Thank you to those who attended today’s webinar, “New DOL Overtime Exemption Rules – What You Really Need to Know Now.” We hope that everyone enjoyed the presentation and learned information that will assist in getting your organization ready for compliance.
For those unable to attend, here are five key takeaways from the presentation:
- Employers must be in compliance with the new overtime rule by December 1, 2016 (but also check state law for any notice requirements related to change in compensation)
- New minimum salary level is $913 per week or ($47,476 annualized), with salary increases every 3 years
- Identify employees who are at or below the new salary level and decide whether you will increase the salary to meet the threshold, restructure the job or re-classify the position as non-exempt
- Review, update and provide training on wage and hour policies
- Prepare a communication plan for any changes