New overtime rules affecting millions of American workers are slated to take effect later this year.
The Department of Labor doubled the salary threshold for employees to qualify as exempt (not entitled to overtime) from $23,000 to more than $47,000 a year. Employees covered by the Fair Labor Standards Act (FLSA) will be entitled to overtime pay. All employers must comply by December 1, 2016.
The Department of Labor just published revisions to the overtime exemption regulations that are expected to cause more than 4 million workers to lose their exempt status. Department of Labor is more than doubling the minimum weekly salary level for employees to be exempt from FLSA overtime under the “White Collar” exemptions.
As 2016 approaches, it is time to make sure you are in compliance with current state and federal labor law posting regulations! For the New Year, the federal government has announced an increase in the budget allocated for the Department of Labor. As part of this, millions of dollars will be put toward supporting efforts for employment laws and for securing safe and healthy workplaces.