Now approved, the changes from the U.S. Department of Labor (DOL) to overtime rules under the Fair Labor Standards Act (FLSA) will increase the minimum salary requirements for white collar exemptions significantly from $23,660 to $47,476 annually.
Do you know the difference between an exempt and non-exempt employee? When must employers pay overtime? Find out. Misclassifying just one employee may cost thousands of dollars. Multiply that by the number of employees you have who fall between the old and new salary thresholds, and your organization could be faced with extensive legal and financial costs.
Use these online calculators to help estimate the impact to your organization.
Don’t wait until the rule goes in to effect on December 1, 2016 to see the impact of these changes – be prepared while there’s still time to better understand and thoroughly evaluate your options. ADP® carefully monitors regulatory activity and updates an FLSA resource page to help you plan and prepare.