Important Updates for 2023

EEO and the Law Poster Change

Please be aware the EEOC has updated its required poster. Please make sure you have the newest and most up-to-date poster on bulletin boards or digitally on your intranet or other required poster locations. This Know Your Rights poster is required to be posted in a conspicuous place and where it will be visible for employees and applicants for employment.

You can access the poster here: https://www.eeoc.gov/poster

Minimum Wage Updates

Effective Jan. 1, 2023, Minnesota’s minimum-wage rates will increase to $10.59 an hour for large employers and to $8.63 an hour for other state minimum wages.

And here is the new required poster:

https://www.dli.mn.gov/sites/default/files/pdf/minwage_poster_2023.pdf

Minneapolis has their own minimum wage which will increase

For Large employers on January 1 from $15.00 an hour to $15.19 an hour

For Small employers the minimum wage will remain at $13.50 then move to $14.50 per hour in July 2023

St. Paul minimum wage will also increase on July 1:

Large Employers from $13.50 to $15.00 per hour

Micro employers with 5 or fewer employees will increase from $10.75 to $11.50 per hour

New HSA Limits

Take Note: Health Savings Account limits have increased significantly for 2023.

In 2023, you can contribute up to $3,850 for self-only coverage and up to $7,750 for family coverage.

And anyone over age 55 can contribute an extra $1,000 in “catch-up” contribution.

Keep in mind to qualify and contribute to an HSA you must be enrolled in a High-Deductible Health Plan which has an annual deductible of at least $1,400 (single) and $2,800 (family).

OSHA Log Reminder

Every year by January 31, employers must post their OSHA log for employees to review. This is typically posted in break rooms or wherever other required posters are visible. The OSHA log must remain posted until April 30.