The Break Room

Advice and information about getting the most out of work. Stop in often to see the latest posts from people who know the job market inside-out.

IRS Announces Changes to Retirement Plan Hardship Withdrawals

The IRS recently amended the rules applicable to hardship distributions from 401(k) and 403(b) plans. The new hardship distribution regulation relaxes some of the restrictions on the availability of hardship distributions and simplifies the related administrative procedures for processing such distributions beginning on January 1, 2020.
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FLSA's New Overtime Rule

Under the Fair Labor Standards Act (FLSA), the new overtime rule raises the pay threshold for exempt workers to $35,568 per year ($684 per week) from its current level of $23,660 per year ($455 per week). The final rule goes into effect Jan. 1, 2020.
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IRS Releases New Form W-4 for 2020

The IRS has released the final version of the 2020 Form W-4, retitled Employee’s Withholding Certificate, with changes designed to make income-tax withholding easier for employees.
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