UPDATE NOVEMBER 15, 2024 – The U.S. District Court for the Eastern District of Texas just issued its ruling invalidating the entirety of DOL’s overtime final rule. In his ruling, Judge Jordan stated that while DOL has the authority to define and delimit the terms of the overtime exemption, “that authority ‘is not unbounded.’” He...…
[Source: R. David Wentz, J.D., CHFC, Tax Favored Benefits, Inc., 07.2016 | Keywords: DOL, Employee Benefits, Retirement] On April 6, 2016 the Department of Labor released a new regulation generally referred to as the “Fiduciary Rule” which, under Employee Retirement Income Security Act of 1974, as amended (“ERISA”), will serve to significantly expand the activities which determine...…
[Source: Bob Evnen, Woods & Aitken LLP, 07.2016 | Keywords: DOL, Employment Policies, Overtime] Recently, the U.S. Department of Labor Wage and Hour Division (DOL) released the highly anticipated final rule amending the Fair Labor Standards Act (FLSA) overtime pay regulations. The newly released rule consists of 496 pages of explanatory preambleÖand 12 pages of...…
[Author: Tom Junge, Iowa Field Director, 2015 | Keywords: Regulatory Compliance, Department of Labor, DOL] Recently, three consumer product (CP) dealers reported that they were audited by the Department of Labor. As a result of these audits, two dealers discovered they were not adjusting commissions for overtime for their technicians and parts personnel. According to one dealer,...…
