Yesterday, the US Department of Labor sent its overtime rule to the White House Office of Management and Budget (OMB). This occurred much sooner than anticipated.
The result: because OMB review typically takes four to six weeks, the final rule will be the law of the land as early as next month.
The effect: the new regulations will abolish the overtime exemption for all currently salaried employees that make less than $50,000 per year. When enacted, the regulations will greatly reduce businesses’ ability to claim executive, administrative, professional, outside sales, and computer exemptions under the Fair Labor Standards Act (FLSA). The regulations will affect millions of workers and their employers.
Here is a more in-depth article on the topic.
For further information on this or other employment law topics, contact Art Bourque at Bourque Law Firm.