For the first time since 2015, the maximum employee contribution to defined contribution plans — such as 401(k)s 403(b)s — will increase by $500, to $18,500 for 2018, with the combined employer and employee maximum (referred to as “all sources”) increasing by $1,000, to $55,000.
Posts tagged ‘public policy’
The Trump administration added a major item to Congress’ to-do list with a September 5 announcement by Attorney General Jeff Sessions that the administration would phase out the Deferred Action for Childhood Arrivals (DACA) policy. Making matters even more difficult was the release on October 8 of President Trump’s letter to House and Senate leaders that included reforms the president would like to see included as part of any legislation addressing the status of DACA recipients.
President Trump initially shared with reporters a high-level overview of his tax plan this past April. From there, representatives from the White House, Republican congressional leadership and tax committee chairs began working together to hash out a tax reform plan.
President Trump has announced his intent to nominate Cheryl Stanton as the Labor Department’s Wage and Hour administrator. Stanton, who currently serves as the executive director of the South Carolina Department of Employment and Workforce, held multiple White House roles under President George W. Bush, serving as the White House’s principal legal liaison to DOL, the National Labor Relations Board and the Equal Employment Opportunity Commission.
The bill, which was introduced on July 20 by Sens. Lindsey Graham (R-SC) and Richard Durbin (D-IL), would allow undocumented immigrants — often referred to as Dreamers — who grew up in the United States the ability to earn lawful permanent residence and provide a pathway to citizenship.
Kaplan's appointment brings the NLRB to a four-of-five-member complement, split 2-2 along party lines. The president's other nominee, William Emanuel, will face a confirmation vote this fall. If he is confirmed, the Board would shift to a Republican majority for the first time since December 2007.
The RFI invites the public to comment on a multitude of questions, including “whether the standard salary level set in that rule effectively identifies employees who may be exempt, whether a different salary level would more appropriately identify such employees, the basis for setting a different salary level, and why a different salary level would be more appropriate or effective.”
On July 19, the Senate Committee on Health, Education, Labor and Pensions (HELP) favorably reported out President Trump’s nominations of Marvin Kaplan and William Emanuel to be members of the National Labor Relations Board (NLRB). Approved in a 12-11 vote along party lines, Kaplan’s and Emanuel’s nominations now advance to the full Senate for consideration.
On June 30, DOL filed its reply brief in the Fifth Circuit in relation to its appeal from the November 2016 federal district court decision granting a preliminary injunction to the Fair Labor Standards Act overtime rule. In the brief, DOL asks the court to affirm that the agency can set a salary threshold, while declining to defend the Obama era rule — stating that it will revise the rule through further rulemaking if the Fifth Circuit confirms DOL’s ability to set a salary threshold.
The opinion letter process, which had been a longstanding practice of DOL, was eliminated during the Obama administration. "Reinstating opinion letters will benefit employees and employers as they provide a means by which both can develop a clearer understanding of the FLSA and other statutes," said Secretary of Labor Alexander Acosta.