New Overtime Rules Explained August 30th
In spite of objections raised by members of the business community nationwide including this Chamber, the U.S. Department of Labor finalized updated overtime rules in May and all businesses will be expected to comply beginning December 1, 2016. While key provisions are shown below there are still a lot of questions about how to apply the rules and which workers will be subject to overtime. Michael Santo, Bechtel and Santo, will offer a one-hour brown bag session on the rule, Tuesday, August 30th, 12:00 PM in the Chamber briefing room. The session is free but registration is requested in order to prepare sufficient materials. To register click here.
Key Provisions of the Final Rule
The Final Rule focuses primarily on updating the salary and compensation levels needed for Executive, Administrative and Professional workers to be exempt. Specifically, the Final Rule:
1. Sets the standard salary level at the 40th percentile of earnings of full-time salaried workers in the lowest-wage Census Region, currently the South ($913 per week; $47,476 annually for a full-year worker);
2. Sets the total annual compensation requirement for highly compensated employees (HCE) subject to a minimal duties test to the annual equivalent of the 90th percentile of full-time salaried workers nationally ($134,004); and
3. Establishes a mechanism for automatically updating the salary and compensation levels every three years to maintain the levels at the above percentiles and to ensure that they continue to provide useful and effective tests for exemption.
Additionally, the Final Rule amends the salary basis test to allow employers to use nondiscretionary bonuses and incentive payments (including commissions) to satisfy up to 10 percent of the new standard salary level.
Cost: Free to attend. Registration required. Seating is limited.
Francis McDonald is the Outreach & Education Coordinator for the Colorado Civil Rights Division of the State's Department of Regulatory Agencies. Frances works with employers, interested groups and individuals throughout the state of Colorado to educate them regarding the anti-discrimination sections of Colorado law.
Topic of Program:
All the basics of Colorado employment discrimination, including an overview of the protected classes, discriminatory harassment and discrimination, sexual harassment in the workplace, the rights and responsibilities of employers and employees, as well as recent changes in Colorado legislation which expand the remedies allowed to the successful anti-discrimination in employment litigant.
