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HR News, Payroll

Exempt or Non-Exempt? Comment Period Ends Today!

What will the verdict be?

The comment period for the Department of Labor’s Proposed Rule to re-vamp the minimum wage and laws for salaried-exempt workers is up today! If you have not yet made your opinions known, there is still time. But, you had better hurry. At midnight this baby turns into a pumpkin.

overtime FLSA proposed ruleLet’s re-cap the rule!

Exempt employee minimum salaries will increase to about $970 weekly / $50,440 annually.
Annual increases will be automatic by a specific percentage
Duties Test changes are a possibility, but unclear
Non-discretionary Bonuses maybe capped at 10% when counted as part of the annual salary

That sounds pretty cut and dried. So, what’s the big deal? Ummm… the $14.8 Billion estimated cost to employers in the first year of implementation. That’s what!

This update and change to the way  workers are paid is pretty exciting. Employers who would like to be heard on this matter are urged  to comment. Tell the lawmakers what, how, and why these changes are  important to your business. But, hurry! The deadline is nigh.

Until Next Time, Be Audit-Secure!

Lisa Smith

About LISA SMITH

Lisa Smith is CEO of Andere Seminars, LLC and Chief Content Developer at BeAuditSecure.com. Follow her on Twitter, connect with her on LinkedIn, listen to her Small Business Spoonfuls Podcast, and find more from her in Audit-Secure Authority at BeAuditSecure.com.

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