DOL’s New Rule on Overtime

The Department of Labor has made its first significant revisions to the FLSA in three decades. These rules affect the minimum salary requirements necessary to consider certain workers exempt from overtime pay.

On May 18, 2016, President Obama and Secretary Perez announced the publication of the Department of Labor’s final rule updating the overtime regulations, which will automatically extend overtime pay protections to over 4 million workers within the first year of implementation. President instructed the Department to look for ways to modernize and simplify the existing FLSA regulations while ensuring that the FLSA’s intended overtime protections are fully implemented.

The ruling takes effect on 12-1-2016. Now is the time to make sure you understand the changes in the law, and how it affects your company.

Areas Covered in the Session :

  • The new rules on “White Collar” exemptions, as well as revisions on professional and other exemptions.
  • The revised minimum salary requirements, as well as job duty requirements
  • How to calculate overtime
  • Rules for private companies, non-profits and more.

Who Will Benefit:

  • Payroll Department
  • Accounting Department
  • HR Department
  • Small to Medium Sized Business Owners
  • Payroll Apprentices
  • Start up Entrepreneurs
  • Compensation Practitioners

Mark Schwartz has over 15 years experience in State and Federal payroll tax audits, collections and payroll consulting. As an auditor, Mark prided himself on his ability to educate his auditees on State and Federal payroll tax requirements. Whatever issues he found in audits, he ensured the auditee knew how to comply in the future. He worked to minimize company disruptions in the audit process.

Mr. Schwartz provides consulting services encompassing payroll processing and payroll tax issues. These include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, benefits, etc. Mark has represented both clients and the State in front of the State Appeals Board. He understands the complexities of local wage laws, unemployment and disability claims, and other wage and benefit issues affecting employees.

In recent years Mark has helped many clients with back payroll tax returns for all 50 states and the IRS. He has reviewed payroll journals, time records, tax forms and other payroll documents for accuracy and completeness.

Mark is a participating member of the American Payroll Association. He earned his BA and MBA in Finance at Santa Clara University. He has held Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials. Mark is currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association.

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