isolved RELEASE

In this release:

• Payroll: Minumum Wage Alert on Exceptions Report, Secure 2.0 Section 601 & 109 Accommodations
• Human Resources: New “Relationship” Values for Contacts, Addition of Employer-sponsored ICHRA Coverage Override
• Tax: Tax Form Updates

Payroll

Minimum Wage Alert on Exceptions Report 

With this release, we’ve added a new section to the Exceptions Report to alert Partners when an employee is paid under minimum wage!  

Secure 2.0 Section 601 & 109 Accommodations 

Section 601 of the SECURE 2.0 Act allows employees who participate in a SIMPLE IRA plan to designate a Roth IRA as the IRA to which contributions are made. Section 109 of the SECURE 2.0 Act allows a higher catch-up limit to employees who are 60-63 years of age. We’ve added some options to accommodate these situations. If these apply to you, please contact Support for more information.  

Keep an eye out for additional releases in 2025 in relation to Secure 2.0 Act!  

Human Resources 

New “Relationship” Values for Contacts 

We’ve added two new contact relationship types, ‘Ward’ and ‘Civil Union Partner’, to the ‘Relationship’ drop down for all applicable screens including Onboarding, Beneficiaries, etc.  

For those who are curious about what those two terms mean: a ward is a minor the court appoints to the guardian, and a civil union partner is a person who is in a legally recognized partnership, like a marriage.  

This is in preparation for some Life Event updates coming soon!