DOL: US vendors must report pay
Federal contractors with 100 or more employees and a contract worth at least $50,000 must start reporting on their employee compensation, under a new proposed rule issued by the Labor Department.
Comments are due by Nov. 6.
The rule applies to employers who file Employer Information Reports (EEO-1 Reports), have more than 100 employees, and have a federal contract, subcontract or purchase order amounting to $50,000 or more.
Those vendors must submit a new Equal Pay report including summary data on employee compensation by sex, race, ethnicity, specified job categories, and other relevant data points such as hours worked, and the number of employees, under the proposal.
DOL’s Office of Federal Contractor Compliance Programs (OFCCP) estimated that 20,232 contractors that employ between 101 and 500 employees would be affected by the rule, but it said the economic impact would not be significant.
“OFCCP believes that this NPRM will not have a significant economic effect on a substantial number of small businesses affected,” the notice states.
More information: Federal Register notice: http://goo.gl/oZhnw1