Monday, May 23, 2016

That is SO last week

Last week the long-awaited final FLSA overtime regulations were published.   The regulations are intended to make an additional 4.2 million workers eligible for overtime.  The new rules raise the salary threshold for exempt employees to $913, or $47,476 per year. The new rules also include a requirement that employers track time worked for each employee and an increase in the salary level at which employees are designated as highly compensated workers. The rule will go into effect for the pay period including December 1, 2016. 
Some commentators, including SHRM, believe the overtime regulations will be disastrous for small business and non-profits. Republican senators have introduced a resolution that would block the new rules from going into effect.  Other commentators, including Newsweek, believe the new rules will be a boon for the middle class.
We will hold a free webinar on June 2 at Noon CDT covering the new rules and what employers can do to prepare.  All are welcome.
In other developments: