#KAedchat – FLSA Policy and Practice Monday, November 21st from 6:00-7:00pm ET
In late Spring 2016, the Department of Labor issued a final ruling on the highly anticipated update to overtime pay regulations under the Fair Labor Standards Act (FLSA). The Final Rule significantly increased the salary an executive, administrative, or professional employee must earn to be exempt from receiving overtime compensation for work beyond the traditional 40 hours per week. Specifically, the Final Rule increased the salary level an employee must be paid as one component to overtime pay exemption from $23,660 per year to $913/week, or the equivalent of $47,476 annually.
These changes represent good news for many hard working professionals in higher education whose compensation may be increased in response to the new rule. But these changes may disadvantage other staff members in important ways, and they portend fiscal and managerial challenges that leaders in higher education must address to comply with the new requirements, set to take effect on December 1. Indeed, college and university leaders nationwide have been hard at work calculating the fiscal implications of the Final Rule and examining labor law, regulation, and guidance to identify strategies to bring their campuses into compliance. Constrained by limited fiscal resources and staffing options, and coupled with a wide portfolio of work responsibilities, many institutional leaders are looking for support from their peers to help them navigate the combination of compliance, human resources, and fiscal dimensions inherent in implementation of the Final Rule.
Join our own Dr. Andrew Morse and the rest of the K&A Team this Monday, November 21st at 6pm ET as we share and learn about different approaches to FLSA regulation, and what the current and future political landscape will mean for policies like these.