The DOL overtime rule, had it not been ruled invalid, would have meant changes to your employees’ classification—and your payroll. For example, employees who were recently considered exempt may have become newly nonexempt. Now, the July 1 increases to the salary threshold are void. Minimums...
Joshua W. Abel
Legal battles continue over the DOL’s authority to raise the salary threshold. So far, however, the rule has been blocked only as it applies to the state of Texas as an employer while the district court hears the underlying legal challenge. But even though the ruling only impacts Texas sta...
The Labor Department estimated that an additional four million lower-paid salary workers would become eligible for overtime protections in the first year under the new rule. An additional 292,900 higher-compensated workers were also expected to get overtime entitlements through separate threshold increa...
Minimum salary threshold increases These thresholds are used in part to determine if an employee is eligible for overtime (non-exempt) or not (exempt). Salary level is just one of three tests in determining exemption, but is the key threshold changing. ...
This is known as the Standard Salary Threshold. The new rule, however, will increase the threshold over the coming years: On each of these dates, employees who are paid below these salaries will be eligible for overtime pay. Additionally, there will be an increase in the annual salary ...
You might even get a salaryraiseto $47,476, just so that you can remain exempt from overtime rules. That’s probably OK, too, depending on your job duties. However, if your manager starts praising the freedom of being an independent contractor, or tells you that you’re getting a raise...
New Overtime Rules Will Affect Community Banks Reports on the effect of overtime rules implemented by the U.S. Department of Labor on community banks in the U.S. Highlights of the overtime rules; Amount of minimum salary of a white collar employee following the implementation of the ... ...
A new overtime rule is about to greatly impact the American middle class. The Department of Labor (DOL) has announced an updated regulation that increases the salary threshold for paid overtime from less than $455 per week to $913 per week. Before, salaried workers were only entitled to pa...
What new rules on overtime pay mean to physician practices In May of this year, President Obama and the U.S. Department of Labor ("DOL") released the long-awaited Final Rule revising the minimum salary requirement for an employee to qualify for the overtime exemption under the Fair Labor ...