2/8/2018: Manage employee documents in Notes, capping your 401(k) and why you should stop putting off that gym membership!
You can now attach files to employee Notes
We’ve added the ability to upload a file to Notes! You can now upload employee files and attach them to Notes with the relevant context. We’ve got a few categories you can select from including:
- Offer Letter
- Performance Review
- Stock Option Documents
After adding attachment to Notes, you’ll be able to see it in the employee’s profile and can access it from there. You can also access the attachment via the Documents section of the employee’s profile. All documents added to employee Notes will be hidden by default.
We now cap employer matches on 401(k) contributions for Highly Compensated Employees. Who’s a Highly Compensated Employee? According to the IRS, they are individuals who:
- Owned more than 5% of the interest in the business at any time during the year or the preceding year, regardless of how much compensation that person earned or received or;
- in the preceding year, received compensation from the business of more than $115,000 (if the preceding year is 2014) and $120,000 (if the preceding year was 2015, 2016, 2017 or 2018); or
- if the employer so chooses, was in the top 20% of employees when ranked by compensation.
New York Health & Racquet Club
If you’re considering offering subsidized New York Health & Racquet Club memberships to your employees, you might want to hustle — their prices will be increasing for companies who offer this perk after March 1, 2018. As long as you select an effective date before then, you’ll lock in the current rates.
If you’re already offering this to your employees:
1. Go you Glen Coco, that’s great!
2. Your prices won’t be changing and will stay the same for at least the next 24 months!