Updated Jan. 6, 2021 2:00 pm ET
The Trump administration made it easier for businesses to classify workers as independent contractors, a victory for gig-economy companies such as food-delivery and ride-sharing services and a counter to a California law that did the opposite.
The Labor Department in a final rule released on Wednesday would make it more difficult for a gig worker, such as an Uber or DoorDash driver, to be counted as an employee under federal law. That means those workers wouldn’t be covered by federal minimum-wage and overtime laws, and they could be responsible for paying the employer portion of Social Security taxes.
DOL Releases Final Version of Fiduciary Rule The new rule allows fiduciaries in retirement plans to be exempt from certain prohibited transactions provided they adhere to a number of impartial conduct standards.
The Trump administration s Department of Labor released a finalized version of its fiduciary proposal Tuesday, a day after the White House’s Office of Management and Budget completed its final review. But the rule goes into effect after Joe Biden’s inauguration as the nation’s 46th president, leaving the rule vulnerable to change under the new administration.
The new rule is entitled “Improving Investment Advice for Workers & Retirees Exemption” and allows fiduciaries to be exempt from certain prohibited transactions provided they adhere to a number of “impartial conduct standards,” which include a best interest standard, a reasonable compensation standard and a requirement that they make no materially misleading statements.
The United States Attorney’s Office in Detroit said on Monday the United Auto Workers (UAW) union has agreed to independent oversight to resolve a five-year federal corruption investigation that ensnared two of the union’s former presidents.
US Attorney Matthew Schneider said the UAW would pay $1.5m to settle tax issues, make significant reforms and be overseen by an independent monitor for six years. Schneider said the civil settlement caps the investigation into the union but said inquiries could continue against individuals.
“The union has had a problem with fraud, embezzlement and corruption,” Schneider told a news conference. “There are a few bad apples and those people have been convicted.”
Pro-Biden Union Pays $1.5 Million to Settle Corruption Probe UAW Headquarters in Detroit, 2019 / Getty Images Reuters • December 14, 2020 3:25 pm
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By David Shepardson, Ben Klayman
WASHINGTON/DETROIT (Reuters) – The U.S. Attorney’s Office in Detroit said Monday the United Auto Workers (UAW) union has agreed to independent oversight to resolve a five-year federal corruption investigation that ensnared two former UAW presidents.
U.S. Attorney Matthew Schneider said the UAW would pay $1.5 million to settle tax issues, make significant reforms and be overseen by an independent monitor for six years. Schneider said the civil settlement caps the investigation into the union but said inquiries could continue against individuals.