Love Me Some Bomma

[Ron Burgundy]

New Department of Labor overtime regulations taking effect on Dec. 1, 2016

https://www.dol.gov/whd/overtime/final2016/
http://www.accountingweb.com/practice/clients/new-dol-overtime-rule-changes-8-key-questions

The DOL has raised the wage floor for exempt salaried employees (I never knew there was one) to $47,476. This means if you are some poor overworked middle management sap or funeral director intern, your employer can no longer make you work 60 hours a week while paying you peanuts.
If you're one of the estimated 4 million people caught in that range, your employer can do four things:
1. Raise your salary to $47,476 or $913 a week.
2. Keep your salary the same and pay you overtime for anything over 40 hours a week.
3. Change you to hourly and pay you overtime for anything over 40 hours a week.
4. Limit you to 40 hours per week.
5. Lay you off.

Retail chains, fast food chains, and funeral home owners everywhere are ******** bricks right now.
I figure this could work out for me in the end because a whole lot of funeral home owners aren't going to hire interns any more if they can only work 40 hours a week, since we are regarded as low-cost slave labor, thus leading to a shortage of funeral directors. Of course it's equally possible that I will not find a full-time job since they will have to pay me at least $47,476 and instead be on-call for a couple different places and work as needed.
I'm guessing that starting in December I'll be getting weekends off. It would be cheaper for them to have one of the part-timers work the door instead of paying me time and a half. Currently it's cheaper to have Burgundy do as much as possible for the $500 a week he gets paid.

 

[hamster]

In the near future, we will all be part time employees..........except.........gov't workers.

 

[IndySteel]

He's by far the most incompetent president we've ever had. And we had Jimmy Carter. ISIS could not have hand picked a better president for their cause.

 

[Ron Burgundy]

In the near future, we will all be part time employees..........except.........gov't workers.

But Bomma is gonna see to it that we get paid more. Just like He said our health insurance cost would go down. Didn't it? Didn't it???

 

[DBS1970]

The markets will always correct.

 

[Superman]

So I get a raise?

 

[Ron Burgundy]

So I get a raise?

Or laid off.

 

[DBS1970]

Or laid off.

Or maybe just your hours and salary cut.

 

[Yinzerlyn]

So how is that going to help anyone?

 

[Steelerfan]

#3 is how things are now. The other changes suck for employers though.

 

[Troglodyte]

The DOL has raised the wage floor for exempt salaried employees (I never knew there was one) to $47,476.

I don't think there would be any wage based employees if it didn't exist, everyone would be salaried.

This is great for any salaried employee who makes significantly less than $47k and kinda sucks for anyone who makes anywhere near that.

While it's flawed, at least politicians have finally attempted to do something for the non-unionized middle class.

 

[hook]

Thing is, how would they k ow? My assistant falls into that range but he is on salary and doesn't punch a time clock.

 

[Troglodyte]

Thing is, how would they k ow? My assistant falls into that range but he is on salary and doesn't punch a time clock.

How would they know if he did? He'd have access to documentation but it'd be up to him to prove it and then your company would be in legal trouble.

 

[Ron Burgundy]

Thing is, how would they k ow? My assistant falls into that range but he is on salary and doesn't punch a time clock.

He will now. (Or at least employers will be have to be able to have some method to track employees' time.)
Mrs. Burgundy makes almost $50k and her boss pays her hourly because she will actually make more money that way with a little overtime.

 

[SteelerInLebanon]

The idea here is not all bad but the number is too high. The floor was too low before and people were taken advantage of but the knee jerk reaction went too far the other way.