U.S. Department of Labor Proposes a New Rule to Protect Union Workers
WASHINGTON, DC – The U.S. Department of Labor’s Office of Labor-Management Standards (OLMS) posted a Notice of Proposed Rulemaking (NPRM) that would increase and enhance financial transparency for unions regulated by the Labor-Management Reporting and Disclosure Act of 1959 (LMRDA).
The NPRM proposes revision of an annual financial disclosure form, Form LM-2, which labor organizations use to report their financial conditions and operations under the LMRDA, also known as the Landrum-Griffin Act. The NPRM would also introduce a new enhanced Form LM-2LF for the largest labor organizations.
The purpose of this rulemaking is to allow members to stay better informed of their union’s financial conditions and operations. Increasing union financial transparency better enables members to more meaningfully and effectively participate in the democratic governance of their union. The reforms would also serve as a deterrent of fraud and embezzlement, and aid in its detection.
“The Office of Labor Management Standards protects America’s workers by promoting union financial transparency, and combatting union fraud and embezzlement,” said Acting Director of the Office of Labor-Management Standards Andrew Auerbach. “This proposed rulemaking would increase financial transparency and better enable workers to make decisions regarding their union.”
OLMS administers and enforces most provisions of the LMRDA, which promote union democracy and financial integrity in private sector labor unions through standards for union officer elections, union trusteeships, and safeguards for union assets. The LMRDA also promotes labor union and labor-management transparency through reporting and disclosure requirements for labor unions and their officials, employers, labor relations consultants, and surety companies.
The mission of the Department of Labor is to foster, promote and develop the welfare of the wage earners, job seekers and retirees of the United States; improve working conditions; advance opportunities for profitable employment; and assure work-related benefits and rights.