Wednesday, May 18, 2016

Salaried Overtime Regulations Released

Thanks to our friends at The Unland Companies for providing this information that should be very useful to all business owners and managers:

On May 18, 2016, the U.S. Department of Labor (DOL) announced a final rule regarding overtime wage payment qualifications for the “white collar exemptions” under the Fair Labor Standards Act (FLSA).

The final rule increases the salary an employee must be paid in order to qualify for a white collar exemption. The required salary level is increased to $47,476 per year and will be automatically updated every three years. The final rule does not modify the duties test employees must meet to qualify for a white collar exemption.

Employers will need to comply with this rule by Dec. 1, 2016.  But there are steps that should be taken well in advance of the December 1st deadline.

Click here to download a summary

 

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