The Governor of Puerto Rico signed into law House Bill 695, amending Puerto Rico’s Law No. 180-1998 (the Minimum Wage, Vacation and Sick Leave Law)...
PUERTO RICO GOVERNOR PROPOSES LABOR REFORM On September 9, 2015, the Working Group for the Fiscal and Economic Recovery of Puerto Rico commissioned by Gov. Alejandro García Padilla, released its “Fiscal & Economic Growth Plan” (“FEGP”). The FEGP contains an encompassing blueprint for the local government to follow during the next five years, to reduce staggering .
On June 30, 2015 the Obama administration officially proposed a new regulation to increase the minimum weekly salary required to exempt managerial (executive, administrator and professional) employees from the minimum wage and overtime pay rates under the Fair Labor Standards Act (“FLSA”). This minimum weekly compensation will increase from $455 per week to $970.00 ($50,440 annually) in the year 2016.
On March 25, 2014, the United States’ Supreme Court held severance payments to an employee involuntarily terminated and that was not linked to a plan which conditioned the payments to the former employee’s receipt of state unemployment benefits, are taxable under the Federal Insurance Contributions Act (“FICA”). United States v. Quality Stores, Inc., No. 12-1408.
The Governor of Puerto Rico signed into law House Bill 695, amending Puerto Rico’s Law No. 180-1998 (the Minimum Wage, Vacation and Sick Leave Law)...
PUERTO RICO GOVERNOR PROPOSES LABOR REFORM On September 9, 2015, the Working Group for the Fiscal and Economic Recovery of Puerto Rico commissioned by Gov. Alejandro García Padilla, released its “Fiscal & Economic Growth Plan” (“FEGP”). The FEGP contains an encompassing blueprint for the local government to follow during the next five years, to reduce staggering .
On June 30, 2015 the Obama administration officially proposed a new regulation to increase the minimum weekly salary required to exempt managerial (executive, administrator and professional) employees from the minimum wage and overtime pay rates under the Fair Labor Standards Act (“FLSA”). This minimum weekly compensation will increase from $455 per week to $970.00 ($50,440 annually) in the year 2016.
On March 25, 2014, the United States’ Supreme Court held severance payments to an employee involuntarily terminated and that was not linked to a plan which conditioned the payments to the former employee’s receipt of state unemployment benefits, are taxable under the Federal Insurance Contributions Act (“FICA”). United States v. Quality Stores, Inc., No. 12-1408.