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Revised Overtime Rule Will Hit Small Businesses and Non-Profits Hard

On May 18th, the Department of Labor issued the long-awaited final overtime rule, increasing the exempt employee threshold to $47,476 more than double the old threshold of $23,660. We believe this new salary requirement will greatly impact small businesses and non-profits.   Furthermore the exempt threshold will continue to rise in coming years as the new rule includes a provision that the minimum salary will increase every three years. The automatic increase will be based on the 40th percentile of the weekly earnings of full-time salaried workers in the lowest-wage Census region, the South. Employers must comply with the new rule by Dec. 1, 2016—a much longer time to comply than the minimum 60 days required in the proposed rule. We will continue to update you on this new rule as we review it and get closer to the implementation date.   If you have any questions in the meantime do not hesitate to contact us.

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TESTIMONIAL

"As with many small businesses, mine was presenting with a hurdle where I needed someone's expert opinion and assistance. I did my research and found Alex. I read through some of the other recommendations and reviews I found and had a good feeling that Alex could help me in my situation. I called Alex and from the very beginning he was extremely helpful.

Alex was able to explain to me, in depth, more about the hurdle I was facing and provided me with several options to assist me in getting over it. We made a plan of action and were able to get past it, allowing me to focus more on my business. What I admired about Alex was his tenacity as well as his communication. He kept me well informed through every step, as each step was happening.

Alex has my highest recommendation and we'd certainly call him again if in need.'

- Thomas W.
"Strategic Solutions - Superior Service"
104 S. Calhoun Street
Greenville, SC 29601
864.232.2776
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