Breakfast & Business-New Department of Labor Regulations

This Breakfast and Business will focus on the Federal Department of Labor’s recent rulings regarding exempt and non-exempt employees.  The final rule radically increases the salary threshold under which most employees will be automatically eligible for overtime pay.  The current federal salary level required for exemption is $455 a week ($23,660 for a full-year employee), which was last updated in 2004, and the new exemption threshold will be $913 a week, or $47,476 per year.
 
In addition, the change in the salary threshold includes an automatic adjustment every three years. The adjustment will be tied to the 40th percentile of full-time salaried workers in the lowest wage region of the country (currently the Southeast). 
 
The overtime rule leaves intact the current so-called “duties test” that determines whether or not certain employees are eligible for overtime even if they make more than the new $47,476 threshold amount.  To be eligible for this exemption, an employee’s job duties must primarily involve executive, administrative, or professional duties as defined by DOL’s regulations. 

DATE:  Friday, September 9, 2016
TIME:  7:30-9:00 a.m. at The Inn on the Lake
COST:  $20 per person
RSVP BY: September 1, 2016.  Cancellations after this date will be billed.
PRESENTED BY:  Trey Clower III & Nick Herman, Paychex, Inc.