The FTC’s ban on noncompete agreements has been struck down for all employers nationwide just two weeks before it was to take effect.
Greater Protections for Pregnant Workers Borne Out of the EEOC’s Final PWFA Rule
The EEOC recently issued its final regulations interpreting the Pregnant Workers Fairness Act (the “PWFA”), a law that became effective on June 27, 2023. The final rule, which becomes effective June 18, 2024, provides clarity regarding: (1) who and what types of limitations and medical conditions are covered under the PWFA; and (2) what accommodations are reasonable.
Double Whammy for Employers: DOL Increases Salary Requirements for FLSA Overtime Exemptions
Lost in the hoopla over the FTC’s noncompete ban announced on the same day (April 23), the United States Department of Labor (“DOL”) unveiled its final rule significantly raising the minimum-salary threshold to qualify for overtime exemptions under the Fair Labor Standards Act (“FLSA”).
FTC Noncompete Ban Already Challenged, Unlikely to Ever Take Effect
On April 22, the Federal Trade Commission (“FTC”) voted 3-2 to ban noncompete agreements, which prevent employees from working for competitors or launching a competing business after they leave a job. The FTC’s new rule is slated to go into effect 120 days after it is published in the Federal Register. Whether the rule will ever actually take effect, however, is uncertain.
Federal District Court in Alabama Declares the Corporate Transparency Act Unconstitutional
The United States District Court for the Northern District of Alabama ruled that the Corporate Transparency Act (CTA) is unconstitutional. Read more about the update here.
FinCEN Rule Update
Since 2016 the Financial Crimes Network of the Treasury Department (“FinCEN”) has issued orders requiring title insurance companies to report certain non-financed residential real estate transactions to entities and trusts above a certain price threshold. These “Residential Real Estate Geographic Targeting Orders” or “GTOs” are limited to certain locations in the United States.
DOL Issues New Test for Employee/Independent Contractor Classification
The U.S. Department of Labor (“DOL”) has published its new final rule regarding whether workers are properly classified as employees, who are subject to the overtime and minimum wage protections of the Fair Labor Standards Act (“FLSA”), or independent contractors, who are not.
Corporate Transparency Act: Final Rule Extending Certain Reporting Dates
FinCEN published a notice of proposed rulemaking on September 28, 2023 and the final regulations were just promulgated on November 30, 2023 that would extend the initial filing period to 90 days. The new rule, along with the CTA, becomes effective on January 1, 2024.
Corporate Transparency Act: SCAM Alert
Unfortunately, there are always people out there looking for new ways to steal our personal information. The latest scam? Sending ominous warnings that personal information must be filed immediately with bogus or non-existent entities pursuant to the Corporate Transparency Act.
Long-Term, Part-Time Employee Required Eligibility Under 401(k) or 403(b) Plans — Update
The Internal Revenue Service on November 27, 2023 published proposed regulations that would provide definitions under Section 401(k) regarding the long-term, part-time employee rules, recently enacted under the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) and SECURE Act 2.0 of 2022 (“SECURE 2.0”).