Statute requires employers to pass on at least 80% of the inflationary adjustment in wages and benefits and the corresponding increase in the employer’s share of FICA taxes, Medicare taxes, state and federal unemployment taxes and workers compensation premiums. It can also be used for retention and recruitment bonuses or tuition reimbursement.
Circle of Life will be putting 100% of this increase towards wages for DSWs, by way of permanent increases in hourly pay rates/wages, and associated taxes benefits.
The estimated dollar amount of revenue that Circle of Life received for the framework wage and inflationary updates for services delivered between 1/1/2022 and 3/31/2024 is $25,000.
If any DSW has questions about this, please contact John DeLeeuw (Director of HR) at 612-871-2474.
