Description:
This webinar will give the details on the federal updates and best practices on how business can make changes. Details around 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.
Why should you attend:
To get the most up to date activity and regulations in regards to calculating overtime correctly.
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 than federal.
- Current legislative activity and what it means to employers
- 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
- 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.
Background of the Topic:
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 until September of 2016. As of May 18th, the department of labor released the update regulations. Dec 1, 2016, is when companies were required to be compliant with these new laws. As of November 2016 21 state files suit stopping this regulation from going into effect. Will review the status of any pending legislation as of the date of webinar such as potential comp time. Very little activity has happened in the last year, so how do companies handle overtime properly. This webinar will cover the federal and state regulations and how to properly handle them.
Who will benefit:
- Payroll HR Professionals
- Accounting professionals
- Compensation professionals.
