According to research sponsored by NAPEO, 14 – 16 percent of small businesses are now using Professional Employer Organizations (PEOs). What factors are driving businesses to outsource HR and how does using a PEO benefit them? Increasingly complex regulatory environment Many small companies are …
PEO Certification Benefits Small Businesses
Employers that outsource their HR, payroll and benefits administration to a Professional Employer Organization (PEO), will have additional protection and benefits with the Small Business Efficiency Act (SBEA). Here’s an overview of how the new law helps companies working with PEOs. IRS …
Will the Illinois Health Insurance Exchange Survive?
If your business counts on the Illinois Exchange for health insurance, Aetna’s recent withdraw is unnerving. Aetna’s announcement comes shortly after UnitedHealthcare’s departure and the announcement that Land of Lincoln will no longer be offering plans. The events leading up to each departure is …
Chicago Minimum Wage Increase Impacts Employers
Small businesses in Chicago are coping with the latest minimum wage increase to $10.50. The current federal minimum wage is $7.25, but local and state governments can vote to increase wages above the federal level. In December 2014, Chicago City Council approved the Minimum Wage Ordinance raising …
Illinois Will Soon Be Mandating 401K Plans
The Illinois Secure Choice Savings Program has been delayed. A pilot program is anticipated to begin in 2018 with enrollment beginning in phases in 2018 and 2019. Dates and information are not ready available as the Senate moved in a vote in May of 2017 to roll back an Obama-led Department of Labor …