President Trump Signs Stimulus Package Overview
December 29, 2020
President Trump Signs Stimulus Package, Overview

Recently, President Trump signed into law the new COVID-19 fiscal relief package. The package and its 5,000 plus pages are clearly too lengthy to go through in this format, but below are some bullets providing a 30,000-foot overview of the key provisions of the law and the areas affected:


Unemployment

  • Includes requirement for applicants to provide documentation of employment (not just self-certification as is currently the case) and requires states to verify applicant identity. Also includes Return-to-Work reporting requirements states to have a mechanism for employers to report when someone turns down a job and notifying claimants of the requirement to accept suitable work.
  • Additional federal $300 per week add-on from Dec. 26 through April 5, with an application deadline of March 14.
  • Extends federal funding of 50% of the cost for reimbursable employers until March 14. 
  • Extends and phases out Pandemic Unemployment Assistance (PUA), a temporary federal program covering self-employed and gig workers, to April 5, with an application deadline of March 14.
  • Extends and phases out Pandemic Emergency Unemployment Compensation (PEUC), which provides additional weeks when state unemployment runs out, to April 5.


Stimulus Checks

  • $600 Stimulus Checks/Payments per eligible individual, including dependent children.
  • Stimulus Checks begins to phase out for individuals with Adjusted Gross Income (AGI) of $75,000, $112,500 for head of household, and $150,000 for married filing jointly.
  • Ineligible individuals are nonresident aliens and adult dependents.
  • Retroactively fixes the “mixed status” issue from CARES where a resident is married to a nonresident alien. 


Paid Leave:

Families First Coronavirus Response Act (FFCRA) tax credits for paid leave are extended through March 31, 2021. However, the mandate to provide paid leave is not extended.

  • Allows self-employed individuals to use the prior year’s earnings for determining paid leave amount COVID Tax Provisions.
  • New York State’s Quarantine Leave Law, which requires that New York Employers provide job-protected sick leave to employees who are subject to a mandatory or precautionary order of quarantine or isolation, does NOT expire at the end of the year.
  • Employers should still consider the DOL’s past guidance on the FFCRA while determining how to comply with the new legislation until additional information is released. Additionally, it is critical that employers update their existing FFCRA leave forms to take into consideration the changes. Since employees are not eligible to receive more leave than was provided through the FFCRA, employers must ensure they keep accurate records to reflect leave provided for all employees.


Support for Small Business and Farmers


 Payroll Protection Program Modifications: additional $284.45 billion in funding

  • Extends covered period through March 31, 2021.
  • Clarifies that business expenses paid for with forgiven PPP funds remain deductible.
  • Simplifies the Loan forgiveness process for borrowers with PPP loans of $150,000 or less. 
  • Expands the forgivable expenses to include supplier costs and investments in facility modifications and personal protective equipment required to operate safely.
  • Enhances borrower flexibility by allowing borrowers to select their loan forgiveness covered period between 8 weeks and 24 weeks.
  • Allows PPP borrowers to include additional group insurance payments when calculating their PPP payroll costs. Covering insurance plans such as vision, dental, disability and life insurance.
  • Establishes the loan amount calculation for farmers and ranchers to align more accurately with recent years’ income.
  • Expands PPP eligibility for certain 501(c)(6) nonprofits and Destination Marketing Organizations with 300 or fewer employees that do not receive more than 15% of their revenue from lobbying.
  • Allows forgiveness for PPP loans and Economic Injury Disaster Loans (EIDL), emergency advance grants, preventing small business owners from being left with unexpected PPP loan balances.


Second round of PPP for businesses with 300 or fewer employees and a 25% revenue loss.

  • Max loan of 2.5X average monthly payroll up to $2 million.
  • Accommodations and Food Services may receive a loan up to 3.5X average monthly payroll.

 

Economic Injury Disaster Loans:

Additional $20 billion for the Small Business Administration’s (SBA’s) Economic Injury Disaster Loan (EIDL) advance program

 

Agriculture ($13 billion)

  • $1.5B to purchase food and agriculture products and distribute to Non-Governmental Organizations (NGOs).
  • Allows United States Department of Agriculture (USDA) to carry out a dairy recourse loan program to make purchases of dairy products from processors, packagers, merchants, marketers, wholesalers, and distributors.
  • $100M for Specialty Crop Block Grants.
  • Supports supplemental Dairy Margin Coverage support. Includes $400M to support dairy donations to non-profit entities like food banks.


