Employers, mark your calendars. On December 1, 2016, the minimum salary threshold for the Fair Labor Standards Act’s (FLSA) white-collar exemptions increases to an annual $47,476. This more-than doubling of the salary test is the biggest change to the FLSA in decades, and will add an approximate 4.2 million employees to the ranks of the non-exempt, to whom you must pay overtime if they work more than 40 hours in a week.
You cannot afford to sleep on this change. If you employ any exempt employees, you need to educate yourself on whether you will need to start paying them overtime beginning December 1. Watch Seth Briskin and Jon Hyman, Partners in Meyers, Roman, Friedberg & Lewis’ Employment Practice Group and John Friend, Senior Vice President, Employee Benefits Division at The Fedeli Group in this video to learn what these changes mean for your business, and how your business should plan.
You will learn:
• How the FLSA has (and has not) changed as a result of the new salary test.
• How to prepare for the change within your organization.
• How to best communicate any changes in status to your employees.
• How to draft and implement the right policies to safeguard your organization from claims for unpaid overtime by non-exempt employees.
• How a wage-and-hour rider to your employment practices liability insurance policy can help mitigate this risk.
• How to manage the post-implementation implications for Affordable Care Act compliance.