Based on a March 13, 2014 presidential memorandum from president Obama to the Department of Labor, instructing the DOL to review overtime regulations and make appropriate updates so more Americans will be applicable to overtime pay the department of Labor has been working on potential changes. On May 5th 2015 the DOL sent over proposed overtime regulations to the Office of Management and Budget for review. As employers and associations of the payroll, HR and compensation area we had till September of 2016. As of May 18th the department of labor released the update regulations.
This webinar will give the details around the federal updates and best practices how business can be ready for the changes. Details around the when the changes take effect and what it means for how employees are paid. We will also review all the state minimum wage legislative changes that will impact us in 2016 and beyond. After this webinar you will have the skills and knowledge to implement changes at your company to be compliant.
Areas Covered in the Session :
- Federal and State Minimum wage review to include most up to date changes
- Discussion on how companies should handle minimum wage for states with higher rates then federal.
- Review Federal Overtime Requirements
- Exempt vs. non-exempt
- Overtime Concerns
- Regular Rate of Pay why it is important and how to calculate
- State Overtime Requirements
- State by State Review
- Details of federal regulation changes what are they and when do we as employers need to be ready
- Impacts of changes to companies and best practices on how to handle them
Who Will Benefit:
- Payroll Tax Professionals
- Payroll Department
- Accounting Department
- HR Department