Will the New Overtime Rules Impact Your Bottom Line?

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Effective December 1, 2016, business owners must provide overtime pay to salaried employees who earn less than $913 per week or $47,476 per year. This is a substantial increase to the Department of Labor’s Fair Labor Standard Act (FLSA)’s previous salary level of $455 per week or $23,660 annually.

While the FLSA ensures minimum wage and overtime protections for most employees, the employers are exempt from paying overtime to employees who meet all of the following three criteria:

  1. Paid a predetermined and fixed salary that is not subject to reduction because of variations in the quality or quantity of work performed
  2. Paid a …read more

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