On May 18, 2016, changes to the Fair Labor Standards Act (FLSA) increase the salary an employee must earn to qualify to be exempt. Employees that are currently not eligible for overtime but make less than $47,475 per year will be eligible for overtime pay beginning December 1, 2016.
Exempt employees are not eligible for overtime. In order for an employee to be exempt, they must meet all three of the following criteria:
Salary Basis Test: Employee is paid a predetermined and fixed salary that is not subject to reduction due to variations in the quality or quantity of work.
Salary Level Test: Employee’s salary must meet a minimum specified amount to qualify for the exemption. This salary threshold provides employers with an objective and efficient way to determine whether an employee qualifies for a white collar exemption.
Duties Test: Employee’s job duties must primarily involve executive, administrative, or professional duties, as defined by law.
The new FLSA regulations modify the Salary Level Test to mean no less than $47,475 per year. An employer may include ten percent of non-discretionary incentive bonuses tied to productivity and profitability. The bonus must be paid at least quarterly in order to be factored into the Salary Level Test.
Because an employee must meet all three criteria to be exempt, an employee that makes less than $47,475 per year as of December 1, 2016 will no longer be exempt.
What should employers do now? Employers shoul
Workers’ Compensation Program – 2016 Overview and Update
The Wisconsin Workers Compensation -- 2016 Overview and Update Employment Law Summary further outlines the changes made to the Wisconsin Workers' Compensation system that became effective on March 2, 2016.
Employee Leave Administration Essentials
We help our clients avoid risk. Not only do we secure the appropriate insurance to cover losses, we also work proactively to prevent bad things from happening in the first place. Our Insight Series is designed to provide business owners and HR professionals with the information they need to improve upon their business practices. Attend our Vizance Insight Series to gain information that will help you avoid litigation or surprises during an audit.
Join us on May 5th to learn if your leave administration policy complies with FMLA, workers compensation, and the Americans with Disability Act (ADA). Managing employee absences well can save your organization money and avoid litigation.
Join us to learn:
What is required by FMLA, workers compensation, and the Americans with Disabilities Act
How your organization can establish consistent practices that are compliant, fair, and keep your organization out of trouble
What organizations that are not governed by FMLA can do to manage employee absences
Thursday, May 5th
8:30 am – 10:00 am
MRA – The Management Association
N19 W 24400 Riverwood Drive
Waukesha, WI 53188
Attendance is complimentary to clients and friends of Vizance, Inc
Space is limited.Please RSVP by sending an email to email@example.com.
For more information, click here.
Changes to Wisconsin’s Worker’s Compensation System
Amendments to the Wisconsin Worker’s Compensation Act were signed by Governor Walker on February 29, 2016 and went into effect on March 2. Several aspects of this bill represent significant changes. The Plain Language Summary Act 180 explains more, but some of the notable changes, and their place in the summary, include:
#4. PPD Rate
The maximum weekly permanent partial disability (PPD) rate will increase to $342 for injuries occurring throughout the rest of 2016. The rate increases to $362 for injuries occurring on or after January 1, 2017.
#8. Statute of Limitations
The statute of limitations for traumatic injuries will be reduced from 12 years to 6 years (the statute of limitations for occupational injuries did not change).
#9. Permanent Disability Apportionment
Apportionment of permanent disability resulting from accidental injuries will be based on their causes. Practitioners will determine the percentage of permanent disability caused by the direct result of the work-related injury and the percentage attributable to other factors before and after the injury. An employee who claims a work-related injury is required to disclose all previous permanent disabilities or physical impairments and the records needed to make an apportionment determination.
#20. Discharge or Suspension for Misconduct or Substantial Fault
Temporary disability benefits can be denied if an employee is brought back to work on light duty and is then fired due to misconduct or substantial faul
Vizance Associate Joe Dundon Receives Rising Star Award from NAIOP
Congratulations to Joe Dundon, who was recently awarded the 2015 Rising Star Award for his involvement with NAIOP, a Commercial Real Estate Development Association, and two of its committees. Joe's extensive involvement with the Education & Programs Committee and the Developing Leader Committee was recognized by the leadership of NAIOP.
Another Successful Food Drive
The 7th annual Vizance Food Drive has come to a close. Vizance’s associates, along with our clients and company partners, gathered a total of 18,650 food items and $4,360 in cash donations. Thank you to everyone who helped us stock the shelves of our community food pantries. We could not have reached the level of success we did without the teamwork, compassionate hearts and generous donations of our contributors.
Vizance Named to the Milwaukee Business Journal’s “Best Places to Work” List
The Milwaukee Business Journal recently released their "Best Places to Work" winners list, and Vizance is honored to be among the winners.
According to the Milwaukee Business Journal, "Nearly 100 Milwaukee-area firms were nominated for the awards and the winners were determined based on scores from a survey that employees filled out. Each company that was nominated was ranked according to the 10 core areas of engagement: teamwork, retention, alignment with goals, trust with co-workers, individual contribution, manager effectiveness, trust in senior leaders, feeling valued, job satisfaction and benefits."
Additional information, including rankings, will be published in early December.
What Does the PACE Act Mean to Me?
We’ve become so accustomed to delays or changes surrounding implementation of the Affordable Care Act (ACA), it would not surprise us if the passage of the PACE Act went unnoticed. Of course you received several emails telling you that President Obama signed the Protecting Affordable Coverage for Employees Act (PACE), but what does it really mean to you?
If you are an employer with approximately 50 to 99 full-time employees (including full-time equivalents), the PACE Act is probably good news for you.
Prior to the ACA, most states defined small employers as those with less than 50 employees. In the group health insurance market, small employers were subject to different rules, including how their policies were underwritten. The ACA intended to redefine “small employer” to mean all employers with less than 100 employees. Beginning January 2016, employers with 50 to 100 employees would for the first time be considered a “small employer” and subject to the ACA’s rules governing small employers.
Application of the ACA’s rules governing small employers to employers with 50 to 100 employees would have imposed strict community rating rules that would likely result in substantial premium increases and would require coverage for “essential health benefits” which may also contribute to higher premiums.
Because the PACE Act was passed, employers with 50 to 100 employees can breathe a sigh of relief.
What remains the same:
Employers with less than 50
7th Annual Food Drive Begins
The 7th Annual Food Drive has officially started! New this year is an additional push to support the Milwaukee Rescue Mission through social media. Each additional Page "Like" on the Vizance Facebook page will result in an increased donation to the Milwaukee Rescue Mission.
We are accepting food donations of all kinds, at both Vizance locations, from now until November 23rd. Thank you for your support!
Kristopher Sharpe joins Vizance as Financial Services Account Executive
Kristopher Sharpe has recently joined Vizance as an Account Executive. Prior to joining Vizance, Kristopher managed the insurance operations for Bronfman E. L. Rothschild (formerly Lake Country Wealth Management) for the past five years and has extensive experience in the design of personal and corporate insurance strategies. He holds his FINRA Series 7, FINRA Series 66 and WI Life, Accident, and Health Insurance licenses. Kristopher will be a resource for addressing life, long-term disability, and long-term care insurance needs. He views helping clients manage some of their risks through insurance planning as a significant part of the overall planning process and is eager to share his knowledge and resources.