The Department of Labor's new overtime regulations are here! These regulations will require action from almost every company that pays its white collar employees less than $47,500 without overtime or risk not being in legal compliance. Come learn about the changes in the law and various legal and communications strategies for responding to these changes. This program will walk attendees through the new regulations, the choices for how to pay impacted employees under the new regulations, action plans for making the pay changes, common mistakes and how to avoid them, and communications tips for educating the workforce on the changes.
As a summary, the new regulations have the following key changes:
- Increases the minimum salary to $913/week ($47,476 annually) to satisfy the salary basis piece of the test. In other words, employees whose duties satisfy a white collar exemption to the FLSA’s overtime requirements must receive a salary equaling $47,476 annually to qualify for the exemption (subject to limited attribution permitted to non-discretionary, incentive, or commission comp addressed below).
- Increases the minimum compensation for highly compensated employee exemption from $100,000 to $134,004.
- Automatically updates every three years the salary minimums to maintain exempt status.
- Permits employers to use nondiscretionary bonuses, incentive payments, commissions, and catch-up payments to satisfy up to 10% of the new standard salary level if the payments are made at least on a quarterly basis.
- The regulations become effective December 1, 2016.
This briefing will be led by Jonathan S. Krause, Esq., an employment lawyer at Klehr Harrison Harvey & Branzburg, whose practice focuses on advising and representing clients on employment-related issues.
This prorgam will be held at the SBN Office, 2401 Walnut Street, Philadelphia. Coffee and light breakfast will be served.
Please note: The main entrance to the building is located at 24th & Sansom. Please do not enter off of Walnut Street.