According to the Fair Labor Standards Act (FLSA), employers are responsible for ensuring that their employees are properly classified and compensated. The U.S. Department of Labor’s recent changes to regulations governing overtime-exempt status, independent contractor classification, and tip credit rule further expands wage and hour laws. Failure to comply with these provisions can result in serious consequences, such as costly fines, litigation, and reputational damage.
The recent months have witnessed a flurry of Employee Retirement Income Security Act (ERISA) benefits-related litigation. The Department of Labor (DOL) is getting on the scene with heightened audits and investigations which may breed increased risk of violations for employers, plan sponsors, fiduciaries, and other professionals providing ERISA-governed benefits plans. Likewise, recent court decisions such as the Supreme Court’s ruling on Hughes v. Northwestern University continue to provide guidance to the Court of Appeals in carefully scrutinizing the plaintiff’s allegations.
The enactment of the 2023 Omnibus Bill, a comprehensive spending bill funding the federal government for the fiscal year 2023, is presenting a huge advantage for Employee Stock Ownership Plan (ESOP). The Omnibus Bill enumerates several provisions aimed at educating businesses and workers and providing clarity and transparency in creating and administering an ESOP.
In this LIVE Webcast, a panel of thought leaders and professionals brought together by The Knowledge Group will provide and present an in-depth analysis of the fundamentals as well as recent developments in What’s Next in ESG Investments and ERISA’s Fiduciary Duties?. Speakers will also present all important issues surrounding this significant topic. Join us for this Knowledge Group Webinar!
A non-compete agreement is crucial for protecting a company’s trade secrets and other valuable assets from employees who leave the business. However, some organizations fail to include legitimate restrictions for employees' conduct even after their employment ended, exposing them to risks. More so, the potential for misappropriation or theft of trade secrets. This underscores the need for businesses and their counsel to be well-versed in drafting sound non-compete agreements and be abreast of emerging developments to be able to structure preventive measures and mitigate potential risks.
Today, traditional executive pay packages are no longer enough to retain top performers and carry the business onwards.
Worker misclassification has perpetually posed serious challenges for many businesses and companies alike.
The uptick in the number of lawsuits filed under the Employee Retirement Income Security Act (ERISA) has become a growing concern for many fiduciaries.
Restrictive covenants are enforced under the standards of reasonableness, recognizing the balance between protection and free competition.
The past two years have seen the undeniable growth of collective bargaining agreements (CBA) in both the public and private sector workplace.
Over the past years, multiple states have enacted and amended laws against unfair competition. However, the push to widen the scope of banning restrictive covenants and non-compete agreements raises concerns among employers, especially in protecting important company assets and trade secrets.