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Hello Priscilla,
Hope you had a wonderful Holiday season and are looking forward to the New Year! If you are getting this email and are not an employer in Maine, you can actually do a couple of things at this moment.... a) stop reading, and have a HAPPY NEW YEAR ... or b) share with a friend who is a Maine Employer, and have an AMAZING NEW YEAR! Please encourage them to subscribe to my MAILING LIST.
If you are still with me - buckle in, a few changes are coming down the pike that will affect the way you pay and provide benefits to your employees. Let me preface this by stating this is not a complete list, and I am not an HR consultant, nor do I play one on TV... but I have been seeing some notices, that perhaps in your scurry of ending the year, or performing storm clean-ups, or the million other things you do to operate your business, you may have missed.
To start things off, let's talk about pay:
Maine's minimum hourly wage will rise from $13.80 to $14.15 per hour. While most employers in the contracting/construction industry I know are already paying well above this rate, it's important to note that your State and Federal posters hanging in your workplace are correct, and to be ready to field any questions from your employees.
also note: The minimum salary threshold for exempting a worker from overtime pay is also based on the minimum wage. Starting January 1, 2024, the new minimum salary threshold is $816.35 per week, or $42,450.20 per year.
MERIT (Maine Retirement Investment Trust) takes effect January 2024
"An Act to Promote Individual Savings Accounts through Public-Private Partnership" requires that covered employers with 5 or more covered employees automatically enroll their employees in the Maine Retirement Investment Trust at 5% of their pay.
Since I am not a financial advisor, my true advice is to reach out to one you trust to walk you through any questions you may have regarding this bill.
Maine's Paid Family & Medical Leave Act
On July 11, 2023, Governor Mills signed a budget that includes the creation of a paid family and medical leave program, making Maine the 13th state to establish one. Beginning in 2026, eligible workers in the private and public sector will have 12 weeks of paid time off available to them for family or medical reasons including illness, to care for a relative, or the birth of a child.
Timeline:
- PFML Program Established: October 25, 2023
- Authority Appointed: January 1, 2024
- Rulemaking begins: Spring 2024
- Payroll contributions begin: January 1, 2025
- Benefits begin: May 1, 2026
This bill requires your attention, and it's crucial to plan how you'll handle payroll tracking and administration. I strongly suggest securing a reliable payroll service before 2025 for handling deductions. Payroll services stay informed on regulations, so if you're not already using a trustworthy one, consider reaching out to Payroll Management, Inc, and mention my recommendation when contacting Ray Dube.
Want to learn even more? The Sebago Lakes Region Chamber of Commerce is hosting "Morning Momentum" on January 18th where they will have guest speaker Beth Bordowitz of MERIT to explain all you need to know about how this will impact you.
OSHA Amends Requirements Concerning Submission of Injury and Illness Forms
In July, OSHA issued a final rule that amends its occupational injury and illness recordkeeping regulation to require entities with 20 or more employees in designated industries to electronically submit information from select OSHA injury and illness forms online to OSHA once a year. Under current regulations, employers with more than 10 employees in most industries are required to keep records of occupational injuries and illnesses at their establishment.
Under the new regulation, set to take effect on January 1, 2024, entities with 20 or more employees in certain designated industries will now be required to electronically submit information from the designated forms to OSHA on an annual basis. The specific requirements change depending upon the number of persons employed.
Employers in the affected industries with 20 or more employees are encouraged to check the final rule to ensure their practices are in compliance before this final rule takes effect on January 1, 2024.
Recordkeeping:
2024 W-4 Forms
2024 I-9 Forms
Overwhelmed? Ya... it's a lot. Keeping up-to-date on rules, regulations, and policies as an employer can be a full-time job, and as we get into a more and more regulated world, it will be more difficult to manage. If you need assistance, I highly recommend the folks at Career Management Associates. Feel free to contact Ashley Adams.
Looking forward to 2024:
Navigating the multitude of opinion articles on 2024 can be overwhelming, but here's a concise overview. The construction industry is poised for robust growth and demand. Positive strides in employment are attributed to initiatives like the Workforce Development Grant, AGC Construction Academy, and trade industry scholarships. Opportunities abound in 2024, 2025, and beyond. The crucial focus lies in attracting, engaging, and retaining new talent amid intense competition. Your organization's distinct culture plays a pivotal role. I can assist you by supporting your application for the workforce development grant. Seize this opportunity to provide your employees with the training needed for leadership roles.
Great news! The Maine Workforce Development Grant offers $1,200 in matched funding per frontline worker through 2025. Blazing Trails Coaching is proud to be a partner in this initiative, delivering training and workshops to Maine employers.
Want to know more? Download my Workforce & Leadership Development Programs brochure.
Hope you have a Happy and SAFE New Year! See you in 2024!
Your Partner in Success -
Priscilla Hansen Mahoney
Business Coach for Contractors
Blazing Trails Coaching
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