Employee Retention Tax Credit expanded and extended through June 30, 2021

  • Credit rate increased from 50% to 70% of qualified wages.
  • Increases the limit on per-employee creditable wages from $10,000 for the year to $10,000 for each quarter.
  • Eligibility expansions
  • Reduction in the required year-over-year gross receipts decline from 50% to 20%, including a safe harbor allowing employers to use prior quarter gross receipts to determine eligibility.
  • Increase in the 100-employee delineation for determining the relevant qualified wage base to employers with 500 or fewer employees.
  • Allows certain public instrumentalities to claim the credit.
  • Removes the 30-day wage limitation, allowing employers to, for example, claim the credit for bonus pay to essential workers; Allows businesses with 500 or fewer employees to advance the credit at any point during the quarter based on wages paid in the same quarter in a previous year.
  • Provides rules to allow new employers who were not in existence for all or part of 2019 to be able to claim the credit; and
  • Provides that employers who receive PPP loans may still qualify for the Employee Retention Tax Credit (ERTC) with respect to wages that are not paid for with forgiven PPP proceeds.

 

Financial Services

  • Includes an explicit “hold harmless” provision for PPP lenders.
  • Provides for PPP lender reimbursement by SBA for new PPP loans.
  • Loans of less than $50,000 that is equal to the lesser of 50% of the loan principal or $2,500. 
  • Loans of more than $50,000 and not more than $350,000 equal to 5% of the loan principal. 
  • Loans of more than $350,000 and less than $2,00,000 equal to 3% of the loan principal; and
  • Loans of more than $2,000,000 equal to 1%.
  • Clarifies lender reimbursement by SBA shall be made no later than 5 days post-disbursement.
  • Extends exemption from compliance with the Current Expected Credit Loss (CECL) accounting standard for an additional year, through January 1, 2022. 
  • Extends enhancement of the National Credit Union Administration’s (NCUA’s) Central Liquidity Facility (CLF) by temporarily increasing the CLF’s maximum legal borrowing authority and allowing more credit unions to borrow from the CLF. Access to this facility for an additional year, through December 31, 2021.
  • Extends the temporary suspension of the Generally Accepted Accounting Principles (GAAP) requirements for the Troubled Debt Restructuring (TDR) classifications on loans for an additional year, to January 1, 2022.

 

Rental Assistance

  • $25 billion for states, territories, tribes, and large cities to assist renters. Grantees are able to use funds to provide direct financial assistance or housing stability services to eligible households. 
  • Eligible households may receive up to 12 months of assistance, plus an additional 3 months if necessary, to ensure housing stability. Grantees can only commit to assistance in 3-month increments, after which point any household deemed to be eligible to receive the funds, must re-apply. 
  • An “eligible household” is defined as a renter household that meets the following criteria:
  • Qualifies for unemployment or has experienced a reduction in household income, incurred significant costs, or experienced a financial hardship related to COVID-19.
  • Demonstrates a risk of experiencing homelessness or housing instability; and
  • Has a household income at or below 80 percent of the median income of the area.
  • An application for rental assistance may be made directly to a grantee by either an eligible household or by a landlord on behalf of that eligible household. In general, grantees will provide funds directly to landlords and/or utility service providers. If a landlord does not wish to participate, the grantee may provide funds directly to the eligible household.
  • Extends the eviction moratorium issued by the Centers for Disease Control and Prevention (CDC) through January 31, 2021.

 

Airline Employees and Contractors:

  • $16B for the Payroll Support Program
  • Other Tax Provisions
  • Lower excise taxes for breweries, wineries, and distilleries made permanent
  • New Markets Tax Credit extended for 5 years
  • Work Opportunity Tax Credit extended for 5 years

 

Support for Infrastructure

 

Transportation: ($43 billion) 

  • $10B for Highway Infrastructure programs including $9.8 for Surface Transportation Block Grants to states
  • $14B in Transit Infrastructure Grants ($13.3B urban, $679M non-urban)
  • $2B in grants-in-aid for airports
  • $1B for Amtrak

 

Broadband:

$7 billion for high-speed broadband projects.

