White Collar' Exemption Rules: How Will They Affect Your Business?

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White Collar' Exemption Rules: How Will They Affect Your Business?
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Dunwoody Perimeter Chamber says
The Dunwoody Perimeter Chamber's August 17, 2016 Membership Luncheon you will have the opportunity to learn more about the Department of Labor's 'White-Collar' Exemption rules affecting both for and not for profit organizations that will be effective on December 1, 2016.

A summary of the changes the DOL announced on May 18, 2016 are as follows:
The minimum salary required for an employee to be eligible for a white collar overtime exemption has increased from $455 per week or $23,660 annually to $913 per week or $47,476 annually.
The amount for the minimum salary requirement will automatically update every three years based on the 40th percentile of full-time salaried workers in the lowest-wage Census region.
The annual compensation required for the Highly Compensated Employee exemption has increased from $100,000 annually to $134,004 annually.
The amount of salary required for the Highly Compensated Employee exemption will automatically update every three years based on the 90th percentile of full-time salaried workers nationally.
Up to 10% of standard salary level can come from non-discretionary bonuses, incentive payments, and commissions, paid at least quarterly.
No changes were made to the standard duties test.
The changes will be effective on December 1, 2016.

During the event Cathy Kruse, Payroll Implementation Supervisor at Insperity, will bring her wealth of experience and knowledge to participants. She will discuss the changes mentioned above and also provide information on the next steps businesses should take before December 1, 2016 which include:

Evaluate your current classifications of exempt employees in light of the salary test and the duties test.
Evaluate which of your employees may be impacted by the proposed change (i.e., Exempt employees currently making less than $47,476 and/or employees who do not perform exempt-level work).
Review your bonus, incentive and commission plans, if any.
Review your wage-hour processes and policies, including time-keeping for hourly employees.
Develop communication plan for reclassified employees, if any.
Develop new compensation plans for reclassified employees, if any.
Prepare to train reclassified employees and managers.
After providing this important information Ms. Kruse will then answer specific questions from attendees.
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By: Dunwoody Perimeter Chamber

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