Author: Rock Fusco Connelly LLC
Chicago’s Immense Pension Debt
Chicago’s pensions remain among the worst-funded local retirement systems in the nation. The four city-sponsored pension systems – municipal employees, laborers, police officers, and firefighters – along with the Chicago Teachers’ Pension Fund, hold more debt than 44 states combined. According to data provided by the Equable Institute, these funds have a combined pension debt
In-Person Inspection of Form I-9 is Changing on July 31st
Form I-9 verifies the identity and employment authorization of individuals hired for employment in the United States. Accordingly, all U.S. employers must properly complete Form I-9 for each individual they hire for employment in the United States. Since March 2020, virtual inspections of identity and employment eligibility documents have been permitted where all employees were
The Upsides to Downsizing: Why Corporate Clients are Seeking out Smaller Firms
Large corporate law departments are pivoting and hiring outside counsel at smaller law firms due to the rising costs in litigation and high hourly rates for outside counsel at firms with over 500 attorneys. Despite healthy operating budgets from strong profitability, they are seeking the best representation at the best cost, and the answer is
Lawsuits against state can be filed in only two counties under measure signed by Gov. J.B. Pritzker
On June 6, 2023, Illinois Governor J.B. Pritzker signed into law a measure that could make it more difficult for Illinois citizens to challenge their state’s laws. The bill requires lawsuits that challenge the constitutionality of either Gov. Pritzker’s executive orders or the state legislature’s laws to be filed only in Cook County or Sangamon
Work Remote Doesn’t Work
Jamie Dimon, JPMorgan Chase & Co’s CEO, along with David Soloman, Goldman Sachs Group Inc. CEO, made it clear in an interview conducted by CNBC in January, that working from home doesn’t work for younger staff or bosses. Amongst the industrywide slowdown in finance and increasing signs of a recession, many industries are looking to
Documenting Employee Performance Central To Fending Off Potential Lawsuits
In January, 2023, the Seventh Circuit Court of Appeals decided Bragg v. Munster Medical Research Foundation Inc., d/b/a Community Hospital, which highlighted the significant impact that documenting performance can have in an employment discrimination case. After completing a 90-day orientation program for newly licensed nurses, the plaintiff, Catrina Bragg, was denied a full-time position as
US Department Of Labor To Tighten Independent Contractor Rules
This spring, the US Department of Labor is expected to tighten the classifications of employees. Small businesses that have been using loopholes to designate their workers as “gig workers,” or workers who do temporary or freelance work, such as independent contractors who are engaged on an informal or on-demand basis rather than regular employees, could
Property Tax Update 2/27/2023
Our real estate tax team at Rock Fusco & Connelly, LLC continues to work hard fighting to keep your property tax bills as low as possible. Below are key updates on the 2022 session. Cook County: First installment property tax bills have been mailed out. The due date for payment this year was pushed back
New IRS Tax Brackets Take Effect in 2023
Higher federal income tax brackets and standard deductions are now in effect. These measures give Americans a chance to increase their take-home pay in 2023 and shield more of their income from the Internal Revenue Service. The increase in tax brackets is intended to avoid a phenomenon known as “bracket creep,” which happens when taxpayers
Paid Leave for All Workers Act
The Illinois General Assembly recently passed Senate Bill 208 or the “Paid Leave for All Workers Act.” The Act will take effect on January 1, 2024 and provides that employers provide all employees a minimum of 40 hours of paid leave during a 12-month period. The intent of the Act is to establish a minimum