Le Moyne’s Madden School announces third center of excellence

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SYRACUSE, N.Y. — The Madden School of Business at Le Moyne College will name its third and final “center of excellence” the Hetterich Center for

Young & Franklin’s $260M sale to Ohio firm to close in Q4

Energy, Environment & Sustainability, Manufacturing & Engineering, Subscriber Only

SALINA — An Ohio company will be the new owner of Young & Franklin Inc. (YF) and its subsidiaries, including Tactair Fluid Controls Inc., before the end of the year. Cleveland, Ohio–based TransDigm Group Inc. (NYSE: TDG) on Sept. 6 announced that it’s acquiring the companies for $260 million. The acquisition price includes about $73

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SALINA — An Ohio company will be the new owner of Young & Franklin Inc. (YF) and its subsidiaries, including Tactair Fluid Controls Inc., before the end of the year.

Cleveland, Ohio–based TransDigm Group Inc. (NYSE: TDG) on Sept. 6 announced that it’s acquiring the companies for $260 million. The acquisition price includes about $73 million of tax benefits for TransDigm over a 15-year period, the firm said in a U.S. Securities and Exchange Commission (SEC) filing.

TransDigm expects to finance the acquisition “through existing cash on hand,” according to the filing.

Founded in 1918 as Young & Franklin Tool Works, Inc., Young & Franklin designs, manufactures, and services turbine controls for the energy and oil & gas markets, according to its website. The company operates at 942 Old Liverpool Road in the town of Salina.

Its subsidiary, Tactair Fluid Controls, a designer and manufacturer of hydraulic and pneumatic controls for the aerospace industry, operates at 4806 W. Taft Road in Clay.

Together, Young & Franklin and Tactair have 350 employees, according to the Tactair website.

TransDigm Group, through its wholly owned subsidiaries, says it is a designer, producer, and supplier of engineered aircraft components for use on “nearly all” commercial and military aircraft in service today.

TransDigm expects the acquisition, which is subject to regulatory approvals and other customary closing conditions, to close in the fourth quarter.

Neither the news release nor the Ohio firm’s SEC filing indicate what, if any, plans TransDigm has for the Salina and Clay locations it will acquire.

“Both Tactair and Young & Franklin are long standing manufacturers of proprietary products with established positions, strong aftermarket content and an outstanding reputation based on product excellence. The highly engineered products will allow us to expand our content on a number of substantial platforms. The company fits well with our consistent product and acquisition strategy. As with all TransDigm acquisitions, we see opportunities for significant value creation,” W. Nicholas Howley, chairman, president and CEO of TransDigm, said in the firm’s release.

TransDigm expects Young & Franklin to generate revenue of about $75 million in 2016, with aftermarket sales comprising about 70 percent of that.

The local firm generates “nearly” all its revenue from proprietary products and about 70 percent of the revenue results from sales that are “aerospace related,” according to the TransDigm news release. The balance is sold to the industrial gas-turbine market.

The Ohio firm reported net income of $140.6 million, or $2.52 per share, during its fiscal third quarter that ended July 2. That’s up 42 percent from $99 million, or $1.75 per share, in the same quarter in 2015.

TransDigm generated more than $797 million in revenue in its fiscal third quarter, up 15 percent from $691 million in the year-earlier period.

Contact Reinhardt at ereinhardt@cnybj.com

State Department of Labor offers more training funding for Climax Manufacturing workers

Energy, Environment & Sustainability, Manufacturing & Engineering, Subscriber Only

LOWVILLE — The New York State Department of Labor has announced that up to $125,000 of discretionary employment and training funding has been awarded to the Jefferson-Lewis Local Workforce Development Board. This award will further assist workers affected by this spring’s plant shutdown at Climax Manufacturing Co. in Lowville, according to a Department of Labor

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New York manufacturing activity remains in decline in September

Energy, Environment & Sustainability, Manufacturing & Engineering, Subscriber Only

Despite a small measure of improvement, declines in new orders, shipments, unfilled orders, and inventories dragged down New York’s manufacturing activity in September. The Empire State Manufacturing Survey general business-conditions index inched up 2 points but remained below zero at -2.0 in September. The results of the September survey indicate that business activity “edged lower”

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Despite a small measure of improvement, declines in new orders, shipments, unfilled orders, and inventories dragged down New York’s manufacturing activity in September.

The Empire State Manufacturing Survey general business-conditions index inched up 2 points but remained below zero at -2.0 in September.

