DOL's Final Overtime Rule (FLSA) Updates for 2016

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Duration : 60 min





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The Final Rule passed on May 18, 2016 and it focuses primarily on updating the salary and compensation levels needed for Executive,Administrative and Professional workers to be exempt. Specifically, the Final Rule:

1. Sets the standard salary level at the 40th percentile of earnings of full-time salaried workers in the lowest-wage Census Region, currently the South ($913 per week; $47,476 annually for a full-year worker) 

2. Sets the total annual compensation requirement for highly compensated employees (HCE) subject to a minimal duties test to the annual equivalent of the 90th percentile of full-time salaried workers nationally ($134,004)

3. Establishes a mechanism for automatically updating the salary and compensation levels every three years to maintain the levels at the above percentiles and to ensure that they continue to provide useful and effective tests for exemption.

Additionally, the Final Rule amends the salary basis test to allow employers to use non-discretionary bonuses and incentive payments (including commissions) to satisfy up to 10 percent of the new standard salary level. Source: DOL Website

Learning benefits for the Audience

You will learn the impact of DOL's final rule affecting current employee classifications considering:

. Culture, Expense, Scheduling, Employee morale,Documentation and Record keeping.

This presentation will encourage and aid employers about likely ramifications of the FLSA changes such as:

.  Federal and State Minimum Wage Requirements.

.  Federal and State Overtime Requirements and concerns, Regular rate of pay for Exempt vs. non-exempt.

Trivia Questions and examples on how to prepare for potential impacts by reviewing:

.  Current compensation practices

.  Organizational structures and culture

.  Best practices for seamless transitions

Who Should Attend this Conference:

. HR & Payroll Professionals.

. Business owners

. Compliance Officers/Professionals

. Attorneys's

. Any and all business must comply with the FLSA and are at risk

 








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