Coming Soon - New Minimum Salary Levels for Exempt Employees, Are You Ready?
Recorded Webinar | Bob McKenzie | All Days
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The Department of Labor recently released its long awaited proposal to increase the minimum salary to qualify for exempt status from $684 per week to $1,059 per week or from $35,568 to $55,068 annually. These changes have not become law yet, but something close to it will soon. It is now time for organizations to plan for these changes.
The Fair Labor Standards Act (FLSA) is one of the most misunderstood employment laws in the country. Basically, it governs the payment of wages and who must be paid overtime. To make things more confusing, the Department of Labor has implemented a number of exemptions to the requirement to pay overtime such as the White-Collar Exemptions and the 7(i) exemption for retail and service establishments. The DOL also allows different ways of computing overtime pay.
Alaska, California, Colorado, Maine, New York and Washington have developed their own rules that are different from Federal Law. Thirty-three states have implemented minimum wages that are higher than the Federal Minimum wage of $7.25 per hour. In addition, many municipalities have their own minimum wage laws.
Many organizations do not understand their responsibilities with regard to what types of positions qualify as white-collar exemptions, how to handle commissions, shift differential and production bonuses for hourly employees, and other nuances of complying such as handling training and travel time.
The FLSA is a Federal Law, but employers must know that many states, municipalities, and any type of governmental contract may have their own rules regarding minimum wage and overtime.
Maintaining compliance is critical to your business. Failing to do so can cost hundreds of thousands of dollars.
Why you should Attend:After going through this webinar, participants will know:
Areas Covered in the Session:
Who Will Benefit: