Posted Tuesday, July 12, 2016
Make sure that your business is ready for the new Overtime Rule that goes into effect on December 1, 2016 by attending a special presentation hosted by the Penobscot Bay Regional Chamber of Commerce. The program, presented by Sarah Newell of Eaton Peabody Attorneys at Law, will be held on Wednesday, July 27, 2016 at The Farmstead Conference Center at 399 Commercial Street in Rockport, Maine. Continental breakfast begins at 8:30 am, and the presentation will run from 9:00 am to 10:30 am.
On May 18, 2016, the U.S. Department of Labor issued its long awaited overtime rule changing the salary basis requirement for overtime exemption from $455 per week to $913 per week and set the total annual compensation requirement for highly compensated employees at $134,004. This is a significant change that will pose challenges for Maine employers today and in the future.
The new rule, effective December 1, 2016, redefines which white-collar employees, including executive, administrative, professional, outside sales and computer employees, are protected by the Fair Labor Standards Act (FLSA) minimum wage and overtime standards. The presentation will help you understand the new Final Rule as compared to the old rule - what changed and didn't change, and the legal and financial implications for your business.
Ms. Newell will address the following questions for employers: Do your current "exempt" employees' salaries meet the new threshold for "exempt" status? Have you budgeted for significant salary increases for exempt employees? Have you considered how to structure salaries for higher-level exempt employees when the new minimum salaries go into effect? Is reclassification of exempt employees to hourly a viable option, considering overtime pay requirements? Are lay-offs a possibility or probability and, if so, how should you prepare?
Sarah E. Newell, Shareholder of Eaton Peabody, represents employers in the private, nonprofit and public sectors and her practice is focused on employment and labor law. She assists clients with a broad range of issues including wage & hour, sexual harassment, FMLA, employer discipline and discharge, discrimination, whistleblower actions, collective bargaining, and other employment and labor issues. Sarah is a member of the National and Maine Councils of School Board Attorneys.
Reserve your seat now for this timely information session. Call the Chamber of Commerce’s Rockland office by Friday, July 22 at 207-596-0376. This event is $10 for Chamber members; $20 for non-members. All major credit cards are accepted.