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The U.S. Department of Labor released a Final Rule 2024, raising the salary threshold to qualify for certain overtime exemptions under federal law. Most importantly, it significantly raises the minimum salary threshold for certain “white collar” workers—executives, professionals, and administrative personnel.
This webinar discusses how to calculate overtime under the FLSA rules for non-exempt employees. It includes definitions of overtime and calculation examples. The new rules for overtime under the DOL, which took effect on July 1, 2024 will be included in the webinar. New set of Rules will be effective from Jan 1st, 2025.
Calculating overtime pay for non-exempt employees sounds so simple. Common folk lore says you simply count the hours the employee works beyond 40 hours a week. Then you multiply that by 1.5 times their hourly pay rate and you’re done right? Not so fast. The truth is that overtime rules and the mathematics required to arrive at the correct calculation can be extremely tricky. Overtime under the Fair Labor Standards Act is based on a unique term, created in 1938, known as the regular rate of pay. And calculating the regular rate of pay is more complex than it appears. What’s included in the calculation?
Then what happens if you get it wrong? Nobody pays attention, do they? Penalties for overtime violations can be severe with the possibility of fines, imprisonment or both! Add civil suits to the mix and the results can be devastating to any business no matter how large or small! And just to make it interesting, most states use the same definition to calculate overtime as the FLSA does. So, one error can earn you double the penalties.
· The new rules for overtime under the DOL, which are in effect from July 1, 2024
· What is the definition of overtime under the FLSA – it’s not what most people think
· What is the Portal-to-Portal Act and how does it affect overtime
· How to calculate the regular rate of pay
· Tracking hours worked and the use of rounding practices
· The eight narrowly construed exceptions to inclusion of payments in the regular rate
· When you must include a bonus in calculating your employee’s overtime pay
· What is the overtime premium and how is it calculated
· How to calculate overtime if a bonus covers more than one workweek
· Using the weighted average method to calculate overtime when and where it must be done
· When and how to use the “fluctuating workweek”
· When can the “alternate” method of calculating overtime be used
· Payroll Executives/ Managers/ Administrators/ Professionals/ Practitioners/ Entry Level Personnel
· Human Resources Executives/ Managers/Administrators
· Accounting Personnel
· Business Owners/ Executive Officers/ Operations and Departmental Managers
· Lawmakers
· Attorneys/ Legal Professionals
· Any individual or entity that must deal with the complexities and requirements of Payroll compliance issues
Vicki M. Lambert, CPP,
is President and Academic Director of The Payroll Advisor™, a firm specializing
in payroll education and training. The company’s website www.thepayrolladvisor.com offers a payroll news
service which keeps payroll professionals up-to-date on the latest rules and
regulations.
With nearly 40 years of hands-on experience in all facets of payroll
functions as well as over three decades as a trainer and author, Ms. Lambert
has become the most sought-after and respected voice in the practice and
management of payroll issues. She has
conducted open market training seminars on payroll issues across the United
States that have been attended by executives and professionals from some of the
most prestigious firms in business today.
A pioneer in electronic and online education, Ms.
Lambert produces and presents payroll-related audio seminars, webinars, and
webcasts for clients, APA chapters, and business groups throughout the country.
Ms. Lambert is an adjunct faculty member at Brandman University in Southern
California and is the creator of and instructor for their Practical Payroll
Online program, which is approved for recertification hours by the APA. She is
also the instructor for the American Payroll Association’s “PayTrain” online program
also offered by Brandman University.
SHRM -
Pearl Education is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.5 PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit - portal.shrm.org.
HRCI -
This webinar has been approved for 1.5 HR (General) re-certification credit hours toward California, GPHR, HRBP, HRMP, PHR, and SPHR recertification through the HR Certification Institute.
The use of this seal is not an endorsement by the HR Certification Institute of the quality of the activity. It means that this activity has met the HR Certification Institute’s criteria to be pre-approved for re-certification credit.
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