Another Billion Dollar Federal Reg

Last week the Equal Employment Opportunity Commission (EEOC) announced it finalized the proposal to now include employee pay data in the annual Employer Information Form (EEO-1) submitted to the agency.  Private employers and federal contractors with 100 or more employees will have to report employee wage data from employees’ W-2s.

The ostensible rationale is to address discriminatory pay practices.

The EEO-1 report will be due for the first time with pay data on March 31, 2018, and the EEO-1 will be due every March 31 thereafter.

The recently released NAM Labor Study indicates this form change will cost manufacturers “$1.9 Billion with 18 million hours of paperwork over the next ten years.”

EEOC has published a fact sheet.  9/30/2016