It's Overtime Time! The Final Rule is Here - Are You Ready?

On May 18, 2016, the Department of Labor (DOL) issued the long awaited final overtime rule.  The rule includes an exempt employee minimum salary threshold of $47,476 ($913 per week); less than the proposed rule’s $50,440 but slightly more than double the old threshold of $23,660. Future automatic updates to those thresholds will occur every three years, beginning on January 1, 2020.

The long awaited new overtime rules have finally been released by the Department of Labor (DOL). These are the first changes to the FLSA since 2004. With these new rules come new challenges. It is critical that employers understand these important changes from both a compliance perspective and an employee point of view.

According to experts the new regulations will affect over 4 million workers in 2016 alone. These effects are budgetary and personal for both the employer and the employee. First, employers will have to make the difficult decision of which employees will remain exempt with pay increases and which employees will be reclassified as nonexempt. Employers will also need to adjust department budgets for the monetary hit in December 2016 and beyond. Employees who are currently accustomed to being exempt may now be classified as nonexempt.  For some employees this could be perceived as a demotion or a step backwards causing possible employee morale issues. Employers will have to set up procedures on how to effectively communicate the new changes.

How will the employer and the employee handle making the new changes by December 1, 2016?  That’s what this webinar will discuss.

Topics Covered Include:

• New minimum salary requirements for executive, administrative, and professional exempt employees
• New minimum salary requirements for highly compensated employees
• How are computer professionals affected by the new salary limits
• How will the DOL determine the automatic increases in the future
• How to use nondiscretionary bonuses and incentive payments to satisfy the new salary level
• Communicating the new changes to affected employees
• Helping now nonexempt employees to begin tracking hours
• Effects of the new rules on state wage and hour laws that currently follow federal rules
• Effects of the new rules on states that have their own regulations
• Which law applies?  The federal or state rules when determining if an employee is exempt
• Duties tests needed to ensure proper classification

What you will receive:

• Copy of the presentation by Vicki M. Lambert
• 1.5 PDC Credits through SHRM
• 1.5 RCH through HRCI

Who will Benefit:

• Payroll Professionals
• Human Resources
• Accounting Personnel
• Business Owners
• Lawmakers
• Attorneys, or any individual or entity that must deal with the complexities and technicalities within the payroll process