Fair Labor Standards Act Seminar Highlights Upcoming Overtime Changes
A large crowd was on hand Wednesday for the YP and Chamber Lunch & Learn on the Fair Labor Standards Act! The presentation is taking place at the Drs. Bruce and Lee Foundation Library.
Reynolds Williams, Mark W. Buyck III, Chamber President Mike Miller and Young Professionals President Meggie Baker are working together to present the program on the new overtime rule that could impact business owners, overall business finances and employees.
Thank you to everyone taking part and please feel free to tag yourself if you are featured in the photos and to share the album as well.
More information on the FLSA:
The Overtime Rule
In 2014, President Obama directed the Secretary of Labor to update the overtime regulations to reflect the original intent of the Fair Labor Standards Act and to simplify and modernize the rules so they’re easier for workers and businesses to understand and apply. The department has issued a final rule that will put more money in the pockets of middle class workers – or give them more free time.
The final rule will:
Raise the salary threshold indicating eligibility from $455/week to $913 ($47,476 per year), ensuring protections to 4.2 million workers.
Automatically update the salary threshold every three years, based on wage growth over time, increasing predictability.
Strengthen overtime protections for salaried workers already entitled to overtime.
Provide greater clarity for workers and employers.
The final rule will become effective on December 1, 2016, giving employers more than six months to prepare. The final rule does not make any changes to the duties test for executive, administrative and professional employees.
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