Veteran’s Day a Required Day Off in Some States

Veteran’s Day, a day to commemorate and honor those who have served in our nation’s military in the past and present, is November 11. It dates back to 1918 when the fighting ceased on the eleventh hour of the eleventh day of the eleventh month during World War I. For this reason, November 11, 1918 is largely considered the end of the war “to end all wars.” It was in November 1919 that President Wilson declared November 11 as the first Armistice Day. In a speech he stated, “To us in America, the reflections of Armistice Day will be filled with solemn pride in the heroism of those who died in the country’s service and with gratitude for the victory, both because of the thing from which it has freed us and because of the opportunity it has given America to show her sympathy with peace and justice in the councils of the nations…” It was generally celebrated with parades and cessation in business beginning at 11:00 am.

However, much has changed since November 1919. Through the hustle and bustle of modern-day business, it has caused much confusion about how employers should observe Veteran’s Day and what legal obligations they have. In Iowa, Massachusetts, New Hampshire, and Oregon employers may be required to provide veterans a day off if they are normally scheduled. Continue reading

IRS Announces Increased 401k Contribution Limits for 2019

The IRS has announced today that the individual contribution limit for 401(k) plans in 2019 will increase from $18,500 to $19,000.  Individuals age 50 or over will be able to contribute an additional $6,000 per year as a catch up contribution.

There were also changes announced to other types of retirement plans, you can read more details regarding these changes here: Notice 2018-83.