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...

An examination initiative launched by the US Securities and Exchange Commission (SEC) earlier this week will enable the agency to evaluate whether municipal advisors are complying with new SEC rules that went into effect...
Continuing its efforts to simplify accounting procedures, the FASB has issued a proposed Accounting Standards Update on customer fees paid in a cloud computing arrangement. The newly-proposed update (Intangibles—...
Could the IRS disallow Ice Bucket Challenge charitable contributions?Unless you’ve been living under a rock, you’ve probably heard of – or participated in – the ALS Ice Bucket Challenge.I was...

Already a member? log in here.

Upcoming CPE Webinars

Aug 26
This webcast will include discussions of recently issued, commonly-applicable Accounting Standards Updates for non-public, non-governmental entities.
Aug 28
Excel spreadsheets are often akin to the American Wild West, where users can input anything they want into any worksheet cell. Excel's Data Validation feature allows you to restrict user inputs to selected choices, but there are many nuances to the feature that often trip users up.
Sep 9
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.
Sep 11
This webcast will include discussions of commonly-applicable Clarified Auditing Standards for audits of non-public, non-governmental entities.