It’s finally happened! The long wait is over. The United States Department of Labor just released its new overtime exemption rules, they’ve been finalized and they went into effect on January 1, 2020. For many employers that means that many of the positions it had previously classified as exempt from overtime requirements will not be any longer – unless these employees receive a salary increase equal to or greater than the new salary threshold. The new salary rules are expected to impact at least a million workers nationwide, and to result in a significant increase in the number of employees who will be eligible for overtime pay.
WHY SHOULD YOU ATTEND?
Penalties for non-compliance with the FLSA's overtime rules can be severe. Non-compliant employers can face a DOL audit, a lawsuit or even an administrative charge.
In this webinar we will discuss the new rules. In particular we will discuss which jobs and which employers are likely to be impacted and what to do now in order to comply with the Fair Labour Standards Act.
AREA COVERED
- Practical steps to take now;
- The difference between the new DOL rule on overtime exemptions and the Obama-era proposal concerning white-
- Collar exemptions, salary basis and more;
- How the proposed rule will affect highly compensated employees?
- How often the DOL anticipates it will update the salary level?
- How the DOL intends to handle the issue of automatic updates?
- How bonuses will factor into the salary threshold for exemption?
- Practical steps to either reduce the increase in overtime or to stay under the DOL’s radar.
LEARNING OBJECTIVES
- Understand which positions are targeted by the new rules
- Understand the difference between exempt v non-exempt positions
- Understand how reclassification may affect employees formerly classified as exempt
- Recognize the proposed changes and their potential impact
WHO WILL BENEFIT?
- Payroll Professionals
- HR Professionals
- Managers
- Compliance Officers
- Audit Staff
- Budget Personnels
- Attorneys
- Controllers
Penalties for non-compliance with the FLSA's overtime rules can be severe. Non-compliant employers can face a DOL audit, a lawsuit or even an administrative charge.
In this webinar we will discuss the new rules. In particular we will discuss which jobs and which employers are likely to be impacted and what to do now in order to comply with the Fair Labour Standards Act.
- Practical steps to take now;
- The difference between the new DOL rule on overtime exemptions and the Obama-era proposal concerning white-
- Collar exemptions, salary basis and more;
- How the proposed rule will affect highly compensated employees?
- How often the DOL anticipates it will update the salary level?
- How the DOL intends to handle the issue of automatic updates?
- How bonuses will factor into the salary threshold for exemption?
- Practical steps to either reduce the increase in overtime or to stay under the DOL’s radar.
- Understand which positions are targeted by the new rules
- Understand the difference between exempt v non-exempt positions
- Understand how reclassification may affect employees formerly classified as exempt
- Recognize the proposed changes and their potential impact
- Payroll Professionals
- HR Professionals
- Managers
- Compliance Officers
- Audit Staff
- Budget Personnels
- Attorneys
- Controllers