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State of Compliance for October 2022: Minimum Wages, Social Security Taxes and More

Please note the list below is not intended to be comprehensive. Our team is constantly monitoring for updates that may impact organizations across the country.

In this edition of State of Compliance, your monthly guide to employment legislation, we look at changes at the federal level and across seven states.

This month’s updates include a national 401(k) contribution increase, minimum wage updates and a law affecting PTO accruals in Maine.

Federal HR Compliance Updates
Alaska
California
Maine
New York
Ohio
Vermont
Washington

Federal HR Compliance Updates

On Oct. 21, the IRS announced individuals can contribute up to $22,500 (up from $20,500) to their 401(k) plans in 2023.

On Oct. 13, the Social Security Administration confirmed the Social Security taxable wage base will increase to $160,200 (up from $147,000) in 2023.

Effective Jan. 1, 2023, the minimum hourly wage for federal contractors will rise to $16.20.

Alaska

Effective Jan. 1, 2023, Alaska’s minimum hourly wage will rise from $10.34 to $10.85.

California

Effective Sept. 1, 2023, Senate Bill 1477 will reduce the maximum amount of wages subject to garnishment to the lesser of:

  • 20% of an individual’s weekly disposable earnings
  • 40% of an individual’s weekly disposable earnings exceeding 48 times the state’s minimum hourly wage ($15.50 in 2023)

Maine

Effective Jan. 1, 2023, House Proposal 160 (Legislative Document 225) will require employees to be paid all of their accrued vacation at the end of employment.

New York

Effective Dec. 31, New York’s minimum hourly wage for areas outside Westchester County, Long Island and New York City will rise from $13.20 to $14.20.

Ohio

Effective Jan. 1, 2023, Ohio’s minimum hourly wage will rise from $9.30 to $10.10 and from $4.65 to $5.05 for tipped employees.

Vermont

Effective Jan. 1, 2023, Vermont’s minimum hourly wage will rise from $12.55 to $13.18.

Washington

Effective Jan. 1, 2023, Washington’s minimum hourly wage will rise from $14.49 to $15.74.

 

DISCLAIMER: The information provided herein does not constitute the provision of legal advice, tax advice, accounting services or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional legal, tax, accounting or other professional advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation and for your particular state(s) of operation.