Webinar: Paycheck Protection Program (PPP) Loan Update & How to Maximize Forgiveness

Employco USA

Employco Webinar, 05/07/2020

Many of you have questions about the Paycheck Protection Program (PPP) loan and we’d like to help break it down by giving you the opportunity to participate in a FREE webinar entitled:

“Paycheck Protection Program (PPP) Loan Update & How to Maximize Forgiveness” with Employco USA.

During this webinar, we’ll:

  • Summarize the law
  • Provide details on the 8-week measurement period
  • Discuss tips to maximize the forgiveness
  • Talk about the rules for the portion of the loan that is not forgiven

You’ll also be able to get some clarity on human resource issues including unemployment and payroll. Employco provides HR and payroll solutions to businesses across the country.

There will be a brief presentation to begin the session, but most of the time will be dedicated to answering your specific questions!

FREE REGISTRATION
You’ll be able to join us at 10:30am CT on Thursday, May 7th from your computer, tablet, or smartphone (you can also dial-in):

REGISTER HERE

You can also use our registration form to submit questions you’d like to see answered/covered during the webinar.

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Managing a Remote Workforce During Quarantine

Employco USA

How to lead your team effectively during the COVID-19 pandemic          

Remote WorkIn 2018, only 24 percent of U.S. workers worked from home on a consistent basis. But, as of last month, 67 percent of employers were taking steps to allow employees to work from home in order to cope with social distancing guidelines. And, as social distancing time frames have been lengthened across the country, employers need to reconsider their new management styles and how to motivate and engage employees who may feel ‘out of sight, out of mind.’

“Leading a team of remote employees will require a bit of a learning curve,” says Rob Wilson, President of Employco USA and employment trends expert. “This is a unique situation that is going to force managers and employers to be adaptive and creative.”

Wilson says that companies need to respond to the COVID-19 quarantine by first adapting their employee handbook and communicating new guidelines and expectations to employees.

“Meet with your department heads, supervisors and HR staff to come up with a work from home policy which can be emailed or mailed to your staff,” says Wilson. “List out expectations regarding timesheets and how work hours need to be recorded. Remind staff that they still need permission to work overtime or to shift their work schedules. For example, if you have employees who are parents that need to take into account their child’s e-learning time, be flexible about letting employees tack on an hour at the start or end of the day, if they need time off midday to manage childcare requirements.”

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Updating the Break Room: Making Your Office COVID-19 Compliant

Employco USA

Employment expert explains what changes companies should implement ASAP

COVID-19While millions of employees are now furloughed or working from home, for essential employees, it’s important to ensure that workplaces are modified to address COVID-19 concerns.

Rob Wilson, President of Employco USA and human resources expert, says that your break room and common spaces should feature verbiage that reflect the new changes to workers’ rights.

“The U.S. Department of Labor (DOL) has issued regulations to implement the paid leave mandates of the Families First Coronavirus Response Act (FFCRA),” says Wilson. “The regulations provide direction for administration of the Emergency Paid Sick Leave Act (EPSLA) and the Emergency Family and Medical Leave Expansion Act (EFMLEA). These new regulations will change your company’s sick leave policy, and you need to make sure that these changes are posted in an easily accessible area for all of your workers to see.

Under the Emergency Paid Sick Leave Act, employers must provide up to 80 hours of paid sick leave to employees who need to take leave from work for certain specified reasons related to COVID-19. And, under the Emergency Family and Medical Leave Expansion Act, certain employers must provide up to 10 weeks of paid, and two weeks of unpaid, emergency family and medical leave to eligible employees if the employee is caring for his or her son or daughter whose school or place of care is closed or whose child care provider is unavailable for reasons related to COVID-19.”

Wilson also encourages companies to contact employees with e-flyers about these changes.

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New Employee-Facing Materials (COVID-19)

Employco USA

Employco USA, Inc.

BULLETIN
April 09, 2020 (UPDATE)

COVID-19

The U.S. Department of Labor (DOL) has issued regulations to implement the paid leave mandates of the Families First Coronavirus Response Act (FFCRA). The regulations provide direction for administration of the Emergency Paid Sick Leave Act (EPSLA) and the Emergency Family and Medical Leave Expansion Act (EFMLEA).

  • Emergency Paid Sick Leave Act: Requires that certain employers provide up to 80 hours of paid sick leave to employees who need to take leave from work for certain specified reasons related to COVID-19.
  • Emergency Family and Medical Leave Expansion Act: Requires that certain employers provide up to 10 weeks of paid, and two weeks unpaid, emergency family and medical leave to eligible employees if the employee is caring for his or her son or daughter whose school or place of care is closed or whose child care provider is unavailable for reasons related to COVID-19.

Employee Leave Request Flyer (NEW): We have created a new flyer that employers can provide to their employees who request leave under the FFCRA. The optional flyer summarizes the documentation that an employee will need to provide to their employer in order to substantiate the leave request. Click the following link to access the Employee Leave Request Flyer.