The results of the September survey indicate that business activity “edged lower” for New York manufacturers, the Federal Reserve Bank of New York said in its news release issued Sept. 15.

A negative reading shows a decline in manufacturing activity, while a positive number on the index indicates expansion or growth in the sector.

The September index level was slightly worse than economists expected. Those surveyed by the Wall Street Journal expected a reading of -1.0, while MarketWatch reported that economists expected the index to land at -0.5.

The Empire State survey found 22 percent of respondents reported that conditions had improved over the month, while 24 percent said that conditions had worsened.

Inside the report
The new-orders index fell 8 points to -7.5, indicating that orders dropped, and the shipments index tumbled 18 points to -9.4, pointing to a “pronounced” reduction in shipments, the New York Fed said.

The unfilled-orders index slipped to -11.6. The delivery-time index fell to -6.3, signaling shorter delivery times.

The inventories index moved down 8 points to -12.5, indicating that inventory levels “declined at a faster pace” than in August.

The employment index fell 13 points to -14.3, indicating that employment levels contracted.

The average-workweek index posted a similar decline, falling 14 points to -11.6, a sign of “retrenchment” in hours worked, the New York Fed said.

Both of these indexes reached their lowest levels of 2016, it added.

The prices-paid index was little changed at 17.0, indicating that input prices continued to rise at a “moderate” pace, and the prices-received index held steady at 1.8, signaling that selling prices edged slightly higher.

Indexes for the six-month outlook suggested that respondents were more optimistic about future conditions than they were last month.

The index for future business conditions climbed 11 points to 34.5.

The index for future new orders advanced to a similar level, while the index for future shipments, though positive, declined.

The index for future employment moved up into positive territory, suggesting that firms expected to expand employment in the months ahead.

Indexes for future prices rose considerably, suggesting that firms expected both input prices and selling prices to increase “more significantly” over the next six months.

The capital-expenditures and technology-spending indexes both climbed to 10.7.

The New York Fed distributes the Empire State Manufacturing Survey on the first day of each month to the same pool of about 200 manufacturing executives in New York. On average, about 100 executives return responses.

Contact Reinhardt at ereinhardt@cnybj.com

14 Ways to Sabotage Your Sales Career

Business Mentors, Insurance & Financial Services, Law, Accounting & Taxes, Subscriber Only

A Sales manager scratches his head and says, “Right from the start, I was so sure Carl would be a top performer. I would have put money on it. But before I knew it, he crashed and burned.” It’s an old story, one that often ends with the same words, “I wasn’t cut out for

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A Sales manager scratches his head and says, “Right from the start, I was so sure Carl would be a top performer. I would have put money on it. But before I knew it, he crashed and burned.”

It’s an old story, one that often ends with the same words, “I wasn’t cut out for sales.” Maybe, but that’s probably not the reason. Poor training, inadequate support, and unrealistic expectations can each play a role.

Even so, what causes potentially good salespeople to fail has little or nothing to do with poor sales skills. The real harm is self-inflicted. Salespeople sabotage themselves all the time. Here are 14 ways they wreck their sales careers:

1. Tell a customer they will take care of something and then don’t do it. Why worry about it? It’s nothing an “I’m sorry,” a little schmoozing, a bouquet of flowers, or a gift card can’t correct. Anyway, it wasn’t that important. That’s not how customers see it. Their actions reveal the truth of who they are.

2. See themselves as special. The “salesperson’s disease” is catching and it’s transmitted by rubbing shoulders with other salespeople. The major symptom is the belief that they’re the reason for the company’s success so that gives them permission to break the rules, and to look down on everyone else. Oh, yes, the disease is fatal.

3. Puff up their record. No salesperson needs to take a course in the “Fine Art of Amplification.” Whether it’s with customers, each other, or the boss, exaggeration comes naturally for too many salespeople. And, then, they come to believe their own baloney.

4. Avoid asking for help. Many salespeople see themselves as operating on their own, beholden to no one, and totally responsible for their own destiny. And that includes asking for help, which they view as a sign of weakness and something they can’t live with — even when it costs them customers.

5. Criticize but don’t contribute. You know these salespeople. They’re quick to tell you what’s wrong in every part of the company — why revenues are down, what’s wrong with the product line, or who in management should be dumped. Yet, when asked to contribute their ideas or make suggestions, they have nothing to say. Such behavior pushes them out the door.

6. Do enough to get by. They’re guided by some preset internal gauge that sets strict limits, letting them go only so far before banging on the brakes. These are outliers to be sure. They’re ignored when there is a crisis or unexpected crunch. In a word, they’re superfluous to the company’s success.

