It’s official. On May 18, 2016, the Department of Labor finalized a rule to update overtime protections. The final rule, which takes effect on December 1, 2016, doubles the salary threshold—from $23,660 to $47,476 per year—under which most salaried workers are guaranteed overtime (hourly workers are generally guaranteed overtime pay regardless of their earnings level). Additionally, this new level will be automatically updated every three years to ensure that workers continue to earn the pay they deserve.
According to the White House fact sheet, the new rule will:
The Department of Labor will also release three technical guidance documents, designed to help private employers, non-profit employers, and institutions of higher education come into compliance with the new rule.
Read more at whitehouse.gov.
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