10:30AM (Pillar) Pathman Lewis:Short Term Compensation Plans: A Tool For Business Re-Opening

Short Term Compensation Plans:  A Tool For Business Re-Opening

featuring Aaron Tandy | Pathman Lewis

The CARES Act has expanded federal funding for Short Term Compensation Plans.  Learn how a short term compensation plan through the Florida Department of Economic Development could be a helpful business re-opening tool to manage your payroll and staff needs.   

+    Definition of Short Term Compensation Plan

+    Section 2018 of the CARES Act provides federal funding for states like Florida that have STC programs in place through December 31, 2020.

+    Florida’s SCT program is authorized by Fla. Stat. 443.1116 as part of a voluntary program to retain workforce even when hours are reduced.

+    Eligibility Requirements under Florida’s STC program run through the State Department of Economic Opportunity (“DEO”)

+    Considerations for making use of an STC in transitioning to re-opening businesses full time

+    Benefits to Employer (retain employees during a temporary slowdown and avoid having to recruit and train new employees when business conditions improve)
 

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