7. Ignore deadlines. It started out early in life. Their school projects were always late and they always arrived with an attached excuse. Now their reports are predictably late, along with customer proposals, along with just about everything else, even expense reports. It’s as if deadlines were made for others, not for them. And they can’t figure out why the boss has it in for them.

8. Always make sure they look good. Whether it’s customers, associates, or the boss, their goal is to make sure that, at all cost, they come out looking good. They avoid taking responsibility (a sign of weakness) at all cost. Although they don’t see it, their behavior is so transparent no one trusts anything they say or do.

9. Sell what they want to sell. Salespeople always have favorite customers, but many also have pet products. They’re not complex, don’t cause problems, and they’re easy to sell. Some come with a robust commission. Whether or not they’re a good fit for customers is not the issue.

10. Cut corners. Shrinking the job to reduce work is a disease that infects may sales careers. “Forget it. It’s just means extra work,” “I don’t have time to do that,” or “Frankly, that’s crazy. Who comes up with such stupid ideas?” Every salesperson has heard such words whispered in sales meetings or seen eyes roll. Selling success comes from enhancing the process, not cutting it down to your own size.

11. Think that they’ve got it made. From all indications, they’ve worked hard, done a good job, and enjoyed the rewards. As they see it, they’ve paid their dues. Now it’s time to cut them some slack so they can set their own pace. It’s time for a little preferential treatment like getting some of the better leads. If that’s what’s going through their mind, they’re on their way — but out, not up.

12. Lay on the jargon. These salespeople believe using all the right words impresses customers and wins them over. So they get the jargon down pat and stay on top of the latest corporate speak. Yes, customers want to be impressed, but not with jargon. What they want is a salesperson who takes time to understand them by asking good questions and who makes sure they’re comfortable with their buying decision. That’s impressive.

13. Decide who will buy and who won’t. They may be smart, savvy, and have lots of experience. They’ve come face-to-face with just about every type of customer and they think they know who will buy and who won’t. All they need is a couple of seconds. It’s as if they have a sixth sense about customers. Some salespeople have it and some don’t.

It sounds so good, it’s almost convincing. But it’s just plain nonsense, an exercise in self-deception. In selling it’s what the customer thinks that counts, not what’s floating around in a salesperson’s head.

14. Believing that customers love them. It’s the great sales con game. It’s easy for salespeople to think customers love them when they’ve heard, “You are the best.” “I don’t know what we’d do without you.” “We’re so lucky you came along.” It’s enough to make the ego do somersaults. It’s feel-good stuff, but here’s the question that counts: Do your customers respect you?

When you think about it, it isn’t easy to sabotage a sales career. But if you put your mind to the task, you can do it.

John Graham of GrahamComm is a marketing and sales strategist-consultant and business writer. He publishes a free monthly eBulletin, called “No Nonsense Marketing & Sales Ideas.” Contact him at jgraham@grahamcomm.com, (617) 774-9759, or johnrgraham.com

Unionized nurses ratify new contracts with St. Elizabeth, Samaritan Medical Centers

Employee Benefits & Human Resources, Health Care, Subscriber Only

Nurses at St. Elizabeth Medical Center (SEMC) in Utica and Samaritan Medical Center (SMC) in Watertown voted to ratify new contracts ahead of the Labor Day holiday weekend. Nurses at SMC on Aug. 31 ratified a new five-year deal, the New York State Nurses Association (NYSNA) said in a news release issued that day. Later

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Nurses at St. Elizabeth Medical Center (SEMC) in Utica and Samaritan Medical Center (SMC) in Watertown voted to ratify new contracts ahead of the Labor Day holiday weekend.

Nurses at SMC on Aug. 31 ratified a new five-year deal, the New York State Nurses Association (NYSNA) said in a news release issued that day.

Later that same night, NYSNA announced that nurses at SEMC had also ratified a new four-year contract.

NYSNA is the union representing nurses at each facility.

Both hospitals had earlier reached tentative agreements with NYSNA, avoiding one-day strikes on Sept. 1 and nurse lockouts at each location.

Both NYSNA statements included similar language, noting that the tentative agreements required “federal mediation” and followed “hours of arduous negotiation.”

“The parties are pleased that they have jointly found creative solutions to address the staffing concerns raised by the nurses. This agreement is subject to ratification.

The strike and lockout notices have been withdrawn,” NYSNA said in statements announcing both tentative agreements.

