Tag: Social Security

DOL Delays Overtime Rule Until March 2019 In fall 2018, the U.S. Department of Labor, Wage and Hour Division (WHD) announced that it intends to issue a Notice of Proposed Rulemaking (NPRM) in March 2019 to determine the appropriate salary level for exemption of executive, administrative, and professional employees. The WHD stated that it is…

The Social Security Administration (SSA) has announced a correction in the wage base that will be used in computing Social Security taxes for 2018. The corrected amount is $128,400. The SSA had previously announced the 2018 wage base last month. It is highly unusual for any changes to be made after the announcement. The SSA…

Question: For the Medicare Part D notice of creditable coverage that employers need to provide each year, is it acceptable to post the notice on the benefit website to which all employees have access? If so, are there any specific guidelines that we must follow? Answer: Yes, posting the notice on the benefit website would…

Question: Where would we send a new parent to get his or her child’s Social Security number card? Answer: Typically, when the baby is born the hospital will ask whether you want to apply for a Social Security card during the completion of the birth certificate information. If the parents state they do want to apply…

Question: What is the correct month to start Social Security benefits for a 70 year-old retiring employee who wishes to receive maximum benefit: the first of the month in which he turns 70, or the first of the following month? Answer: Social Security Retirement benefits are personalized, and every individual eligible for the benefit should consult directly…

Question: How are Social Security benefit amounts calculated if the older worker continues employment? Answer: The worker’s earnings are first restated in terms of today’s wages to reflect wage growth/inflation. Then, the Social Security Administration (SSA) takes the earnings for the highest 35 years, averages them and divides by 12 to come up with an average…