Ten Million Americans Lost Jobs in March, Says DOL

More than 10 million Americans lost their jobs and applied for unemployment benefits in March, according to the latest Labor Department numbers. More than 6.6 million Americans applied for unemployment last week as much of the nation was put on shelter-in-place orders and non-essential businesses closed their doors. Predictably, job losses are soaring in restaurants,… Read more »

403(b) and 457 Retirement Plans Under New Scrutiny

The US Securities and Exchange Commission (SEC) recently sent letters to companies that administer Section 403(b) and 457 retirement plans to investigate whether violations of federal securities laws have occurred in administering the plans. The SEC wants details on how the plan administrators choose investment options and police themselves amidst conflicts of interest. The investigation,… Read more »

CA Bill Redefines Standards for Employment Status

A groundbreaking labor bill is making its way through the California Senate that would redefine what it means to be an employee in the state. Passed by the California State Assembly in May, AB 5 would extend labor protections and employee benefits like health care, overtime and minimum wage to many workers formerly considered freelancers… Read more »

House Votes to Hike Minimum Wage

The House passed legislation today to gradually hike the federal minimum wage to $15 per hour by 2025, giving House Democrats a win on a core piece of their domestic agenda. The measure passed by a 231-199 vote, with three Republicans in support and six Democrats opposed. “I commend my colleagues for taking this important… Read more »

DOL Proposes Association Retirement Plans

The Department of Labor on Oct. 22 announced proposed rulemaking to make it easier for small businesses to offer retirement benefits to their employees through association retirement plans (ARPs). Under the proposal, ARPs could be operated by trade associations in a city, county, state or multi-state metropolitan area, or in a particular industry nationwide. Sole… Read more »