BORROWERSThe Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone. The loan amounts will be forgiven as long as: The loan proceeds are used to cover payroll costs, and most mortgage interest, […]
PAYCHECK PROTECTION PROGRAM (PPP) INFORMATION SHEET Read More »
On March 27, 2020, President Trump signed the Coronavirus Aid, Relief and Economic Security Act (CARES Act) into law to provide $2.2 trillion in federal funding to address the COVID-19 crisis. The CARES Act makes a variety of changes affecting health plans. These changes include: Expanding the types of coronavirus testing that all health plans
CARES Act Makes Changes for Health Plans Read More »
The novel coronavirus (COVID-19) global pandemic has caused organizations around the world to experience disruptions to their normal course of business. Common problems include mandatory remote work, business closures and quarantines, travel restrictions and breakdowns in the supply chain. The issues caused by the pandemic have raised an important question for many businesses: Does the
Force Majeure and Coronavirus Read More »
On March 26, 2020, the U.S. Department of Labor (DOL) issued three new opinion letters to clarify how employer should account for incentive payments and imputed income in an employee’s regular rate of pay. Under the Fair Labor Standards Act (FLSA), an employee must receive one and one-half times his or her regular rate of
Including Incentive Payments in the Regular Rate of Pay Read More »
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