Regulatory and Legislative

Deadline Extended for Comments on DOL Proposal Updating Employee Classification Under FLSA

The Department of Labor’s Wage and Hour Division has extended the deadline to comment on its proposed rule titled Employee or Independent Contractor Classification Under the Fair Labor Standards Act (FLSA). The original deadline to comment was November 28, and is now extended to December 13. Initial highlights of the proposal were announced upon its release.

DOL

Regulatory and Legislative

PBGC Premium Filing Deadlines Change for 2025 Plan Years

The Pension Benefit Guaranty Corporation has issued Technical Update 25-1 that provides guidance on the timing of premium payments for plan years beginning in 2025.

Regulatory and Legislative

DOL Final Rule Updating VFCP Has Left OMB

Department of Labor guidance titled “Adoption of Amended and Restated Voluntary Fiduciary Correction Program” has left the Office of Management and Budget.

Regulatory and Legislative

Retirement Plan Disaster Assistance May Be Available for North Dakota Wildfires and Straight-line Winds

The Federal Emergency Management Agency (FEMA) issued a Major Disaster Declaration on December 24, 2024, for North Dakota.