Handy Calculator to Help Estimate How Much the New DOL Overtime Requirement May Cost
October 20, 2015Background
On July 6, 2015, the U.S. Department of Labor proposed to increase the minimum salary required to classify an employee as “exempt” from the Fair Labor Standards Act (FLSA) overtime requirements from the current $455 per week ($23,660 annually) to $970 per week ($50,440 annually). If these proposed changes take effect, every employee paid less than $970 per week will be automatically entitled to overtime pay.
Thank you to Katherine Berland, ANCOR for sharing this “calculator” to help each provider estimate the impact of the proposed new rule!