On September 25, 2014, the U.S. Department of Labor (DOL) published a final rule that reduces reporting requirements for federal contractors and subcontractors who hire and employ veterans under provisions of the Vietnam Era Veterans' Readjustment Assistance Act of 1974 (VEVRAA).

"Over the next decade, this change will result in a significant reduction in paperwork burden for federal contractors and subcontractors," said Assistant Secretary of Labor for Veterans' Employment and Training Keith Kelly. "In addition to easing the burden on contractors, the data collected by these reports will help the Labor Department develop more informative yearly trends in the employment of protected veterans."

The final rule revises the VETS-100A Report and renames it the VETS-4212 Report. The VETS-100 Report will no longer be used. The VETS-4212 Report requires contractors to report specified information on protected veterans in their workforce in the aggregate, rather than for each category of veterans protected under the statute, reducing the required reporting elements by almost half, from 82 to 42. Under VEVRAA, the term "protected veterans" includes: disabled veterans, veterans who served on active duty during a war or campaign for which a campaign badge was authorized, veterans who were awarded an Armed Forces Service Medal and recently separated veterans.

Under this final rule, the department will receive valuable information on the number of protected veterans employed by federal contractors and the job categories in which they work. We estimate that this rule will ultimately result in substantial savings for contractors - approximately $18.2 million over a 10-year period.

The Veterans' Employment and Training Service serves America's veterans and separating service members by preparing them for meaningful careers, providing employment resources and expertise and protecting their employment rights.

Source: U.S. Department of Labor (DOL) Veterans' Employment and Training Services (VETS)

THOMAS HOUSTON consultants can assist you with applying the final rule to your organization's Veterans recordkeeping. We offer both VEVRAA Consulting Services and VETS Reporting services. Please email us at info@thomashouston.com for further information.