Bruce’s Summary: The new overtime rules affecting who is exempt and who isn’t were due from The Office of Management and Budget on May 16 but have not been published yet. The authors say the definition of exempt positions will change and employers should be getting ready. The magic salary number hasn’t been finalized, but speculation is around $47,000.
The authors further state that if the regulation is challenged, which it has a high probably of occurring under the Congressional Review Act (CRA), it may be nullified. Due to the timing, the review may occur by a new President. Time can only tell but employers should review their payroll systems to ensure they are adequate to account for additional hourly employees, ensure policies and practices are up to date, and put into place proper training as this will affect certain exempt employees. Employers will have 60 days to implement the changes which is not a lot of time, but they will be able to say, “The law made us do it.”. “None of the information contained herein should be construed as legal advice, nor are Calvin Associates consultants engaged to offer legal advice. If there is a need for legal advice, please contact and seek the advice of independent legal counsel.” www.calvin-associates.com