Free DOL webinar for nonprofits June 7 addresses OT regs
The Department of Labor has scheduled a free webinar specifically for nonprofits on Tuesday, June 7 from 1 p.m. to 2:30 p.m. to discuss the Overtime Final Rule that goes into effect on Dec. 1.
DOL issued its Final Rule on May 18, raising the overtime threshold so that in order to qualify as exempt (and thereby not eligible for overtime pay), a worker must have a salary of at least $47,476/year ($913/week). Federal law defines overtime as hours worked beyond 40 hours per week and employees must perform "executive, administrative, or professional" duties to have exempt status.
The free webinar has been scheduled to help nonprofit organizations better understand the regulation, various definitions and other aspects of the law unique to the nonprofit sector. DOL has also published Guidance for Nonprofit Organizations on Paying Overtime under the Fair Labor Standards Act.
Providers’ Council members are currently in the process of determining the financial impact of the regulation, which one member has estimated could be as much as $2 million per year. The Council is in the process of collecting data on the impact to the sector and working to schedule training opportunities for human service providers on implementing the rule. Information will be posted on www.providers.org as it becomes available.