From Taylor Libby:
You all may have heard in the news this past week that the U.S. Department of Labor has released new regulations for overtime compensation. Effective December 1, 2016, the new minimum salary threshold for employees to qualify for overtime exemption is $47,476 annually (an increase from the current threshold of $23,660). Going forward, this salary threshold will be reviewed/adjusted every three years. This change means that in order for any position to be salaried (exempt), the position must earn an annual salary of at least $47,476. As a result, a number of positions at the School that are currently exempt but whose salary falls below the new threshold (most notably a number of our Postdoctoral Scholars) will become hourly/non-exempt effective December 1.
Doctors, lawyers, teachers, graduate assistants, and resident advisors are exempt from the salary threshold requirement.
We are working with the Office of Human Resources to determine next steps. This change will have significant impacts on our systems (ConnectCarolina, TIM, etc.) and will also require additional financial planning in terms of budgeting for potential overtime liability. We will be working closely with employees and supervisors of positions impacted by the change and will advise on planning for new positions/hires as appropriate. We hope to have a lunch and learn for positions/supervisors affected by the change to discuss the impact next month.
In the meantime, if you have any questions, please let me know.
Thanks,
Taylor