RECORDED TRAINING COURSE
New Department of Labor (DOL) Overtime Regulations in Place and effective on January 1, 2020. Is your Company Ready!
On September 24, 2019, The Department of Labor announced that the Proposed Rule for Overtime has been approved and now a regulation that would make more than a million more American workers eligible for overtime. Under currently enforced law, employees with a salary below $455 per week ($23,660 annually) must be paid overtime if they work more than 40 hours per week.
This regulation will be effective in 2020 has the salary threshold as $684 per week and $35,568 annually indicating changes to the overtime structure.
The proposal increases the total annual compensation requirement for “highly compensated employees” (HCE) from the currently enforced level of $100,000 to $147,414 per year.
Allowing employers to use non-discretionary bonuses and incentive payments (including commissions) that are paid annually or more frequently to satisfy up to 10 percent of the standard salary level.
This will be effective on January 1, 2020 but Employers must start preparing now!
- Learn how to conduct an internal audit to ensure compliance
- What is the proposed overtime ruling?
- How is it different from the previous overtime regulations?
- Why is the DOL asking for feedback by Employers?
- Why are Employers opposed to the Overtime Ruling?
- What companies are impacted by the changes?
- How are Non-Exempt employees impacted by the change?
- Is the new ruling expected to change the DOL definitions?
- What does the DOL New Ruling change the Highly compensated employees?
- What changes do Employers need to prepare before the new ruling is effective?
- How can Employers communicate the changes to employees?
- What financial impact will Employers have when changes are made?
- Penalties and Fines if ruling is violated
Why You Should Attend?
This webinar will give you the most up to date Overtime requirements and how it will affect employers along with a review legislative attempts in the past couple years. Best practices on how employers can be prepared to implement the new rules and make sure employers on compliant by Jan 1 of 2020.
Who Should Attend?
- CEO, CFOs
- Board of Directors
- Program Managers, Office Managers (with HR Roles)
- Payroll Professionals
- HR Workplace Compliance Professionals (Officers, Directors, Managers and Specialists, Generalists)
- HR Professionals
- Accounting, Tax and Finance Professionals
- Benefit and Compensation Professionals
In this Recorded Session, you can listen to Q&A which includes direct answer from our expert.