2016 Labor Law Update Workshop

Monday, September 26, 2016
12:30-1:30 p.m.

Speaker: Kayla Storm, Investigator, US Dept. of Labor, Wage & Hour Div.

Location:
CVB/Chamber Board Room
2111 North Trenton Street
255-2031

If you are not available, suggest that your CPA/Accountant attend.

On May 18, 2016, President Obama and Secretary Perez announced the publication of the Department of Labor's final rule updating the overtime regulations, which will automatically extend overtime pay protections to over 4 million workers with the first year of implementation.

Key Provisions of the Final Rule

The Final Rule 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 $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 $134, 004; and

3. Establishes a mechanism for automatically updating the salary and compensation levels every three years.

The effective date of the Final Rule is December 1, 2016.

Are you prepared? Do you have a plan of action for your organization?

Join us to learn what you need to do to create a plan, or to ensure that your existing plan will comply with the new regulation.