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The NEW 2024 DOL FINAL RULE ON OVERTIME: How to Properly Calculate Overtime Due to Your Workers

Monday,
December 9, 2024
Time:
12:00 PM PST | 03:00 PM EST
Duration:
90 Minutes
Webinar Id:
709516
Register Now

Live Version

$145. One Participant
$295. Group Attendees

Recorded Version

$195. One Participant
$395 Group Attendees

Combo Offers

Live + Recorded
$289 $340   One Participant

Live + Recorded
$599 $690   Group Attendees

Group Attendees: Any number of participants

Recorded Version: Unlimited viewing for 6 months ( Access information will be emailed 24 hours after the completion of live webinar)

Overview:

Although the rules on exempt vs non-exempt employees has changed a few times in the past 10 years, overtime worked is, and has always been, overtime earned. THERE ARE NO EXCEPTIONS.

But 1.5 time a workers hourly rate of pay is just the start of calculating overtime earned. This course is designed as a refresher on what hours and payments are considered in calculating overtime pay.

Why should you Attend: THE DOL issued it's new final rule on exempt workers. The Rule increases salary thresholds for all employees who can be considered exempt from overtime. Learn exactly what the new amounts are and other information from the rule.

If your employee works more than 40 hrs in a workweek (or over 8 hrs in a day in some states) - they have earned overtime of at least 1.5 times their hourly rate of pay (HRP). Do you know all types of payments that carry an overtime premium? If not, Join Mark Schwartz in this informative webinar designed for the seasoned payroll professional to properly analyze compliance with overtime regulation, and help their CFO properly budget payroll expenses.

You will also find the answers to the following questions, and more:
  • What hours worked qualify for paid wages, and which don't. Which qualify for overtime premiums, and which don't
  • What fringe benefits and supplemental payments should be counted toward the hourly rate of pay?
  • Are there any restrictions on setting work weeks?
  • How do you account for shift differentials, when an employee's workweek changes, etc?
  • Do payments made after a regular pay day need to be applied to weeks wherein overtime was worked?
  • What states have overtime rules that are different than the minimums set by the Fair Labor Standards Act

Areas Covered in the Session:
  • The basics of overtime as established in the FLSA, including:
    • An overview of exempt vs non-exempt workers
    • Definitions of overtime hours, workweek and more
    • Employers NOT covered by the FLSA
  • State definitions for hours worked, exempt employees, and more
  • Work time that is included or excluded from hours that count toward overtime, including:
    • Breaks
    • Time away from the office
    • Travel
    • Pre and Post shift work
    • Training
  • What qualifies as a work week, and what doesn't
  • How to calculate overtime due with shift differentials work week changes
  • What payments count toward the "regular rate of pay"
  • How to calculate regular rate of pay in unusual circumstances
  • How to take into account pay that happens outside the normal payday for weeks worked overtime

And much more, Including numerical examples.

Who Will Benefit:
  • Budgeting Personnel
  • Payroll Personnel and Management
  • HR Managers
  • Department Managers and Budget Personnel
  • Timekeepers
  • Financial Dept Personnel
Instructor:

Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of 20 ongoing audits, from small home-based businesses to large multi-national corporations. He is expert at defining regulatory and statutory requirements from local, State and Federal government agencies; and helping the average businessperson understand what that means to their business. He has processed weekly and bi-weekly payroll checks plus tax forms for businesses with hourly as well as exempt workers, multistate operations and a wide variety of benefits.

Mr.Schwartz provides consulting services encompassing payroll processing and payroll tax issues. These include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, benefits, etc. Mark has represented both clients and the State in front of the State Appeals Board. He understands the complexities of local wage laws, unemployment and disability claims, and other wage and benefit issues affecting your employees.

Mark prides himself on his outstanding customer service skills. He listens attentively to his clientele, helping them bridge the gap between the small business world and Government bureaucracy. He eagerly assists with clients needs and feels that educating clients toward faster, accurate and more complete payroll processes provide the most value.

Mark is a participating member of the American Payroll Association. He earned his BA and MBA in Finance at Santa Clara University. He has held Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials. Mark is currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association.


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