New Overtime Rules from the Department of Labor

There are new changes for overtime rules effective 12.1.2016. Click on the link below for the ruling.

dol-overtime-rule-changes-12-1-2016

The key changes are the following:

Updates to salary and compensation levels needed for executive, administrative and professional workers to be exempt from overtime.

  1. Increases standard salary level for fulltime workers from $455 per week to $913 per week.
  2. Increases the total annual compensation requirement for highly compensated employees from $100,000 to $134,004, and
  3. Compensation levels will automatically updated every three years

For questions regarding this and its impact on your company, please feel free to contact our office.

Thank you,

Mark A. Wilging, CPA, Partner