Nurses that NYSNA represents at both hospitals had planned a one-day strike on Sept. 1. Both SEMC and SMC had countered with a plan to lock the nurses out.

The Utica hospital had notified NYSNA of its plan to lock out the nurses and hire temporary ones for coverage through Labor Day, the Mohawk Valley Health System (MVHS) said in a news release issued Aug. 24.

MVHS is an affiliation of SEMC and Faxton St. Luke’s Healthcare, both of Utica. The two organizations teamed up in March 2014.

SEMC had been negotiating with NYSNA for more than 14 months, MVHS said.

SMC had also planned to hire temporary replacement nurses for a period of 11 days beginning on Sept. 1, the organization said in a news release on Aug. 18.

SEMC contract
The new SEMC contract replaces one that had expired. The new four-year contract will expire on June 30, 2019, NYSNA said.

“On behalf of the nurses who work day and night at St Elizabeth, we are thrilled to ratify this agreement,” Mike Pattison, registered nurse (RN) at SEMC, said in the NYSNA news release. “This contract takes measures to provide adequate staffing so the patients get the care they deserve, it helps the nurses by giving them adequate benefits so we can attract and keep the best of the best, and it gives the hospital a workforce that makes good business sense. The nurses would like to thank the community for all of their support over the last 14 months as well as the Mohawk Valley Health System for working with us during negotiations.”

The new SEMC contract calls for an additional five full-time employees, “improved” response to short staffing, and new committees on which nurses will have a “true voice” in staffing, NYSNA said.

The new SEMC pact also calls for wage increases totaling 9 percent over the life of the contract, the union added.

The contract also calls for a health-insurance plan that replaces “the base plan with a superior health plan” at a reduced cost.

SMC contract
Ratification of the SMC contract concluded 13 months of negotiations between the two organizations, according to NYSNA.

The new contract replaces one that expired on Aug. 1, 2015, with several contract extensions, the last of which ended July 6, 2016. The new five-year contract will expire on Aug. 1, 2020.

“We are so pleased to have settled this contract and to have negotiations behind us,” Deborah LaMora, RN at Samaritan Medical Center and NYSNA co-chairperson, said in the NYSNA news release on the SMC contract. “We feel that it benefits the registered nurses and the hospital. The new contract opens up new opportunities for us and management to work together to insure safe and proper staffing levels. It truly is a win-win.”

The “mutually beneficial” contract includes agreements on “major” issues, such as pension; health insurance; and paid time off and wages.

SMC and NYSNA also resolved the staffing issue during the negotiations, the union said.

NYSNA had initially proposed mandatory nurse-to-patient ratios, but the two parties agreed instead to “alternative solutions that would insure safe staffing levels in all areas.”

Under the agreement, SMC will “purchase and implement” a patient-classification system, which determines staffing needs based on the acuity level of patients at any given time using real-time information directly from the patients’ electronic-medical record.

The hospital will create nursing-staffing committees in each of the seven clinical-practice areas throughout the hospital.

The committees include the unit’s nurse manager; a minimum of two RNs from the unit and an equal number of management, as well as a representative from NYSNA.

The committees will meet to address clinical practice, staffing and workflow improvements in their respective units, including nurse vacancies; patient volume and flow; staffing mix; and other staffing-related items.

The new contract also calls for SMC to create a nursing-resource team to “immediately” respond to and address any situation in which a nurse feels that staffing is unsafe.

At the request of the nurse, SMC will convene the team on the unit in need, at the time of need.

The team includes the nursing supervisor, the nurse manager of the unit, and the nurse requesting the team.

Together, this team will evaluate the situation and make a staffing determination “immediately.”

Contact Reinhardt at ereinhardt@cnybj.com

AARP urges New York State to create retirement plan for private-sector workers who lack them

Employee Benefits & Human Resources, Subscriber Only

AARP New York is urging New York State to “take advantage” of a new federal rule allowing states to create automatic enrollment, retirement-savings plans for employees who work at businesses that don’t currently offer a retirement plan. AARP on Aug. 25 praised the finalization of a U.S. Department of Labor rule that confirms states can

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AARP on Aug. 25 praised the finalization of a U.S. Department of Labor rule that confirms states can facilitate the creation of such plans.

More than half of all private-sector workers in New York lack access to a workplace retirement-savings plan, like a 401(k), AARP contended in a news release.

