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IRS releases deduction limits for HSAs

June 10th, 2010

The Treasury and IRS have released the 2011 inflation-adjusted amounts for health savings accounts under Code Sec. 223(g). After the application of cost-of-living adjustment rules under Code Sec. 223(g), there is no change in the amounts from 2010. Therefore, for calendar year 2011, the annual limitation on deductions under Code Sec. 223(b)(2) for an individual [Read more...]

Former DuPont chemist pleads guilty to theft of trade secrets; offense carries a maximum prison sentence of ten years, a fine of up to $250,000 and restitution

June 10th, 2010

A former research chemist for E.I. du Pont de Nemours and Company faces up to ten years in prison, a fine of up to $250,000, and restitution after pleading guilty to one count of theft of trade secrets from the science-based products and services company while researching organic light-emitting diodes (OLED), announced the US Attorney [Read more...]

Manpower Employment Outlook Survey reveals continued momentum in U.S. hiring outlook

June 9th, 2010

U.S. employers anticipate favorable hiring plans for Quarter 3 2010, marking three straight quarters of positive survey findings, according to the seasonally adjusted results of the latest Manpower Employment Outlook Survey, conducted quarterly by Manpower Inc. Employers provided a seasonally adjusted Outlook of +6 percent, up from -2 percent during the same period last year. [Read more...]

OSHA fines USPS nearly $500,000 for exposing workers to electrical hazards at two Philly facilities

June 9th, 2010

OSHA announced that it has cited the US Postal Service for workplace safety violations related to electrical hazards found at two Philadelphia, Pennsylvania, facilities following an investigation conducted as a result of complaints received by the agency about both locations. Proposed penalties total $497,000.
OSHA’s inspections of Philadelphia’s Network Distribution Center (NDC) and the Processing and [Read more...]

EBRI says early retiree reinsurance funds likely will be exhausted in 2012, two years before end of program

June 8th, 2010

A $5 billion temporary reinsurance program designed to help employers maintain health benefits for early retirees likely will be exhausted within two years–well before the 2014 termination date for the program, according to a study released on June 7 by the nonpartisan Employee Benefit Research Institute (EBRI). The program is part of the Patient Protection [Read more...]