The Department of Labor’s new Overtime Rules are causing a great deal of planning and decision-making very quickly, since employers need to comply by December 1, 2016 – just a few months from now.
These rules are predicted to cause 4.2 million employees nationwide to receive overtime pay who weren’t before, and to make it easier for 8.9 million people who already were eligible (but weren’t receiving overtime pay) to be fairly compensated.
One interesting note: this new salary threshold will not be static for several decades, like the last time it was set. Under this new regulation, the salary threshold will be reviewed and updated every 3 years.
Here is a handy collection of resources and responses.
The sources for these resources are from both the nonprofit community (MNCN website, which also includes several trainings) and the business community.
Here is the rule itself (with a video): Extra Hours = Extra Pay
For further clarity, the US DOL issues some fact sheets to assist with implementation:
Brief Fact Sheet for the Non-Profit Sector
More Detailed Fact Sheet for Non-Profit Organizations and “white-collar” work including information on the duties test
Here is some additional information from AccountingWeb on these new rules.
And a variety of aspects from FastCompany:
There will be short-term adjustments and challenges, but we all do better when we all do better!
Further resources, helpful information welcome!