“AARP New York urges Gov. Cuomo and our state lawmakers to take advantage of this opportunity to help over 3 million private-sector workers in New York by providing an effective way for them to save their own money and create a financially secure future,” Beth Finkel, state director of AARP in New York state, said in the news release.

Nationwide, these public-private partnerships have the “potential” to help more than 55 million American workers who lack access to a way to save for retirement automatically out of their regular paycheck.

The U.S. Department of Labor also issued a draft rule that would pave the way for large cities, including New York City, to enact similar plans, the organization added.

AARP New York supports the “Secure Choice” legislation, which State Senator Diane Savino (D–Staten Island) and Assemblyman Robert Rodriguez (D–Harlem) have introduced in their respective chambers. It has attracted 90 co-sponsors in the 150-member State Assembly, AARP said.

That legislation calls for New York to “create a self-sufficient retirement savings program in the form of an automatic enrollment payroll deduction IRA, and establishes an administrative board responsible for promoting greater retirement savings for private sector employees…,” according to a bill summary on the New York State Senate website.

AARP said features such as payroll deduction and automatic enrollment are key to boosting employees’ retirement savings.

Four states have already enacted legislation creating “work and save” plans that would be impacted by the federal rule, including Illinois, Oregon, Connecticut, and Maryland.

AARP also anticipates legislation in California in 2016.

Contact Reinhardt at ereinhardt@cnybj.com

EBRI study: low-income workers in high-deductible health plans avoid some care

Employee Benefits & Human Resources, Subscriber Only

Low-income workers who switch to high-deductible health plans with health savings-accounts (HSAs) are more likely than their higher-paid colleagues to avoid certain types of health care. That’s according to new research that the Employee Benefit Research Institute (EBRI) recently released. Based in Washington, D.C., EBRI describes itself as a “private, nonpartisan, nonprofit research institute that

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Based in Washington, D.C., EBRI describes itself as a “private, nonpartisan, nonprofit research institute that focuses on health, savings, retirement, and economic-security issues.”

The EBRI analysis — which looked at actual health claims of one large, unnamed Midwestern employer by workers’ income levels — found significant differences for the use of some health services, but not for others.

For instance, switching to an HSA-eligible health plan caused a decline in (nonpreventive) outpatient office visits for workers at all income levels, but the decline was twice as large for workers and their dependents with incomes less than $50,000 as compared with those with incomes of at least $100,000.

The decline in specialist visits accounted for most of the decline in outpatient office visits among the group of workers with less than $50,000 in annual income, EBRI said.

Also, the HSA-eligible health plan was associated with a reduction in various preventive services by worker income. For example, lower-income workers reduced their use of influenza vaccinations more than higher-income colleagues.

Further, the HSA-eligible health plan was associated with an increase in emergency-department visits and inpatient hospital admissions among lower-income individuals.

The usage levels of certain health-care services — inpatient hospital days; “avoidable” emergency-department visits; pneumonia vaccinations; HPV vaccinations; and blood-sugar testing for individuals with diabetes — were unaffected by enrollment in the HSA-eligible health plan both overall and by worker income, EBRI found.

“A key question with high-deductible HSA-eligible health plans is how the income differences of workers affect the use of health-care services and spending: Do lower-paid workers defer health care more than higher-paid workers?” Paul Fronstin, director of EBRI’s health research and education program and co-author of the report, said in the EBRI news release.

“We found mixed results: For some health services, yes it does — but for others, it does not,” he added.

The data for the EBRI study came from a large employer that offered an HSA-eligible health plan alongside a preferred provider organization (PPO) and covers the use of health-care services and spending over the six-year period from 2009 to 2014.

The full report, “The Impact of an HSA-Eligible Health Plan on Health Care Services Use and Spending by Worker Income,” EBRI Issue Brief no. 425 (August 2016), is available online at www.ebri.org.

Contact Reinhardt at ereinhardt@cnybj.com

Afraid You’ll Be Forced to Work in Retirement?

Business Mentors, Employee Benefits & Human Resources, Insurance & Financial Services, Law, Accounting & Taxes, Subscriber Only

That may not be so bad. Many older Americans who once dreamed of lounging around the house in retirement instead are waking up each morning to get ready for work. A recent Pew Research Center study showed that the percentage of Americans 65 and over who are still employed is on the rise, having reached

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That may not be so bad.

Many older Americans who once dreamed of lounging around the house in retirement instead are waking up each morning to get ready for work.

A recent Pew Research Center study showed that the percentage of Americans 65 and over who are still employed is on the rise, having reached 18.8 percent as of May. That’s up from 12.8 percent in 2000.

