Invite - SBA Advocacy Roundtable Roundtable to Discuss DOL’s Proposed Rule to Increase the Overtime Exemption to $35K

- South Florida District Office  -

u s small business administration
Roundtable

 

SBA Advocacy DOL's Overtime
 Regulations Roundtable

WHEN: Thursday April 4, 2019 2:00 pm-4:00 pm (EDT)
WHERE: Florida SBDC at the University of South Florida Port Tampa Bay Building 1101 Channelside Dr., Suite 210 Tampa, FL 33602-3613

The U.S. Small Business Administration, Office of Advocacy will be hosting this roundtable to discuss DOL’s new Overtime Regulations under the Fair Labor Standards Act, which increases the minimum salary for the "white collar" overtime exemption from $23,660 annually to $35,308 annually. This means that workers making under $35,308 annually would be eligible for overtime pay. The purpose of the roundtable will be to hear directly from small businesses about the impact of the proposed rule. Comments on the rule are due mid-May 2019. For more information, please visit: https://www.dol.gov/whd/overtime_pay.htm.

Interested parties must RSVP to Janis.Reyes@sba.gov.

Agenda

1:30 p.m.-- 2:00 p.m. Registration and Networking

2:00 p.m.-- 2:05 p.m. Introductory Remarks

Charles Maresca, U.S. Small Business Administration, Office of Advocacy

2:05 p.m.-- 2:10 p.m. Who is the Office of Advocacy and What We Do?

Charles Maresca, U.S. Small Business Administration, Office of Advocacy

2:10 p.m.-- 2:20 p.m. Overview of the Overtime Proposed Rule Janis Reyes, U.S. Small Business Administration Office of Advocacy

2:20 p.m.– 4:00 p.m. Input from Interested Small Entity Stakeholders

*Agency staff from the Department of Labor have been invited to this event however their attendance has not been confirmed. Comments expressed during this roundtable do not take the place of submitting written comments to the regulatory docket.

Roundtable meetings are open to all interested persons, with the exception of the press, in order to facilitate open and frank discussion about the impacts of Federal regulatory activities on small entities. Agendas and presentations are available to all, including the press. Anyone who wants to receive roundtable agendas or presentations, or to be included in the distribution list, should forward such requests to Janis.Reyes@sba.gov. The purpose of these Roundtable meetings is to exchange opinions, facts and information and to obtain the attendees’ individual views and opinions regarding small business concerns. The meetings are not intended to achieve or communicate any consensus positions of the attendees.

Request for Comments on DOL’s Overtime Regulation

  • In March 2019, DOL proposed a rule that which increases the minimum salary for the "white collar" overtime exemption from $23,660 annually to $35,308 annually. This means that workers making under $35,308 annually would be eligible for overtime pay.
  • Workers for whom the exemption is claimed must also meet certain job duties for executive, administrative and professional employees.
  • In 2016, DOL finalized a rule that changed this minimum salary to $47,476. This rule was enjoined by a federal court and never became effective. Small businesses told Advocacy that the minimum salary level of $47,476 set in the 2016 was too high, and disproportionately affected certain low wage regions and industries.
  • This proposed rule also allows employers to use nondiscretionary bonuses and incentive payments (including commissions) that are paid annually or more frequently to satisfy up to 10 percent of the standard’s salary level.
  • DOL will propose updates to the salary thresholds every four years, with a notice-and-comment rulemaking period.
  • Advocacy is seeking feedback on the economic impact of this rule on your small business, and if you can recommend any regulatory options that may minimize the cost of this rule.
  • Comments on this rule are due mid-May 2019. Small businesses can comment on Regulations.gov. For more information, please visit: https://www.dol.gov/whd/overtime_pay.htm.

Date: 03/22/2019; Author Information: Heather Hines, Public Affairs Specialist