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ABC, as part of a coalition representing more than 50 employer organizations, sent a letter Dec. 18 to the Office of Information and Regulatory Affairs (OIRA) urging them to delay issuing the Department of Labor’s (DOL) final "persuader" rule until it finalized a rulemaking scheduled for later this year that will make significant changes to Form LM-21, which employers are required to file when they hire a persuader. The final “persuader” rule is currently under review at OIRA.
Specifically, the group noted that if the DOL finalizes its persuader rule without making the necessary changes to Form LM-21, it will:
“The DOL’s proposed persuader advice exemption rule is so closely intertwined with DOL’s proposal to make changes to the yearly receipts and disbursement report (Form LM-21), that the two rulemakings should proceed concurrently, rather than separately as currently indicated,” the letter stated.
These concerns echo a February 2014 letter the coalition sent to Labor Secretary Thomas Perez that went into even greater detail about concerns the business community has regarding the persuader rule.