Depending on an individual’s situation, though, working past traditional retirement age may not be such a terrible thing.

Some people say they keep working because they can’t afford to retire. Some people don’t want to retire because they love what they do.

At 68, I fall in the latter group. My keep-at-it attitude worked in my favor after a surgery in February.

One of the people in the medical field told me that because I’m active that has helped me to rehab quickly. They said if I was retired, it typically takes longer to rehab.

Some advantages of working in retirement include:

Relief from financial stress
One of the biggest worries retirees have is running out of money. With people living longer, that’s a legitimate concern. Even just a part-time job that brings in a little extra cash can help alleviate some of the stress. I have clients who work just a few days a week and that works well for them.

Physical fitness
It’s no secret that, as people age, they tend to suffer more problems with their bodies, such as joint pains. Many jobs can keep them active and moving, making for better health.

Mental fitness
A study published in the peer-reviewed journal Neurology this year found that activities that challenge your brain may help delay symptoms of dementia. Talk to people in their 50s and 60s and you’ll see that does scare us. Work gives us the ability to keep our minds active.

Anyone considering working in retirement does need to be aware of the financial implications with Social Security.

If you wait until your full retirement age to draw Social Security — 66 to 67 for most people, these days — you can earn as much as you like.

But if you claim Social Security early — which you can do starting at age 62 — earnings are limited to $15,720 annually. For every $2 you make over that amount, $1 is deducted from your Social Security.

That changes beginning with the year in which you reach full retirement age. At that point, $1 is deducted for every $3 earned above a different limit. In 2016, that limit is $41,880. But the only earnings counted are those before the month in which you reach full retirement age, according to the Social Security website.

I’m happy with my decision to remain on the job beyond retirement age and many of the clients I provide financial advice to find it rewarding, too.

For me, there’s nothing negative about working in retirement at all.

John Eikenberry is president of Eikenberry Retirement Planning (www.EikenberryRetirement.com), a wealth-management firm in Ohio. He has 42 years of financial-services experience.

New York State DOL Issues Regulations on Payroll Debit Cards

Business Mentors, Employee Benefits & Human Resources, Subscriber Only

On Sept. 7, the New York State Department of Labor adopted regulations governing the payment of employee wages by any method other than cash or check, including direct deposit and payroll debit cards. The purpose of the new rules, which will become effective on March 7, 2017, is to ensure that workers who are paid

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At least seven business days before taking action to pay employees via payroll debit cards, employers must satisfy certain notice requirements and obtain employees’ informed consent. For example, employers must provide employees with:

plain language description of all of the employee’s options for receiving wages;
statement that the employer may not require the worker to accept wages by payroll debit card or direct deposit;
statement that the employee may not be charged for any fees for services that are necessary for the employee to access his/her wages in full; and
if offering the option of payroll debit cards, a list of locations of fee-less ATMs within a reasonable travel distance from the employee’s workplace or residence (a link to a website containing such information is sufficient).

Additionally, if employees are covered by a collective-bargaining agreement that provides the method(s) of payment by which employees must be compensated, the employer must obtain the union’s approval before paying employees by payroll debit card.

Under the new rules, employers will not be able to pass the costs associated with payroll debit cards onto employees, nor will they be able to accept kickbacks from card issuers, card sponsors, or third parties for delivering wages via payroll debit cards. Significantly, employees who choose to receive their wages through a payroll debit card will:

Have access to at least one (1) fee-less ATM within a reasonable travel distance from where the employees work or live;
Have access to unlimited withdrawals from a fee-less ATM; and
Not incur fees for: checking their balance, maintenance, account inactivity, overdraft, contacting customer service, receiving written statements or transaction histories, closing an account, card replacement (at reasonable intervals), taking action necessary to receive wages or hold the payroll debit card, or point of sale transactions.

Unsurprisingly, business spokespeople predict that New York employers will shy away from using payroll debit cards once these new requirements become effective. One advocate described the new rules as “unworkable.”

It is worth noting that the new rules will not apply to employees working in a bona fide executive, administrative, or professional capacity who earn in excess of $900 per week, nor will they apply to employees working on a farm not connected with a factory.

Emily E. Harper is an associate attorney with Bond, Schoeneck & King PLLC who represents and counsels management in a wide variety of labor and employment law matters. This Viewpoint article is drawn from the firm’s New York Labor & Employment Law Report blog. Contact Harper at eharper@bsk.com

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