CCH Employment Law Briefing Analyzes Overtime Rules

The Department of Labor has issued a far-reaching revision of the basic rules on who does and who doesn’t qualify for overtime pay under the Fair Labor Standards Act (FLSA), the federal wage-hour law, but has stepped back from an earlier, more fundamental reworking of the law, according to CCH INCORPORATED, a leading provider of human resources and employment law information.

The proposed changes are expected to cost employers approximately $700 million to implement, but then produce savings of more than $1 billion annually. The original version of the proposed changes was harshly criticized by labor leaders and some legislators, and despite the Department’s softening of many provisions, the new rules are likely to be the center of continued controversy. The new rules are expected to take effect in August of this year.

CCH has issued an Employment Law Briefing analyzing the significant changes contained in this much-debated measure in clear, easy-to-understand terms.

Highlights of the Briefing include:

  • A chart comparing key provisions of the current and proposed tests for executive, administrative and professional employees;
  • An employer "to do" list on implementing the new rules;
  • A discussion of the exempt status of journalists; and
  • A "two-minute history" that provides essential background on the original purposes of the Fair Labor Standards Act and a perspective for evaluating the proposed changes in light of those purposes.

You may like these other stories...

The Governmental Accounting Standards Board (GASB) on Monday defined two approaches for measuring assets and liabilities, which officials said will guide the standard-setting organization in establishing accounting and...
The criteria for reporting a discontinued operation on financial statements was revised by the Financial Accounting Standards Board (FASB) on Thursday.According to Accounting Standards Update No. 2014-08, Presentation of...
Tax writers seek Section 179 extensionTwo tax writers – representatives Pat Tiberi (R-OH) and Ron Kind (D-WI) – are seeking to extend long-term a tax break that allows small businesses to immediately deduct the...

Upcoming CPE Webinars

Apr 17
In this exciting presentation Excel expert David H. Ringstrom, CPA shares tricks that you can use with pivot tables every day. Remember, either you work Excel, or it works you!
Apr 22
Is everyone at your organization meeting your client service expectations? Let client service expert, Kristen Rampe, CPA help you establish a reputation of top-tier service in every facet of your firm during this one hour webinar.
Apr 24
In this session Excel expert David Ringstrom, CPA introduces you to a powerful but underutilized macro feature in Excel.
Apr 25
This material focuses on the principles of accounting for non-profit organizations' revenues. It will include discussions of revenue recognition for cash and non-cash contributions as well as other revenues commonly received by non-profit organizations.