 

If you have any questions, please reach out to SimcoHR.


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June 2, 2025
When school lets out, many working parents face a new set of challenges: piecing together childcare, coordinating summer camps, adjusting work schedules, and simply trying to maintain a sense of balance. For employers, this season presents a valuable opportunity to demonstrate empathy and build stronger connections with your workforce—especially your working parents. By offering the right policies, benefits, and workplace flexibility, your company can help parents manage the summer shuffle—while keeping productivity and morale strong. Here are a few impactful ways to make that happen. 1. Offer Flexible Scheduling Options Summer schedules are rarely predictable, especially for parents with younger children or teens involved in day camps, sports, or part-time jobs. Allowing employees to shift their working hours or compress their workweeks can be a game-changer. Early start and end times, four-day workweeks, or staggered hours give parents the flexibility to handle family logistics without sacrificing their jobs. What you can do: Encourage managers to have open conversations with team members about their summer availability. Promote cross-training so employees can support each other during flexible hours or time off. Formalize a “Summer Flex Hours” program to show company-wide support. This kind of trust-driven flexibility not only improves work-life balance but also boosts engagement and retention. 2. Revisit Your Remote or Hybrid Work Policy For companies that support remote work, summer is an ideal time to offer extra flexibility. Parents may need to be closer to home for child supervision or to avoid time-consuming commutes during camp drop-offs and pickups. Even one or two remote days per week can ease the mental load on parents—helping them stay focused and productive during working hours. And it signals a deeper commitment to employee wellbeing. Ways to implement: Offer a seasonal “summer remote work option” if your company is traditionally office-based. Empower department heads to tailor remote work flexibility to their team’s needs. Reinforce accountability and results-based performance to support this model. Tip: Simco is happy to help you review your remote work policy for both compliance and employee satisfaction! 3. Promote and Educate on Dependent Care Benefits Many organizations offer dependent care support, but employees often forget—or aren’t aware—of what’s available. Summer is a perfect time to highlight programs like: Dependent Care FSAs (tax-free childcare reimbursements) Childcare subsidies or stipends Backup care assistance Employee Assistance Programs (EAPs) with parenting or caregiver resources Tip: Create a simple “Summer Benefits Guide” or a quick email campaign highlighting available benefits. If your team uses a digital portal or app, make sure this information is easily accessible and up to date. 4. Plan Ahead for PTO and Team Coverage Summer means vacations—and for working parents, this might be the only chance they get to spend extended time with their families. That’s why it’s crucial to encourage early vacation planning and transparent communication among teams. Strategies to support summer PTO:  Ask employees to submit summer PTO requests as early as possible. Use shared calendars and collaborative tools to coordinate team coverage. Train back-up team members ahead of time to avoid last-minute stress. Consider adding a floating summer holiday or mental health day to give employees a breather. When employees feel supported in taking time off, they’re more likely to return refreshed and ready to re-engage. 5. Build a Family-Friendly Workplace Culture Supporting working parents isn’t just about policies—it’s about creating a culture of empathy and understanding. That starts with leadership modeling flexibility, and continues with teams who respect boundaries and accommodate personal obligations. Ideas to build culture: Create a parent resource group or Slack channel to exchange ideas and support. Share local summer camp or childcare resources in your company newsletter. Avoid scheduling late afternoon meetings that may interfere with family commitments. Celebrate family milestones or kid-friendly moments in a light-hearted way. These small cultural cues can go a long way in helping working parents feel seen, supported, and valued—especially during a season that’s often more stressful than relaxing. Final Thoughts Supporting working parents through summer break isn’t just the right thing to do—it’s a smart business strategy. Offering flexibility, benefits education, and an understanding culture helps companies retain top talent, foster loyalty, and create a healthier workplace for all. Need Guidance? At Simco, we specialize in helping businesses implement people-first policies and scalable benefit solutions. If you’re looking to enhance your workplace support for parents (or all employees), our specialists are here to guide you! Let’s talk about how we can help your workforce thrive—this summer and beyond.
May 30, 2025
