New overtime exemption rule
As many of you may be aware, the U.S. Department of Labor (DOL) released the final rule increasing the salary threshold for white-collar exemptions to the federal overtime pay requirements under the Fair Labor Standards Act from $23,660 to $47,476 annually.
Employers will need to be in compliance with the new rule by Dec. 1, 2016. This ruling has financial, and staffing implications at the University and other similarly situated institutions and non-profits.
The management team, however, has anticipated this ruling months ago and has begun to work on plans that will mitigate the impact. There are several options available to comply with the revised regulations and we will spend the next couple of months working through those that work best for Texas Wesleyan.
Faculty members and possibly some staff positions will be exempt from the rule change. Your managers and leadership will update you as soon as possible on any changes.