May 20, 2016
President Obama, declaring that “Americans have spent too long working more and getting less in return,” ordered the Labor Department to revise federal rules on overtime pay for salaried workers that log more than 40 hours a week. The long-awaited rule change will extend overtime pay to an estimated 4.2M workers.
Under current federal regulations, only salaried employees who make no more than $455 a week, or $23,660 a year, are guaranteed to receive overtime after working more than 40 hours a week. The new rules would raise that threshold to $913 a week, or $47,476 a year, giving salaried workers who are higher up the income scale the ability to work less or earn more for long hours.
The ruling also establishes a mechanism for automatically updating the salary and compensation levels every three years.
You can find detailed information on this new ruling on the United States Department of Labor website: https://www.dol.gov/whd/overtime/final2016/index.htm
Please feel free to contact our office if you have questions.
Of the many things America does well, taking vacation time isn’t always one of them.
People do lots of things during the summer—take vacations, grill in the backyard, attend ball games and go to the beach, among other pursuits.
Ahh, summer. Those long, lovely, lazy days are almost here—and for many of us, that means one thing: Lots and lots of beach or backyard reading.