are required to compensate employees with at least $7.25 per hour. This level of compensation is mandatory regardless of whether the state’s laws permit a lower pay rate. Several states are altering the maximum tip credits an organization can count toward employee hourly compensation. If the rules of the FLSA apply to an organization, it can apply a maximum tip credit of $5.12 per hour. Those doing business in states with tip credit maximums that exceed the federal tip credit’s maximum can apply a higher tip credit as long as the difference between the state credit and tip credit is at least $2.13.

For more information about complete payroll, human resources and benefits administration, call the professionals at Lewis and Palmer Benefits. We have Professional resources that can help you manage your employees and business.