As you may remember, last year the DOL proposed to raise the required minimum annual salary for overtime pay exemption to $50,440. The current standard salary level required for exemption is $455 a week, $23,660 for a full-year worker. The last update to this exemption was in 2004
However, the DOL delayed until late 2016 the release of its final rule on modifications to the FLSA. This happened after receiving nearly 300,000 comments (many from the small business and nonprofit community).
While we await what may be the final rule, it is suggested that members consider reviewing all job classifications in order to ensure accuracy, clarity of duties and compliance with the current rules, as well as preparing for the final DOL modification as they may have as little as 30 days to comply once announced.
Next time we’ll take a look at:
THE LABOR DEPARTMENT’S NEW REPORTING REGULATIONS
We’d love to hear from YOU! If you have any questions or suggestions, feel free to contact Damon directly at (404)518-5759 or [email protected].
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