It’s OT compliance time:
DOL unveils new proposed overtime rules!
After two years of speculation, false starts and hand-wringing, the U.S. Department of Labor finally published its much-anticipated overhaul of the nation’s overtime rules. Released last night, these proposed rules are meant to replace the Obama-era rules that never went into effect.
The big news: The DOL wants to raise the minimum overtime salary threshold by 50% from the current $23,660. That means exempt administrative, executive and professional employees will be eligible for overtime pay as long as they don’t earn more than $35,308 per year ($679 per week).
White-collar employees who earn that amount or less will be eligible for overtime pay when they work more than 40 hours in a workweek.
The new threshold is slated to go into effect Jan. 1, 2020.
The change will likely mean that at least one million additional white-collar employees will suddenly qualify for overtime pay. The changes don’t require congressional approval. More Details to Come……..