Final overtime regs...when?



The final overtime regulations are
expected to be released within the next few months. There is no word on exactly
when they will be released, but experts say they will most likely be released
near the end of 2015 or beginning of 2016. At that point, there will be a
period of time (at least a couple of months) before the regulations will be
effective.
The proposed changes released by the DOL would increase the salary level for exemption from overtime
to $921 per week, from the
current salary threshold of $455 per week. On an annual basis, this would
increase the annual salary level required for exemption to $47,892, from the
current requirement of $23,660.
The DOL proposes to set the standard salary level at the 40th percentile of
weekly earnings for full-time salaried workers. This would raise the salary
threshold to about $970 a week ($50,440 a year) in 2016.
The DOL also proposes to automatically update the standard salary and
compensation levels annually either by maintaining the levels at a fixed
percentile of earnings or by updating the amounts based on changes in the
CPI-U.
The DOL did not propose altering
the duties tests for exemption, although it is possible the duties tests could
be amended with the release of the final regulations.






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