Independent contractor rule proposal spurring angst, confusion

January 29, 2024 by Doug Bailey

Trade groups and employee advocates are singing “Out with the new, in with the old,” in reaction to the federal government’s recent efforts to once and for all define an employee versus an independent contractor, a move which industry advocates say could cause a significant reduction in the number of independent advisors serving consumers.

After a protracted process and court battles, the Department of Labor unveiled a new set of rules on Jan. 10 that has been met with resistance, confusion, ambiguity, and continued legal action by labor organizations who want the government to abandon the new rules in favor of previous iterations.

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Originally Posted at InsuranceNewsNet on January 23, 2024 by Doug Bailey.