Legal Corner – January 2020

Welcome to the Trüpp Legal Corner designed to keep business leaders informed of critical employment legislation and case law.

DOL exempt salary minimum has been increased to $35,568

The U.S. DOL has released its final rule amending the overtime provisions of the FLSA. The latest final rule went into effect on January 1st, 2020 and raised the salary threshold.

DOL regular rate updated

The US Department of Labor (DOL) has published a final rule updating and clarifying regulations on which forms of compensation must be included in the regular rate of pay and which types may be excluded when calculating overtime pay under the Fair Labor Standards Act (FLSA).  This new ruling went into effect on January 15, 2020.

Final rule released to revise and update regulations about joint employer status under FLSA

The Department of Labor has announced a final rule to revise and update interpretation of its joint employer status regulations under the Fair Labor Standards Act (FLSA). The effective date of the final rule is March 16, 2020.

SECURE Act increases retirement security benefits

Effective January 1^st, the president signed the SECURE Act (Setting Every Community Up for Retirement Enhancement). Some Key takeaways are:

• Repeals maximum age for traditional IRA contributions
• Increases minimum distribution age
• Allows long-term, part-time workers to participate in 401(k) plans
• Offers more options for lifetime income strategies
• Permits parents to withdraw up to specified amounts after a birth/adoption or for student loans