From benefit plan updates to employee documentation, it’s critical to manage a number of policies, procedures, and guidelines to avoid penalties and set the stage for a smooth transition into a new year.
Earlier this year, the IRS announced 2024 employer mandate penalties that apply to all employers with 50 or more employees — otherwise known as applicable large employers (ALE). If you’re a human resources professional at an ALE, it is essential for you to understand these penalties and how they could impact your workplace.