Employment Law Updates | New Statutes, Regulations, and Rules
February 13, 2009
U.S. Department of Labor Issues Union Transparency Final Rule
Form T-1, Final Rule
CFR Part 403, RIN 1215–AB64, 10/2/2008
The Department of Labor, Office of Labor-Management Standards (“OLMS”) announced that it has published a Final Rule implementing the Form T-1, Trust Annual Report. The Form T-1 is an annual financial disclosure report filed by labor unions about certain “trusts” in which they are interested. These trusts include, for example, building and redevelopment corporations, educational institutes, credit unions, labor union and employer joint funds, and job targeting funds. Labor unions will use the Form T-1 to disclose financial information about the trust, such as assets, liabilities, receipts and disbursements. See http://www.dol.gov/esa/olms/regs/compliance/t1_intro.htm.
According to the OLMS, not all labor unions with trusts…
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