The Salary Question Ban

The Salary Question Ban

“What’s your current salary?” can no longer be asked when interviewing a candidate for a job.  The law, which bans employers form asking candidates about their salary is an attempt to address the gender pay gap. Women, on average,  still earn about 80 cents to a man’s dollar nationwide, according to the National Women’s Law Center, and the gap has not narrowed substantially in the past decade.

The following states, according to Business Insider, have banned the salary question:

ApplicantStack - Salary Question Ban Map

  • Californiahas banned private and public employers from asking about a candidate’s pay history. The law will take effect in January 2018, according to HRDive.com.
  • Delaware banned all employers from asking candidates about their salary history. The law will take effect in December 2017, according to Duane Morris.
  • Massachusettsprohibited all employers from inquiring about a candidate’s pay history. This law will go into effect in July 2018, according to Mass.gov.
  • New Orleans banned inquiries about all city departments and employees of contractors who work for the city. The rule is already in effect, but, in this case, it only impacts individuals who are interviewing to work for the city of New Orleans, according to WDSU.
  • New York Cityhas banned public and private employees from asking about a candidate’s pay history. The law goes into effect October 31, 2017, Business Insider previously reported.
  • Oregonhas banned all employers for inquiring about a candidate’s salary history. The law goes into effect January 2019according to Jackson Lewis.
  • Philadelphia banned the salary history question for all employers. The rule was supposed to take effect May 23, but a judge halted it temporarily due to a lawsuit from the Chamber of Commerce, according to NBC.
  • Pittsburghbanned city agencies from asking about candidates’ pay history. The rule is effective immediately, but only effects city employees, SHRM reported.
  • Puerto Rico banned employers from inquiring about a candidate’s pay history. The law will go into effect March 2018, according to Jackson Lewis.

New ApplicantStack customers will have applications questionnaires that no longer have the question.  If you would like us to include the question, then please contact support at https://help.www.applicantstack.com/hc/en-us/requests/new

For any existing customer that would like the question removed, please contact us immediately at https://help.www.applicantstack.com/hc/en-us/requests/new and we will remove the question from your application.

IRS Announces 2018 Pension Plan Limitations; 401(k) Contribution Limit Increases to $18,500 for 2018

IRS Announces 2018 Pension Plan Limitations; 401(k) Contribution Limit Increases to $18,500 for 2018

2018 Pension Plan Limitations; 401(k)The Internal Revenue Service (IRS) released the following news release  “IRS Announces 2018 Pension Plan Limitations; 401(k) Contribution Limit Increases to $18,500 for 2018”, which includes the Highlights of Changes for 2018.

 

IR-2017-177, Oct. 19, 2017

WASHINGTON — The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2018.  The IRS today issued technical guidance detailing these items in Notice 2017-64.

Highlights of Changes for 2018

The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift Savings Plan is increased from $18,000 to $18,500.

The income ranges for determining eligibility to make deductible contributions to traditional Individual Retirement Arrangements (IRAs), to contribute to Roth IRAs and to claim the saver’s credit all increased for 2018.

Taxpayers can deduct contributions to a traditional IRA if they meet certain conditions. If during the year either the taxpayer or their spouse was covered by a retirement plan at work, the deduction may be reduced, or phased out, until it is eliminated, depending on filing status and income. (If neither the taxpayer nor their spouse is covered by a retirement plan at work, the phase-outs of the deduction do not apply.) Here are the phase-out ranges for 2018:

  • For single taxpayers covered by a workplace retirement plan, the phase-out range is $63,000 to $73,000, up from $62,000 to $72,000.
  • For married couples filing jointly, where the spouse making the IRA contribution is covered by a workplace retirement plan, the phase-out range is $101,000 to $121,000, up from $99,000 to $119,000.
  • For an IRA contributor who is not covered by a workplace retirement plan and is married to someone who is covered, the deduction is phased out if the couple’s income is between $189,000 and $199,000, up from $186,000 and $196,000.
  • For a married individual filing a separate return who is covered by a workplace retirement plan, the phase-out range is not subject to an annual cost-of-living adjustment and remains $0 to $10,000.

The income phase-out range for taxpayers making contributions to a Roth IRA is $120,000 to $135,000 for singles and heads of household, up from $118,000 to $133,000. For married couples filing jointly, the income phase-out range is $189,000 to $199,000, up from $186,000 to $196,000. The phase-out range for a married individual filing a separate return who makes contributions to a Roth IRA is not subject to an annual cost-of-living adjustment and remains $0 to $10,000.

The income limit for the Saver’s Credit (also known as the Retirement Savings Contributions Credit) for low- and moderate-income workers is $63,000 for married couples filing jointly, up from $62,000; $47,250 for heads of household, up from $46,500; and $31,500 for singles and married individuals filing separately, up from $31,000.

Highlights of Limitations that Remain Unchanged from 2017

  • The limit on annual contributions to an IRA remains unchanged at $5,500. The additional catch-up contribution limit for individuals aged 50 and over is not subject to an annual cost-of-living adjustment and remains $1,000.
  • The catch-up contribution limit for employees aged 50 and over who participate in 401(k), 403(b), most 457 plans and the federal government’s Thrift Savings Plan remains unchanged at $6,000.

Detailed Description of Adjusted and Unchanged Limitations

For more information and details, please see the full article at IRS Announces 2018 Pension Plan Limitations; 401(k) Contribution Limit Increases to $18,500 for 2018