As he promised in his State of the Union address, President Obama has signed an Executive Order increasing the minimum wage for employees of federal contractors to $10.10 an hour. The Order is effective for new or modified contracts entered into after January 1, 2015.
As part of the Order, the President tasked the Secretary of Labor with issuing regulations implementing the terms of the Executive Order. The Secretary has until October 1, 2014 to issue the regulations. The regulations should detail the Department of Labor’s enforcment procedures as well as shed additional light on the types of contracts and employees covered by the new order.
We will continue to provide updates as additional information becomes available so make sure to stay tuned.