Gain a clear understanding of the employees that are impacted by the new DOL regulations and the steps to remain compliant with the FLSA.
New legislation will significantly expand the scope of non-exempt employees under the FLSA. Specifically, the salary threshold for most exempt employees will increase by nearly 25% on July 1, 2024 and then again on January 1, 2025. As of January 1, 2025, 4.2 million American workers are estimated to become newly eligible for overtime pay, and the salary threshold for most exempt employees will increase to $58,656 (nearly 65% more than the pre-July 2024 threshold). In this webinar, we will discuss basic principles for classifying employees as exempt or non-exempt under the ‘White Collar’ and ‘Highly Compensated Employee’ exemptions. We will also discuss calculating overtime for newly non-exempt employees. Finally, we will discuss strategic considerations for determining which employees should receive salary increases to remain FLSA exempt and which employees should transition to receiving overtime compensation. Participants should leave the webinar with a clear understanding of the categories of employees that are impacted by the new DOL regulations, how to calculate overtime under the FLSA, and the steps organizations should consider to remain compliant with the FLSA.
Learning Objectives
- You will be able to review recent changes to FLSA regulations.
- You will be able to identify considerations when identifying employees.
- You will be able to discuss how to calculate Overtime pay.
- You will be able to explain paying bonuses to employees.
Agenda
- Recent Changes to FLSA Regulations
- Considerations for Classifying Employees as Exempt and Non-Exempt Under the New FLSA Regulations
- Calculating Overtime Pay for Nondiscretionary Bonuses Paid on a Quarterly and Annual Basis
- Recognizing Pay Schemes That Potentially Run Afoul of the FLSA
- DOL Rule Providing Clarity on Paying Bonuses to Employees Under the Fluctuating Workweek Method of Computing Overtime
Speakers
Chelsea Till,
Jones Day- Attorney in the Dallas office of Jones Day
- Worked on various FLSA, and state wage and hour matters during her tenure with Jones Day
- Currently working on two wage and hour putative class actions brought against commercial airlines in state court
- Routinely counsels’ clients on wage and hour issues and conducts audits of work sites and employee profiles to ensure compliance with the FLSA
- B.B.A degree from A&M; J.D. degree from Southern Methodist University (summa cum laude and Order of the Coif
Enrique A. Lemus,
Jones Day- Partner in the law firm of Jones Day in Dallas
- Deep expertise litigating and counseling clients on wage and hour matters
- Key member of team defending employers in over a dozen class actions, representative actions and multi-plaintiff lawsuits bringing wage and hour claims under state and federal laws
- B.A. degree, Georgetown University; J.D. degree, Columbia
Who Should Attend
This live webinar is designed for payroll and human resource professionals, controllers, CFOs, accountants, bookkeepers, business owners and managers, and attorneys.
