The Department of Labor has rolled out new regulations covering worker classification — the term used for determining whether a worker is an employee or an independent contractor. Depending on the answer, the worker may or may not be subject to the minimum wage and maximum hours provisions of the Fair Labor Standards Act as well as to various fringe benefit policies of the organization that engages them.
What does this have to do with federal grantees? Use of DOL’s required determination factors could trigger the need to reconfigure organizational classification and compensation policies. And the rules will almost certainly drive grant budgeting and expenditure decisions, particularly those involving application of fringe benefit and indirect cost rates.
Key decisionmakers in grant recipient and subrecipient organizations need to take a close look at the new rules and figure out how to respond before the March 11, 2024, effective date. At the same time, they should examine the worker classification tools that the Internal Revenue Service overhauled in late December.
Participants in this timely webinar will learn:
- Details about the factors that the Labor Dept. will require employers to use in making determinations, such as:
- Economic dependence
- Investment in the worker
- Degree of permanence of the work
- The nature and degree of control
- Work that involves an Integral function of business
- Use of specialized skills and initiative
- Current related relationship and control criteria that the IRS uses when an employer or a worker requests a formal classification ruling.
- The potential compliance and financial consequences of misclassification.
WHO SHOULD ATTEND:
- Human resources directors
- Grant and contract managers
- Sponsored projects administrators
- Executives
- Legal counsels
- Finance directors
- Accounting staff
- Internal auditors
- External auditors
Hand-out Materials:
Attendees will receive presentation slides as well as access to background materials.
Allowable Charges
The costs of webinars sponsored by Federal Fund Management Advisor™ are allowable charges to your federal grants and subgrants. The cost principles issued by OMB under its uniform guidance (and applicable to all types of awardees) state, “The cost of training and education for employee development is allowable” (2 CFR 200.472).
Attend this Live Webinar and Earn up to 1.8 CPE Credits