OFCCP Proposes Rule to Collect Summary Compensation Data From Federal Contractors

Today the U.S. Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) issued a Notice of Proposed Rulemaking which would require covered federal contractors and subcontractors with more than 100 employees and contracts, subcontracts, or purchase orders amounting to $50,000 or more, to submit to OFCCP summary data on the compensation paid to their employees. The proposed rule, which will be published in the Federal Register on August 8, 2014, implements a directive of a presidential memorandum issued four months ago. The deadline for submitting comments on the proposed rule will be 90 days from the date of its publication in the Federal Register. Look to Ogletree Deakins in the coming days for further analysis and recommendations regarding the rule.