ST. PAUL, MINN. (Aug. 17, 2020) – GovDocs today announces a new release of GovDocs Minimum Wage, which includes the addition of indexed minimum wage rate and exempt salary information.
Indexed Minimum Wage Rates
GovDocs Minimum Wage now offers indexed minimum wage rate information to help clients stay on top of jurisdictions whose increases are based on the Consumer Price Index (CPI). Because indexed rates present a challenge for employers who can’t accurately plan for increases until the actual wage rate is known, the solution features indexed information in two places, providing more insight for budgeting and forecasting.
- Increase Schedules, which list the location, region type, effective date and new wage amount, note “Indexed” in the latter column for future indexed rates
- The Notifications page, the user’s central source for upcoming new and updated minimum wage rates, also lists “indexed” for applicable future rate changes. Once the indexed wage rate is known, it is added to the solution
Exempt Salary Thresholds
In addition, GovDocs Minimum Wage also introduces exempt salary information by jurisdiction in a new Resources section. With the recent federal exempt salary change – $684 per week and $35,568 per year, effective Jan. 1, 2020 – and a number of state and local jurisdictions with thresholds higher than the federal, this information allows employers to ensure they’re paying exempt employees the correct minimum salary.
“With all the feedback we’ve received from clients, we understand how essential indexed wage rates and exempt salary thresholds are to HR, compensation and payroll teams,” explained GovDocs CEO Zach Stabenow. “To provide this information within one solution saves them valuable time spent researching multiple resources.”
GovDocs Minimum Wage simplifies the process of managing minimum wage rates for large, multi-jurisdiction employers. It’s a core part of the GovDocs’ Employment Law Compliance Platform, integrating three solutions – which also includes the GovDocs Update Program, our labor law postings management subscription, and paid leave software, GovDocs Paid Leave – in one convenient place.
GovDocs simplifies employment law compliance for large, multi-jurisdiction employers in the U.S. and Canada. The GovDocs software platform integrates three solutions in one convenient place to help you master the employment laws impacting your business.
Whether you manage a postings, minimum wage or paid leave program, our products cut through research time, provide proactive insights into the everchanging landscape of employment laws and reduce the risk of noncompliance. The company is headquartered in St. Paul, Minn.