Keiter is closely monitoring the Department of Labor's (DOL) proposed rule that would increase the standard annual salary exemption from $23,660 to $50,440.
The proposed changes would radically increase the thresholds for overtime rules, unreasonably expanding the number of employees eligible for overtime pay. Ultimately, the proposed DOL rule could impact major business decisions like hiring, expansion, offering new benefits or more flexible work arrangements for employees, and possibly even require reductions at firms and companies.
Keiter is a member of the American Institute of CPAs that is actively advocating on our behalf, voicing concerns “that the DOL's proposed rule will increase the administrative burden in complying with the regulations while dramatically increasing employers' payroll costs.” Be assured that we will keep you informed of any new developments.
Questions on the proposed ruling? Contact your Keiter representative or 804.747.0000 | email