Let’s be honest—mid-year reviews often don’t get the attention they deserve. They sneak up between vacations, project deadlines, and Q3 planning. But when done right, these check-ins can be one of the most valuable tools you have for keeping employees engaged, aligned, and growing. They’re not just about checking a box or filling out a form. Mid-year reviews are a chance to reconnect, recalibrate, and reenergize your team—and they can have a big impact on retention and performance. So, how do you make these conversations count? Let’s break it down. Why Mid-Year Reviews Actually Matter Think of the mid-year review as a strategic pit stop. You’ve made it halfway through the year—now’s the time to assess what’s working, what needs adjusting, and where your people want to grow. And here’s why that matters: Companies that implement regular performance feedback see 14.9% lower turnover rates than those that don’t, according to Gallup Employees who receive consistent feedback perform better and are more engaged overall, according to studies conducted by the Harvard Business Review Employees are far more likely to stay when they know their growth is supported The takeaway? People want feedback. But more importantly, they want useful feedback—along with the tools to take the next step forward. What to Ask: High-Impact Questions Performance reviews should feel like conversations, not interrogations. Open-ended, thoughtful questions help create space for honest dialogue. Below are a few ideas to keep the conversation flowing—and meaningful. Goals & Achievements What’s been your proudest accomplishment this year? What challenges have you worked through—and what did you learn? Are we on track with the goals we set earlier this year? Strengths & Value What are you most confident about in your role? Where do you feel you're making the biggest impact? Growth Opportunities Are there any skills you’re itching to develop? Where could we offer more support or resources? Looking Ahead Where do you see yourself a year from now? What kind of training or experiences would help you get there? This isn’t just about reviewing the past—it’s about setting the tone for the future. Turning Feedback into Development: Exploring the Role of Learning Management Systems Identifying growth opportunities during a performance review is just the first step—real transformation happens when you take action on that feedback. One effective way to support employee development is by leveraging a Learning Management System (LMS) . An LMS provides a structured and scalable way to turn feedback into forward momentum—whether you're preparing someone for a promotion or helping them build confidence in new skills. Key LMS features that support performance development include: Personalized learning paths aligned with individual or team goals Access to broad training libraries, including compliance and skill-building content Tools to track progress and measure learning impact Engaging elements like AI assistance, gamification, and peer learning These tools transform performance feedback into growth, helping businesses create a continuous learning culture. Look No Further At Simco , we support our clients through every stage of the performance management journey — from crafting the right review questions to delivering personalized, scalable learning opportunities. Our integrated HCM technology includes the isolved Learn & Grow Module, which features: 89,000+ courses including SCORM and state-compliant training Custom curriculums for individuals and teams AI-driven search and chatbot support Dashboards, reporting, gamification, and more Final Thoughts: Mid-Year Reviews Are a Strategic Lever Mid-year reviews are more than a checkpoint — they’re a chance to re-engage your team, show appreciation, and chart a clear path forward. When you treat them as an opportunity for dialogue, reflection, and action, the benefits ripple across retention, morale, and performance. Want to make your next round of reviews truly impactful? Let’s talk about how Simco can help streamline your process and empower your people.
May 15, 2025
Each spring, New York State enforces a residential burn ban from March 16 through May 14 to help prevent wildfires. As of yesterday, the ban has officially been lifted , but fire safety should remain top of mind. While the Finger Lakes has seen steady rain this week, the risk of fire can still escalate quickly with a few dry, breezy days. If you’re planning to burn brush, enjoy a backyard fire pit, or take part in spring clean-up, it’s important to do so with caution. Why Does the Burn Ban Exist? The annual burn ban is in place to reduce the threat of wildfires during one of the most vulnerable times of the year. In early spring, before trees and vegetation fully green up, dead grass, leaves, and branches are dry and highly flammable. Combined with seasonal winds and low humidity, even small outdoor fires can spark large, fast-moving wildfires—especially in rural areas. This proactive ban has proven to significantly lower the number of wildfires across the state each year, protecting homes, farmland, and natural habitats. What Homeowners Should Do Now With the ban lifted, it’s a good time to: Review your homeowners insurance to ensure you're protected against fire-related damages. Practice safe outdoor burning , such as keeping fires a safe distance from structures and never leaving them unattended. Consider additional coverage for properties with wooded acreage or high-risk features. At Simco , we’re here to help you navigate risks like these—before they become problems. Whether you need a policy review or simply want to make sure your coverage keeps pace with your lifestyle, we’re just a call or click away .

Have a question? Get in touch.