New Overtime Regulations Increase Companies' Need for Accurate Time Records
RALEIGH, N.C., May 20, 2016 /PRNewswire/ -- On May 18, 2016, the US Department of Labor (DOL) released the long-awaited updates to regulations defining overtime exemptions for executive, administrative, and professional employees. The new rules, scheduled to take effect December 1, 2016, mean over 4 million additional workers may become eligible for overtime pay, increasing businesses' need for accurate time tracking technology.
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Acroprint Time Recorder Company is ready to assist organizations that need to improve their time tracking capabilities in the wake of these new regulations.
Under the current rules, most salaried employees who earn less than the threshold of $470 per week ($23,660 per year) are eligible for overtime. If salaried employees make more than the threshold, a "duties test" is used to determine their overtime eligibility. If the job duties qualify the worker as exempt, the employer does not have to pay overtime. If the job responsibilities do not pass the "duties test," workers are due overtime at the rate of one and a half times their regular rate of pay.
Under the updated rules, the salary threshold will be raised effective Dec. 1, 2016, to $913 per week ($47,476 per year). The DOL estimates approximately 4.2 million workers, currently classified as exempt, will potentially become eligible for overtime because of this increased salary threshold.
The Fair Labor Standards Act requires employers to record and maintain accurate time records for all overtime-eligible employees. These revised overtime rules mean employers who previously did not track time — or only tracked time informally — may now be required to maintain more rigorous and accurate records to ensure they're complying with the law and calculating their workers' overtime correctly.
With over 47 years' experience in the time and attendance industry, Acroprint Time Recorder Company is poised to assist these businesses — and any organization that needs to track time accurately and efficiently. With a full line of time recording solutions spanning mechanical and electronic punch clocks, software and cloud-based solutions, Acroprint can supply time tracking solutions for virtually any type of business in any work environment. Acroprint time tracking solutions meet or exceed the requirements of the Fair Labor Standards Act.
To see the complete selection of time recording options available, employers are invited to visit http://www.acroprintstore.com/ or call 800.334.7190 to speak to a Customer Care representative.
About Acroprint Time Recorder Company
Acroprint Time Recorder Company is a leading global manufacturer and distributor of workforce management solutions with more than 1,000 dealers/distributors across the United States and products that are exported to 80 foreign countries. Acroprint products are used daily by millions of employees around the globe to record their time and attendance. A family-owned company headquartered in Raleigh, NC, Acroprint has been helping businesses track time and manage their labor costs since 1969. For more information, visit our website at http://www.acroprint.com/.
Contact:
Diane Aull, Website Manager
Acroprint Time Recorder Company
Telephone: 1-800-334-7190, ext. 201
Email
URL: www.acroprint.com
SOURCE Acroprint Time Recorder Company
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