The Department of Labor (DOL) has released its 2023 inflation-adjusted civil monetary penalties that may be assessed on employers for violations of a wide range of federal laws.
Key penalty increases include the following:
- The maximum penalty for violations of federal minimum wage or overtime requirements increases from $2,203 to $2,374 per violation
- The maximum penalty for failing to file a Form 5500 for an employee benefit plan increases from $2,400 to $2,586 per day
- The maximum penalty for violations of the poster requirement under the FMLA increases from $189 to $204 per offense.