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- November 2011 (1)
The Michigan Department of Treasury recently issued a press release stating that Michigan has repaid the $3.2 billion Unemployment Trust Fund balance due to the U. S. Treasury. This is a win-win for the state and its employer communities.
Because this transaction was completed before the end of 2011, the state and its business community will benefit in several ways, including:
- FUTA tax credits restored (rate reduced from 1.8% to 0.6%, effective January 1, 2012)
- Significant interest savings for the state of Michigan and their taxpayers—estimated between $150-$200 million
- Elimination of 2011 solvency tax on Michigan employers
As more information is released by the Michigan Department of Treasury, we will keep you informed in our monthly Compliance Newsletter. If you have any questions, please call your Payroll Team at 888.679.8865.
To learn more about how Oasis assists employers in all 50 states, give us a call to schedule your Free Consultation, 866.709.9401.
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Spider-Man Caught in OSHA’s Web—Is Your Company Next?
In movies and comics, superheroes have never had to worry about wearing the proper Personal Protective Equipment (PPE), until now. The production company of the Broadway show, “Spider-Man: Turn Off the Dark” was recently fined $12,600 by the Occupational Safety and Health Administration (OSHA) for the failure to provide proper PPE for the actors in the Spider-Man production. If OSHA considers a superhero non-compliant with OSHA standards, is your workplace safe from potential OSHA fines? Click here for more information.
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DOL Will Focus on Restaurant Labor Violations in Hillsboro County, Florida
The Tampa District Office of the U.S. Department of Labor’s Wage and Hour Division has announced the launch of an enforcement initiative focusing on the restaurant industry in Hillsborough County, the most populous county in the greater Tampa Bay area. The reason for this initiative is that the division has found significant and systemic violations of the minimum wage, overtime and child labor provisions of the Fair Labor Standards Act at area restaurants. Click here for more information.
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This old adage reminds us that it’s always better to take reasonable precautions to prevent a crisis, versus having to spend a lot of time and effort fixing the problems created after it has occurred. Prevention is the proactive side of insurance that is often neglected and sometimes even forgotten. We can easily become so involved with “the cure (insurance premiums, rates, claims and coverage), that we forget the very important loss prevention strategies that are so beneficial. Insurance is absolutely necessary, and in some cases statutorily required; however, the preventative measures can be easily achieved and help to reduce risk and ultimately costs for our businesses. Click here for more information.
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You may not realize it, but you could be a target of employment lawsuits. Race, gender and retaliation are among the most frequently reported charges. In 2007, the EEOC stated that it settled over 72,000 charges filed, collecting $345 million in compensation for persons who claimed workplace discrimination. Even though we are beginning to see signs of a turnaround, the current weak state of the national economy has caused many employers to continue workforce reductions, so the number of charges from employees separated for economic reasons can also be expected to increase. Click here for more information.
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As Tropical Storm Nicole makes her way towards the U.S., now is a good time to review your company’s business contingency plan. Are You Prepared if Disaster Strikes?
Disaster. It’s such an unforgiving word, isn’t it? Disasters of all sizes cause more than just physical damage to company property; they impact your employees, your customers, and your company image. According to the Institute for Business and Home Safety, an estimated 25 percent of businesses do not reopen following a major natural disaster such as a hurricane, wildfire or flood.
Click here for more information.
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Oasis Outsourcing is committed to providing guidance and resources to assist PEO clients in understanding the often confusing and tedious unemployment claim process. If your company is ever faced with unemployment claims, rest assured that our team of experts will be there to help you through the process.
How Unemployment Works
The Social Security Act of 1935 was established for the purpose of providing monetary benefits for a period of time to workers who had lost their jobs through no fault of their own. As we know, unemployment was not intended to be a government-funded entitlement program but to be supported by a combination of federal and state taxes on an employer’s payroll. Each state administers its own unemployment benefits and has state-specific regulations that affects how its unemployment benefits are administered. Click here for more information.
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