The Department of Labor (DOL) has issued its final ruling regarding the changes to pay regulations for exempt employees, which may have a serious impact on the way most employers pay their employees. Although this change hasn’t gone into effect yet, you need to understand what this ruling means, be prepared and plan ahead.
Since 2004, the minimum weekly salary has been $455/week. Now, with the announcement of the final ruling, the new minimum weekly salary for exempt employees will be $913 per week (or $47,476.00 per year), effective December 1, 2016.
DOL Final Rule: Overtime, Exemptions and Pay Provisions Webinar
Our webinar will explain the details of the new ruling and provide clarification on what it means to be exempt or non-exempt and why it is important.
Watch our webinar, to learn the following:
- The details of the new ruling on exemptions and overtime from the DOL
- Clarify exempt vs. non-exempt and why this is important
- Tips on planning for the changes with your payroll practices and policies
- What you should do to plan for the changes with your employees