Premium financed life insurance can be a powerful tool for high-net-worth individuals looking to secure large life insurance policies without tying up or liquidating their assets to pay premiums. At its most basic level, premium financed life insurance involves taking out a loan from a lender to cover the cost...
Employer Alert: Additional Employer Posting Requirements Started on January 1, 2024
The Minnesota Department of Labor and Industry established a new posting requirement for all employers with more than 50 full-time equivalent employees. This new posting requirement went into effect on January 1, 2024. The new poster is aimed at raising awareness for the services offered by the Minnesota Department of...
Employer Alert: Minnesota’s New Paid Family and Medical Leave Law Requires Employer Action as Early as 2024
This year, the Minnesota legislature adopted a new law to create state Paid Family and Medical Leave (“PFML”). Specifically, the law provides employees with partial wage replacement for a minimum of twelve weeks (up to twenty weeks) of leave in a fifty-two week period for medical leave, bonding with a...
Employer Alert: Preventing Pay Discrimination Act
Effective January 1, 2024, Minnesota’s new Preventing Pay Discrimination Act prohibits employers, employment agencies, and labor organizations from inquiring into, considering, or requiring disclosure of an applicant’s pay history for the purposes of determining wages, benefits, salary, or other compensation.
Employer Alert: New Earned Sick and Safe Time Statute
This year, the Minnesota legislature passed new Earned Sick and Safe Time (“ESST”) laws. Effective January 1, 2024, Minnesota employers must provide paid leave to employees who work in the state. The law provides up to 48 hours of paid leave per year for covered employees and the time can...