CUE and the Persuader Rule: The Good, Bad, and Ugly
The Labor Persuader Rule is Here
We’re offering a new webinar on 4/28 – CUE and the Persuader Rule – the Good, the Bad, and the Ugly with Phil Wilson. of Labor Relations Institute.
Register for the webinar here.
The final Department of Labor Persuader Rule is here. Do you know what it means for your organization? It’s ugly and overwhelming in many ways, according to these “fun facts compiled by Walter Orechwa at Projections, Inc.
FUN’ FACTS
The DOL’s analysis of the Paperwork Reduction Act: the annual recurring burden on employers, labor relations consultants, and all other persons required to file Form LM-20, and Form LM-10 is a mere $1,263,499.59 (that’s one million, two-hundred sixty-three thousand, four-hundred ninety-nine dollars and fifty cents).
To fill out Form LM-10 will only take 147 minutes per report/filer at an estimated cost of $226.70 per report.
To fill out Form LM-20 will only take 98 minutes per report at a an estimated cost of $151.14.
The DOL received approximately 9,000 comments on the proposed rule and apparently listened to only 2 of them to write the rule.
There were an average of 191 LM-20 reports filed last year and that number is expected to go up to 4,194.
As for LM10’s, they will be waiting with baited breath for the estimated 3,414 filers, which is up from the previous average of 930 reports.
Join us on Thursday April 28th at 2 PM ET, Phil Wilson of Labor Relations Institute will tell you the Good, the Bad, and the Ugly about the new rule and how it will impact your company or law firm.
Register for the webinar here.