Pop-Up Business Education Lunch & Learn featuring Fair Labor Standards Act Update effective January 1, 2020!
Join us for our Pop-Up Business Education Lunch and Learn featuring Erin Spencer, owner of My Change Agent, speaking on Fair Labor Standards Act.
Did you know that the Department of Labor (DOL) recently issued an updated overtime rule that increases salary threshold for exempt workers in 2020?
The DOL issued final regulations increasing the salary threshold for exemptions from the Fair Labor Standards Act (FLSA) overtime pay requirements from the current level of $455 per week ($23,660 per year) to $684 per week ($35,568 per year). The new salary threshold will take effect on January 1, 2020.
Under FLSA, employers generally must pay one-and-a-half times the usual hourly rate to any employee who works more than 40 hours in a week, unless the employee: (1) is paid on a salary basis; (2) is paid at least the salary threshold set forth by DOL; and (3) satisfies a duties test as an executive, administrative, or professional employee.
DOL estimates that the final rule will result in 1.3 million currently exempt employees becoming non-exempt.
As a business, are you prepared for this change?