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White House Cancels $1.2 Billion in Student Debt for More Than 150,000 Borrowers

White House Cancels $1.2 Billion in Student Debt for More Than 150,000 Borrowers

March 17, 2024
On Feb. 21, 2024, President Joe Biden approved $1.2 billion in student debt cancellation for almost 153,000 borrowers currently enrolled in Saving on a Valuable Education (SAVE) repayment plans, lowering their financial burden. Originally planned for July, this approval relieves borrowers almost six months early. The SAVE plan is an income-driven repayment plan that bases…
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Final Forms and Instructions for 2023 ACA Reporting Released

Final Forms and Instructions for 2023 ACA Reporting Released

October 20, 2023
The IRS has released final 2023 forms and instructions for reporting under Internal Revenue Code Sections 6055 and 6056: Draft versions of these forms were released in July, and draft instructions were released in September. No major substantive changes were made to the final forms and instructions for 2023 reporting. Final Instructions Address New Electronic…
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EEOC Issues Guidance on Artificial Intelligence and Title VII of the Civil Rights Act

EEOC Issues Guidance on Artificial Intelligence and Title VII of the Civil Rights Act

May 21, 2023
On May 18, 2023, the Equal Employment Opportunity Commission (EEOC) issued new guidance aimed at helping employers that use automated systems, including those with artificial intelligence (AI), comply with federal fair employment laws.  The new guidance focuses on preventing discrimination under Title VII of the Civil Rights Act (Title VII), which applies to employers with…
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Insights From Biden’s Proposed $325 Billion Paid Family Leave Program

Insights From Biden’s Proposed $325 Billion Paid Family Leave Program

April 19, 2023
Today in the United States, workers are not guaranteed paid leave by federal law, and many aren’t entitled to unpaid time. To address this issue, President Joe Biden released a budget plan earlier this year, allocating $325 billion to a permanent paid family and medical leave program. The Family and Medical Leave Act (FMLA) is…
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ACA Pay or Play Penalties Will Increase for 2024

ACA Pay or Play Penalties Will Increasefor 2024

March 12, 2023
On March 9, 2023, the IRS released updated penalty amounts for 2024 related to the employer shared responsibility (pay or play) rules under the Affordable Care Act (ACA). For calendar year 2024, the adjusted $2,000 penalty amount is $2,970 and the adjusted $3,000 penalty amount is $4,460. Pay or Play Penalty Calculations Under the pay…
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DOE Proposes Regulations to Reduce Federal Student Loan Payments

January 21, 2023
On Jan. 10, 2023, the U.S. Department of Education (DOE) proposed regulations that would reduce monthly payments for certain federal student loan borrowers. The agency’s proposal overhauls one of the four existing income-driven repayment (IDR) plans—also known as the Revised Pay As You Earn (REPAYE) plan—that aims to make student loan payments more manageable, especially…
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Speak Out Act Signed Into Law

Speak Out Act Signed Into Law 

December 24, 2022
Aiming to improve transparency around illegal conduct in the workplace, the U.S. Congress has enacted a new law, the Speak Out Act, that renders certain nondisclosure and nondisparagement agreements unenforceable. President Joe Biden signed the Speak Out Act into law on Dec. 7, 2022. Contract Enforcement Prohibition In general, the Speak Out Act prohibits courts…
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Missouri Legalizes Recreational Marijuana and Adds Employment Protections for Medical Users

Missouri Legalizes Recreational Marijuana and Adds Employment Protections for Medical Users

December 5, 2022
On Nov. 8, 2022, Missouri voters approved Amendment 3, Marijuana Legalization Initiative, which legalizes recreational marijuana for adults aged 21 and older in the state. The new law goes into effect on Dec. 8, 2022. Employer Impact Amendment 3 does not prevent employers from enforcing drug-free workplace policies or disciplining or firing employees for using…
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Biden Administration Extends Student Loan Repayment Freeze

Biden Administration Extends Student Loan Repayment Freeze

November 30, 2022
On Nov. 22, 2022, the Biden administration announced it would extend the repayment freeze on federal student loans while its debt relief plan remains blocked in the courts. The loan payment pause is now extended until after June or when the administration is able to move forward with its plan. Federal student loan payments were…
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Job Openings Increased in September, Exceeding Forecasts

Job Openings Increased in September, Exceeding Forecasts

November 20, 2022
The U.S. Bureau of Labor Statistics (BLS) recently released its September Job Openings and Labor Turnover Summary. The month’s reported number of job openings increased by 437,000 to 10.7 million, surpassing what economists had forecasted. The September report follows several months of record-high job openings and quit rates. September’s increase in more than 400,000 job…
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