There are new changes for overtime rules effective 12.1.2016. Click on the link below for the ruling.
The key changes are the following:
Updates to salary and compensation levels needed for executive, administrative and professional workers to be exempt from overtime.
- Increases standard salary level for fulltime workers from $455 per week to $913 per week.
- Increases the total annual compensation requirement for highly compensated employees from $100,000 to $134,004, and
- 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.
Mark A. Wilging, CPA, Partner