Get the story straight.
- The final FLSA Overtime Exemption Rule was published on May 18, 2016
- It includes an exempt employee salary threshold of $47,476 – more than double the previous amount
- Employees who are currently accustomed to being exempt may now be classified as non-exempt
- This change is expected to impact more than 4 million employees not currently not overtime eligible
- All employers must comply with the new regulations by December 1, 2016
With these new rules comes new challenges. It is critical that employers understand these important changes from both a compliance perspective and an employee point of view.
Now is the time to act!
Have you analyzed the impact of the new FLSA overtime exemption rule on your entity?
Baker Tilly professionals can offer recommendations on how to move forward to ensure compliance with the new rule by December 1. The Department of Labor is focused on identifying wage and hour violations. Completing a full audit now can prevent future problems – including significant fines and penalties.
For more information on this topic, or to learn how Baker Tilly accounting and assurance specialists can help, contact our team.