2019 Year-End Checklist

As 2019 wraps up, FutureSense has compiled a checklist of year-end items that should be addressed.

  • HR Tasks

  • Payroll

  • Compliance

  • Benefits

General HR Tasks
  • Start Strategic Planning for 2020

  • Create a 2020 calendar and schedule out major events and deadlines for 2020

  • Conduct Performance Management

    •  Include Goal Setting and review the Annual Increase in the Process

    •  Celebrate 2019 accomplishments and make sure to recognize and reward hard work this year

    • Include Training where areas of weakness have been identified

  • Review your Talent Acquisition Strategy

  • Update your company Handbook Customized Employee Handbook

  • Update Job Descriptions

Payroll
  • Update all W-2 and W-4 forms

  • Final 2020 W-4 is released for 2020.  A significant change for the 2020 form is that it does not have withholding allowances because employees may no longer claim personal exemptions or dependency exemptions. 

  • Check updated Healthcare deadlines and filing requirements.

  • If your company has more than 50 employees, make sure to audit your FTEs to determine if you have to comply with the new FMLA 2020 Guidelines.

Compliance
  • Review Law updates

    • Make sure your company is adhering to the Department of Labor’s final rule on overtime pay. This guideline, which will go into effect at the start of 2020, regulates the earning thresholds for exempted employees, and also allows employers to count a portion of certain bonuses and commissions towards meeting the mandatory salary level.  New Overtime Rule

  • Look into initiatives or any law changes that will take effect in 2020

  • Review Record Retention Guidelines

    • Contact us for Record Retention Guidelines Contact Us

  • Audit I9 Forms

  • Update and Posters and Bulletin Boards

Benefits
  • Prepare Forms 1094-C and 1095-C and make sure your ACA requirements are up to date.

  • Distribute a health plan summary to each employee.

  • Fill out Form 5500

Call us today!

About FutureSense 

FutureSense is a management consulting firm that provides integrated solutions to build and sustain human capital capacity. The firm can work with you by offering support and guidance to manage your workforce. To learn more about FutureSense, please visit FutureSense.com 

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