August, 2011: CHICAGO, IL & MEQUON, WI - WaterstoneHR is changing its name to EmPowerHR as it transitions to EmPowerHR’s broader service platform.  The two companies merged earlier this year.  

“The EmPowerHR name speaks to the breadth and depth of our services,” said Scott Rasmussen, Partner, EmPowerHR.  “We are empowering our customers with a suite of HR services and solutions to meet the needs of the small business market.”

Serving more than 10,000 employees nationwide, Chicago-based EmPowerHR is one of the largest privately held Professional Employer Organizations (PEO) and Human Resources Outsourcing (HRO) organizations in the Midwest. With more than 15 years in the industry, its expertise and strategic partnerships deliver cost-effective solutions to meet client needs in HR, employee benefits, payroll and workers’ compensation matters.        

Click Here to read the rest of "Waterstone Changes Name to EmPowerHR" press release

January, 2011: CHICAGO, IL & MEQUON, WI, JANUARY 26, 2011 - WaterstoneHR, a leading, privately-held Professional Employer Organization (PEO) based in Mequon, Wisconsin, today announced its merger with EmPowerHR, one of the Midwest’s largest privately-held PEO and Human Resources Outsourcing (HRO) organizations.“This merger will allow us to provide clients with a broader array of services and increased buying power to help them succeed in this challenging economy,” said Scott Rasmussen, president and chief executive officer, WaterstoneHR. “Our customers will experience the best possible solution: the expanded resources of a larger organization combined with our hallmark, high-touch service that allows them to focus on what they do best,” he
said.

The combined company, which will retain the WaterstoneHR and EmPowerHR names, will have offices in Chicago and Mequon. Robert Cerone, formerly president and chief executive officer, EmPowerHR, will now serve as President and CEO of EmPower Group, the new parent company of EmPowerHR, WaterstoneHR and cSIG HR Solutions.

“Adding WaterstoneHR to the EmPower Group family combines two leading organizations that share a common goal: to provide clients the highest level of HR services and expertise the industry has to offer,” said Cerone. “As the PEO and HRO sector continues to consolidate, we are confident that this merger will further enhance our ability to serve clients in Chicago, Milwaukee and the Detroit metro area, strengthening our Midwest footprint. And as we continue to grow, clients in the Midwest, Austin, Texas and throughout the U.S. will benefit from our enhanced technology platform, greater economies of scale and other value-added services,” said Cerone. Waterstone Group, a technical staffing firm that founded WaterstoneHR, is not part of this merger and remains an independent company.

Click Here to read the rest of "WaterstoneHR and EmPowerHR Merge" press release

Please click the link to read the rest of the article: www.reuters.com/article/pressRelease/idUS123762+08-Apr-2009+MW20090408

Decemeber 16th,  2010: On December 16th, the U.S. House of Representatives passed H.R. 4853, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, by a margin of 277-148. This bill extends many provisions within the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) and the Jobs and  Growth Tax Relief Reconciliation Act of 2003 (JGTRRA) for a 2-year period. The Senate previously passed the bill, which now awaits President Barack Obama's signature. The bill will prevent many tax increases from occurring January 1, 2011. The below list of provisions that may be of particular interest to EmPowerHR  clients and their employees:

* Section 127, Employer-Provided Education Assistance – Allows employees to use up to $5,250 in employer-provided tuition assistance – tax-free – for graduate, undergraduate or certificate level education and training.

* Deductible Education Expenses – Allows assistance from certain scholarship programs to be excluded from income. Qualified tuition reductions for certain education provided to employees are also excludable from income.

* Federal Unemployment Benefits – Extends benefits for an additional 13 months, through December 2011, and maintains the current cap of 99 weeks of total benefits.

* Employer-Provided Child Care Credit – Allows a credit of 25 percent for childcare expenses and 10 percent for child care resources (not totaling more than $150,000) for acquiring, constructing, rehabilitating or expanding property which is used for a child care facility.

* "Make Work Pay" Credit – Terminates the credit and replaces it with a 1-year payroll tax reduction that will reduce the employee share of the FICA payroll tax by almost one-third, by 2 percentage points – down to 4.2 percent. For IRS guidance regarding the 2011 payroll tax table, please click HERE.

