Ministry Insurance Update

Is your ministry prepared to undertake new overtime rules that will be set into place on December 1, 2016?  If you are fined because of non-compliance, your business insurance will not provide coverage.  Business insurance policies are not designed to cover government fines.

The US Department of Labor (DOL) released the final rule that raises the white-collar overtime exemption threshold under the Fair Labor Standards Act (FLSA).  The new regulations take effect on Dec. 1, 2016. Your business will need to start tracking hours for exempt salaried employees who make under $47,476.

Ministries that will be most affected will be those in the hospitality industry, nonprofits, retail, manufacturing and any agribusiness.

Options for employers

• Pay these employees time and a half for overtime.
• Increase workers’ compensation above the minimum.
• Limit work hours to 40 per week.

Fact sheets and other materials to help employers and workers understand how the rule will affect them and the broader economy are available dol.gov/overtime.

Here is a link to the Department of Labor’s web page. Click here

This entry was posted on March 19, 2017 at 2:33 pm. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Posted in Church Risk by Scott Stuart Comments Off on Is Your Ministry Ready For The New DOL Overtime Rules?