Benefits Insights, Fall 2015
The U.S. Department of Labor announced on September 16, 2015 that the new minimum wage rate to be paid to workers on Federal contracts covered by Executive Order 16658 will be $10.15 beginning January 1, 2016. This is an increase from the $10.10 rate established by the Executive Order. The final rule states that beginning January 1, 2016, and annually thereafter, the Secretary of Labor will establish the new rate in accordance with the methodology established by the Executive Order.
The announcement can be viewed at: