New Federal Rule Could Add Costly Burden to Retirement Plans

A new U.S. Department of Labor regulatory effort could impact retirement plans by requiring them to monitor whether plan members access electronic communications, a cost that may be passed on to consumers.

Chair of the Education and the Workforce Committee, U.S. Rep. Virginia Foxx, R-N.C., sent a letter Thursday to the Employee Benefits Security Administration raising concerns about the federal agency’s Request for Information, a document suggesting the agency will add more regulatory burden onto retirement accounts.

More regulations could mean more fees and higher costs for some Americans with retirement plans.

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Virginia Improper Payments for Unemployment Highest in the Country

Virginia has given out $817.3 million in improper unemployment benefits over a three-year period.

The U.S. Department of Labor reported that 43.8% of the unemployment benefits paid out by the state from July 2019 through June 2022 were improper. Department of Labor reported a 21.52% national improper payment rate over the three-year period. Improper payments are payments that should not have been made or were made in the incorrect amount.

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IG Reports ‘Historic’ COVID Unemployment Funds Lost, Congress Investigates

Reports indicate as much as $400 billion in COVID-19 unemployment relief were likely lost to waste and fraudsters. Lawmakers want answers.

Republicans on the House Ways and Means Committee sent a letter to the U.S. Department of Labor demanding documents and information related to the unemployment fraud.

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Federal Court Orders Parts Manufacturer for Two Car Companies to End ‘Oppressive’ Child Labor Practices

The U.S. Department of Labor (DOL) obtained a federal court order to restrict an Alabama-based automotive parts manufacturer for Kia and Hyundai from employing children, many as young as 13, according to a recent DOL press release.

The U.S. District Court for the Middle District of Alabama ruled in a September consent judgment that the company, SL Alabama LLC, a subsidiary of South Korean SL Corporation, violated the Fair Labor Standards Act and engaged in “oppressive” labor practices, the release stated. The ruling follows an investigation by the Wage and Hour Division, and will effectively block SL Alabama LLC from shipping any products within 30 days of violations.

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Commentary: Louisiana’s Bold Move to Overhaul High School Career and Technical Education

America’s high schools have problems. Nearly twenty years ago, Bill Gates observed that the existing model is obsolete — that, even when high schools “work,” the results are too often mediocre. In 2016, The Education Trust found that 47 percent of high schoolers graduated prepared for neither college nor a career. In 2018, Gallup reported that two-thirds of high schoolers described themselves as wholly or partially disengaged. And, just last month, the National Center for Education Statistics concluded that high schools are plagued by grade inflation: Over the past decade, grades have risen to a record high even as math and science performance by 12th graders has edged down.

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Extended Unemployment Benefits Federal Program Ending in Virginia

Approximately 20,000 Virginians who have been relying on extended unemployment benefits over the last several months amidst the coronavirus pandemic will no longer receive those payments come Saturday. 

The Virginia Employment Commission (VEC) announced Wednesday that it has been notified by the U.S. Department of Labor that the Extended Benefits Program in Virginia will end on November 21. 

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Rep. Ilhan Omar Introduces Federal Job Guarantee Bill

Rep. Ilhan Omar (D-MN-05) introduced a bill last week that would create a “job guarantee program” at the U.S. Department of Labor.

The Workforce Promotion and Access Act, sponsored by Omar and Rep. Bonnie Watson Coleman (D-NJ-12), seeks to get more Americans “back to work in living-wage jobs created directly by the federal government.”

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