Employee Benefits Changes in 2024: New Requirements for Part-Time Employees and Independent Contractors - McDermott Will & Emery

Employee Benefits Changes in 2024: New Requirements for Part-Time Employees and Independent Contractors

Overview


If you employ part-time workers and/or engage independent contractors, sit up and take note: 2024 will bring significant changes to how you manage your workforce. The US Department of Labor’s revised Independent Contractor Rule introduces additional uncertainty as to how the agency and perhaps courts will decide independent contractor misclassification disputes, while provisions of the SECURE 2.0 Act will simultaneously impose a new mandate for employers to provide part-time workers with expanded access to retirement benefits.

In this webinar, McDermott Partners Brian J. Tiemann and Joseph K. Mulherin, along with Tom Robertson of Graystone Consulting, discussed the steps employers must take to ensure compliance with these new regulations taking effect in 2024.

Topics included:

  • How the SECURE 2.0 Act expands the criteria under which employers must offer part-time employees the opportunity to participate in employer-sponsored 401(k) and 403(b) retirement plans, starting this year
  • The US Department of Labor’s changes to its Independent Contractor Rule, set to take effect on March 11, compliance considerations, tips for strengthening the independent contractor argument and mitigating misclassification risks
  • Other benefits considerations employers must be aware of if required to reclassify workers, such as the mandate to provide employee health insurance under the Affordable Care Act

SPEAKERS


Tom Robertson, Financial Advisor, Workplace Advisor – Equity Compensation, Graystone Consulting

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