DOL’s Proposed Rule on Overtime Regulations.
DOL’s new Overtime Regulations under the Fair Labor Standards Act, which increases the minimum salary for the “white collar” overtime exemption from $23,660 annually to $35,308 annually. This means that workers making under $35,308 annually would be eligible for overtime pay. The purpose of the roundtable will be to hear directly from small businesses about the impact of the proposed rule.
Comments on the rule are due May 21, 2019.
For more information, please visit: https://www.dol.gov/whd/overtime_pay.htm
• Workers for whom the exemption is claimed must also meet certain job duties for executive, administrative and professional employees.
• In 2016, DOL finalized a rule that changed this minimum salary to $47,476. This rule was enjoined by a federal court and never became effective. Small businesses told Advocacy that the minimum salary level of $47,476 set in the 2016 was too high, and disproportionately affected certain low wage regions and industries.
• This proposed rule also allows employers to use nondiscretionary bonuses and incentive payments (including commissions) that are paid annually or more frequently to satisfy up to 10 percent of the standard’s salary level.
• DOL will propose updates to the salary thresholds every four years, with a notice-and- comment rulemaking period.
• Advocacy is seeking feedback on the economic impact of this rule on your small business, and if you can recommend any regulatory options that may minimize the cost of this rule.
Roundtable meetings are open to all interested persons, with the exception of the press, in order to facilitate open and frank discussion about the impacts of Federal regulatory activities on small entities. Agendas and presentations are available to all, including the press. Anyone who wants to receive roundtable agendas or presentations, or to be included in the distribution list, should
forward such requests to Janis.Reyes@sba.gov. The purpose of these Roundtable meetings is to exchange opinions, facts and information and to obtain the attendees’ individual views and opinions regarding small business concerns. The meetings are not intended to achieve or communicate any consensus positions of the attendees.