Fair Labor Standards Act: Lunch & Learn Opportunity
The new (Fair Labor Standards Act) overtime rule could impact you personally, or could impact your overall finances and employees if you’re a business owner. So what exactly will the new rule mean, who qualifies for the changes and how will it impact your business? Join the Florence Chamber and the Young Professionals of Florence for a Lunch & Learn Program that will provide you with some of the answers.
The program will take place on Wednesday, July 20th from 12-1:30 pm in the Stukes Meeting Room of the Florence County Library and will feature presentations and Q&A with a variety of speakers on the new Fair Labor Standards Act (FLSA.) Lunch will also be included.
The cost to attend is $15 for Chamber and YP members, $20 for non-members and $15 for non-profit employees.
To register or for more information, click on the link below or call the Chamber at (843) 665-0515.
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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.
