New York Annual Wage Theft Reporting Act Requirements: Relief for 2015Anchin AlertJanuary 21, 2015
At the end of December 2014, the New York State Department of Labor (NYSDOL) announced that Governor Cuomo signed a bill eliminating the annual notice requirement of the Wage Theft Prevention Act (WTPA). This provides significant relief for many businesses.
Legislative leaders and Governor Cuomo agreed to an amendment to make this change effective immediately. The NYDOL will not require annual statements in 2015. This means that employers will not have to notify and receive written acknowledgments from all New York employees relating to rates of pay, frequency of pay and pay days, relieving a significant administrative burden from businesses. As in the past, employers are still required to notify employees of these wage laws as required under the WTPA at the time of hire.
This is a great relief for your business HR department; they can now utilize this unused time to comply with the increased reporting requirements of Obamacare.
For more information about this or other business topics, please feel free to contact your Anchin Relationship Partner.