| On September 30, 2016, the FAR Council finalized its Interim Rule which capped the allowable compensation for all contractor employees at the benchmark set by Congress in Section 702 of the Bipartisan Budget Act of 2013. The Interim Rule has been in effect since June 24, 2014. Under the Interim Rule and now the Final Rule, the cap on compensation remains at $487,000. Note that compensation includes the total amount of wages, salary, bonuses, deferred compensation, and employer contributions to defined contribution pension plans. |  |
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On May 31, 2016, the Small Business Administration issued a Final Rule implementing provisions of the 2013 National Defense Authorization Act, which pertain to performance requirements applicable to small business subcontracting, affiliation and joint ventures. Holomua Consulting Group submitted comments in response to the Proposed Rule and we are pleased to note that many of our comments were taken into consideration and our suggestions reflected in the Final Rule. The Final Rule takes effect on June 30, 2016. The following is a summary of the major points of the Final Rule.
Almost All Federal Contractors and Subcontractors Must Now Meet Minimum Cybersecurity Requirements6/11/2016
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