Required Notice: Each covered employer must post a notice of the Families First Coronavirus Response Act (FFCRA) requirements in a conspicuous place on its premises. An employer may satisfy this requirement by emailing or direct mailing this notice to employees, or posting this notice on an employee information internal or external website. Click the following link to access the Required Notice.

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COVID-19 is Changing Health Insurance and Employee Benefits: Here’s What You Need to Know

Employco USA

Employment expert explains how FFCRA/CARES will impact employee benefits

COVID-19In order to respond to the continuing COVID-19 crisis which has left millions of people out of work and the economy on the brink of disaster, health insurance and employee benefits are being temporarily revamped to mitigate these pressing concerns.

“Through provisions of the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief and Economic Security Act (CARES Act), company benefit plans are experiencing temporary changes geared towards a more employee-friendly offering,” says Rob Wilson, employment expert and President of Employco USA, a employment solutions firm with locations across the country.

Below, Wilson outlines new changes to health insurance plans and employee benefits which have recently been implemented due to the pandemic:

Medical Plan Coverage: “UnitedHealthcare – the nation’s largest insurance company – and other large insurers are waiving cost sharing and copays for coronavirus disease 2019 (COVID-19) treatments,” says Wilson. “While each company differs in how long the waivers will be in place and what other costs will be waived, these announcements are part of a cross-country effort to help individuals access affordable care during the COVID-19 pandemic.”

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Temporary Benefit Plan Changes (COVID-19)

Employco USA

Employco USA, Inc.

BULLETIN
April 08, 2020 (UPDATE)

COVID-19

Through provisions of the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief and Economic Security Act (CARES Act), company benefit plans are experiencing temporary changes geared towards a more employee-friendly offering.

Medical Plan Coverage: UnitedHealthcare – the nation’s largest insurance company – and other large insurers are waiving cost sharing and copays for coronavirus disease 2019 (COVID-19) treatments. While each company differs in how long the waivers will be in place and what other costs will be waived, these announcements are part of a cross-country effort to help individuals access affordable care during the COVID-19 pandemic.

HDHPs and HSAs: Allows telehealth and other remote care services to be covered under a high deductible health plan (HDHP) before the deductible is met, without affecting the HDHP’s compatibility with health savings accounts (HSAs).

OTC Eligibility: Over-the-counter (OTC) medications, along with menstrual care products, will be qualified as medical expenses that may be paid for using HSAs or other tax-advantaged arrangements, such as health flexible spending accounts (FSAs) or health reimbursement arrangements (HRAs).

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Paycheck Protection Program (PPP) Loans

Employco USA

Employco USA, Inc.

BULLETIN
April 01, 2020 (UPDATE)

COVID-19

On Tuesday, March 31, the Department of the Treasury released information and documents related to the high profile Paycheck Protection Program (PPP) loans covered under the CARES Act. Included in the release:

Starting April 3, 2020, small businesses and sole proprietorships can apply.

Starting April 10, 2020, independent contractors and self-employed individuals can apply.

You may want to apply as quickly as you can because there is a funding cap.

You can apply through any existing SBA lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating.

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Webcast: Navigating the CARES Act and COVID-19

Employco USA

Employco Webcast

Coronavirus Aid, Relief and Economic Security Act (CARES Act)

Employco USA

Employco USA, Inc.

BULLETIN
March 28, 2020 (UPDATE)

COVID-19

President Donald Trump has signed the third and largest COVID-19 piece of legislation. The following bullet points summarize the key provisions of the Act.

Coronavirus Aid, Relief and Economic Security Act (CARES Act)

  • Expanded Unemployment Benefits
    • The federal government will provide an additional $600 per week in unemployment benefits – this is on top of what the state will provide to the person in regular weekly unemployment benefits.
    • Example: A laid off worker in Illinois who was earning $577 per week in wages, would normally have been eligible for $272 in weekly unemployment benefits. With the $600 in additional unemployment benefits under the CARES Act, the unemployment benefits could increase to $872 per week.
  • Payroll Protection Loans
    • Companies with less than 500 employees may be eligible to receive a forgivable loan.
    • Loan maximum is lesser of (1) average monthly payroll costs during the prior year x 2.5; or (2) $10 million.
    • Payments under this program exclude sick leave payments made as part of the FFCRA.
  • Direct Payments to Individuals
    • $1,200 for most adults earning less than $75,000 per year (or $2,400 combined for married couples earning less than $150,000).
    • $500 per child.
    • Potential smaller checks for individuals earning between $75,000 and $99,000; and couples earning between $150,000 and $198,000.
  • Employee Retention Tax Credit
    • Refundable payroll tax credit for 50% of the wages on the first $10,000 of compensation.
    • This tax credit is not available to employers that receive the “paycheck protection” loans.
    • Available to employers whose:
      • Operations were fully or partially suspended due to a COVID-19 related “shut-down order,” or
      • Gross receipts declined by more than 50% when compared to the same quarter in the previous year.

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