by David M. Wolfenden, CPA, CVA, MS, Managing Director
In recent months, we have written to you about the new overtime rule and how it could impact construction firms and nonprofit organizations. The new regulations under the Fair Labor Standards Act were set to take effect on December 1. Implementation of the new overtime rule has now been delayed by order of a federal judge.
Timothy Holly, Chair of the Delaware State Chamber’s Employer Advocacy & Education Committee, summed up the announcement in a LinkedIn post:
“The bottom line is employers are notrequired to implement the pay hikes or reclassification to non-exempt status to deal with the rule implementation that has been coming. For now, nothing changes from how things have been for a long time. The salary threshold for exempt status remains $23,600. But stay tuned as more developments are sure to come.”
Our team will continue to monitor developments in this matter. If you have any questions, please contact Dave Wolfenden at (302) 254-8240.
The articles in this blog are published with the understanding that the authors are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and, accordingly, assume no liability whatsoever in connection with its use.