Contents tagged with Regulation

  • New York State Department of Labor to issue new paycard guidelines

    June 25, 2015
    Paycards have grown in popularity as a means of compensating employees and as such, have courted the attention of regulators. The New York State Department of Labor (NYSDOL) has proposed guidelines for paycard implementation to make the process as fair to workers as possible. 

    "For several years at least, many employers with a large non-exempt workforce – particularly in the retail and hospitality industries – have moved towards pay cards as a means to reduce payroll administration costs," explains JD Supra, business advisor. "Most states either regulate pay card systems lightly (with fairly minimal disclosure and free withdrawal requirements) or not at all."

    Some of the NYSDOL-proposed regulations include:

    A description, in plain language, of all employee … more