Michigan Enacts Paid Leave Law
The Michigan legislature passed a paid leave law that will impact most Michigan businesses. The law applies to Michigan businesses with at least 10 employees. Hourly employees will earn at least 1 hour of leave for every 30 hours worked. There is an annual maximum of 72 hours of time off, 32 hours of which can be unpaid time. The time off can be used for when the individual is unwell or are the victims of sexual assault or domestic violence as well as to care for family members…(cont’)
Paid Parental Leave: A New Vendor Requirement?
In addition to the new Michigan law on paid leave, big businesses are increasingly requiring their vendors and service providers comply with their own corporate standards, even when they go beyond legal requirements. An increasingly common requirement is paid parental leave. Paid parental leave, which applies equally to women and men, is becoming more popular in business of all sizes. The benefit can range from a few weeks to a few months and while the benefit is generally the same for women and men, sometimes the amount of time each gets can vary.
Careful planning (and sometimes insurance) can make it a positive experience. For employees, it provides a much-desired benefit, especially for those who strongly favor adding this benefit. Employers who are looking to attract, retain and motivate employees, especially younger or more competitive individuals, this type of benefit is often requested and having it in place can make the difference…(cont’)
In This Issue:
- Michigan Enacts Paid Leave Law
- Paid Parental Leave: A New Vendor Requirement?
- Student Loan Repayment, Meet 401(k)
- IRS Updates Safe Harbor Notices for Eligible Rollover Distrubution