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    August 18th -Round Table Discussion About the FLSA New Overtime Regulations Effective 12/1/16

    Date: August 18, 2016, 11:30am – 1:00pm
    Rasmussen Business College
    226 Park Ave S.
    St. Cloud, MN 56301
    FREE - Registration Required
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    Registration Required.  This a brown bag event so bring your own lunch and beverage.

    Department of Labor Announces New Overtime Regulations

    Join us on August 18th for a FREE Event, talk with other local business owners to see how other companies are preparing for this change.

    In 2014, President Obama announced plans to increase the minimum threshold salary levels for “exempt” employees under the Fair Labor Standards Act (FLSA).  Currently, under the FLSA, an employee is “exempt” (meaning, the employee is not entitled to pay for any hours worked over 40 hours per week) if (1) the employee earns at least $23,600 per year (or $455 per week) and (2) the employee’s position is administrative, professional, or executive (e.g. white-collar).

    On May 18, 2016, the Department of Labor announced the threshold salary levels will be changing for exempt employees, effective December 1, 2016.  According to the new regulations, an employee is now exempt from being paid overtime only if (1) the employee earns at least $47,476 per year (or $913 per week).  The employee’s position continues to need to be administrative, professional, or executive.

    The take away? As many as 4.2 million workers are currently classified as exempt, do not get paid for overtime hours, and have annual salaries between $23,600 and $47,476.  The employees who fall between this salary range will now either need to be paid for any hours worked over 40 hours per week or their salaries will need to be raised beyond the $47,476 threshold.

    To Register Click Here