* Expansion of Employer-Provided Mass Transit and Parking Benefits – Allows employers to reimburse employees for transit-related fringe benefits up to $230 per month.

* Employer Wage Credit for Active Military Reservists – Provides eligible small business employers (employers with 50 or fewer employees) with a credit against the taxpayer's income tax liability for a taxable year in an amount equal to 20 percent of the sum of differential wage payments to activated military reservists.

* Employer Adoption Tax Credit – Allows employers to exclude from income adoption expenses paid by an employer. The EGTRRA increases the credit from $5,000 ($6,000 for a special needs child) to $10,000, and provides a $10,000 income exclusion for employer-assistance programs. The Patient Protection and Affordable Care Act of 2010 extends these benefits to 2011 and makes the credit refundable.

* Work Opportunity Tax Credit (WOTC) – Allows employers to claim a work opportunity tax credit equal to 40 percent of the first $6,000 of wages paid to new hires of one of nine targeted groups. These groups include members of families receiving benefits under the Temporary Assistance to Needy Families (TANF) program, qualified veterans, designated community residents, and others.

By: Mary O’Keefe – Director of Benefits, EmPowerHR

May 17th, 2010: The Health Care Reform and Reconciliation Act provided key provisions for grandfathered plans. Although much more guidance from the federal government is necessary some general provisions have been released. Below is a summary of grandfathered plans and what provisions affect them.
What plans are grandfathered?
Grandfathered plans are defined as a group health plan or individual coverage that was in effect
on March 23, 2010. This includes both fully-insured and self-insured plans.

Click here to read the rest of EmPowerHR's,  "Health Care Reform Update"

 March 28th, 2010: Last week, President Obama signed into law sweeping legislation that will make changes to our  nation’s health care system and provide coverage to nearly 32 million Americans...The law will  impact every workplace and every employee. It will require all individuals to have health insurance coverage by 2014... As a client of EmPowerHR, We will help you understand the new law, how it will be implemented and how it may affect your business. The new law is complex and leaves several questions unanswered. Some aspects of the new law will take affect quickly, while others will unfold over the next several years...

Click Here to read the rest of EmPowerHR's "Health Care Reform Update"

March 23rd, 2010:  On March 18, 2010, President Obama signed the "Hiring Incentives to Restore Employment Act" or  "HIRE Act", an $18 billion jobs bill, into law. The essential provisions of the HIRE Act are as follows:

 1. Exempts employers from paying the employer share of Social Security employment taxes on wages paid in 2010  to newly hired qualified employees who were previously unemployed. The amount  of Social Security taxes eligible for this payroll tax forgiveness is  6.2% of FICA wages ($106,800 FICA wage cap) or a maximum credit of $6,621.00.

 A "qualified" employee is one who:

- Begins employment after February 3, 2010 and before January 1, 2011;
- Was previously unemployed for more than 40 hours during the 60 days prior to his or her start date;
- Does not replace a current employee (unless that employee was separated from employment voluntarily or for cause); - Is not  related to the employer or directly or indirectly owns more than 50% of the business;                                                                              - A hire that may have previously been laid off
- May be hired for full or part time.

2. Provides employers with a tax credit up to $1000.00 for retaining qualified unemployed workers.  The workers must be employed by the employer for a period of not less than 52 consecutive weeks, and their wages for such employment during the last 26 weeks of the period must equal at least 80% of the wages for the first 26 weeks of the period.  This tax credit is a Section 38(b) business tax credit which will be available to most employers on their 2011 income tax return.  

If your company works with a PEO
Included in this legislation is specific language allowing each business working with a PEO the same benefit as if the business was not in a PEO relationship.  Thus, you will receive the credit for hiring qualified employees, which we will administer for you through our payment of Social Security taxes.  Attached is a checklist that we believe covers the information that we will need to process your tax credit. We will keep you updated on additional information obtained by us and additional reporting requirements that may be released. 

If you have any questions, please don't hesitate to contact our CFO, Janis Kanzler at 847.818.0707 x 19 if you have any questions concerning this credit. Or email us at info@empowerhr.com