The Department of Labor (DOL) has released information about the new ruling requiring overtime pay for employees making up to $913 per week (or $47,476 per year). This ruling goes into effect on December 1, 2016. Now is the time to start planning how your business will make this change.
The DOL has outlined 4 actions employers can take:
- Pay overtime (of time-and-a-half) to eligible employees under the new rule.
- Raise employees’ salaries over the new threshold rate of $913 per week.
- Limit employee hours to 40 hours per week and eliminate overtime work.
- Use a combination of the above options.
The DOL has put together a handy website for more information and lots of resources at:
Give us a call if you need assistance preparing for this change.