Regulatory Updates

DOL Withdraws Independent Contractor Rule

The Department of Labor (DOL) Wage and Hour Division is withdrawing the independent contractor rule that was scheduled to take effect on May 7, 2021. The rule had previously been delayed from its original effective date of March 7, 2021. The withdrawal of the rule is scheduled to be published in the Federal Register May 6, 2021.

The rule was published January 7, 2021, in the Federal Register. Its intended purpose, as described by the DOL at the time, was to clarify distinctions between employee and independent contractor status under the Fair Labor Standards Act (FLSA).

After having delayed the effective date, on March 12, 2021, the DOL published a proposal to withdraw the rule and requested comment. The DOL states it received over 1,000 comments supporting the withdrawal and numerous comments opposing the withdrawal. Upon review of the comments, the DOL has now finalized the withdrawal of the rule, stating that “the Rule is inconsistent with the FLSA’s text and purpose, and would have a confusing and disruptive effect on workers and businesses alike due to its departure from longstanding judicial precedent.”

News

FuturePlan by Ascensus Appoints Aaron McIsaac as Divisional Vice President for Southern California

Experienced Sales Leader Will Continue to Oversee Organization’s Northwest/Central Region

FuturePlan by Ascensus—a leading national retirement third-party administrator (TPA) that specializes in the delivery of customized retirement plan consulting and administration services—announces that Aaron McIsaac will assume divisional vice president (DVP) responsibilities for the organization’s Southern California region as a result of DVP Greg Taylor’s planned retirement. The change is effective June 30, 2021.

Health and Benefits Updates

Several Health Savings Bills Proposed

Several Health Savings Bills Proposed

Senator Ben Sasse (R-NE) recently introduced two bills aimed at providing more flexibility for the use of health savings accounts (HSAs).