Skip to content

FLSA Overtime Rule Change

June 10, 2016

On May 18, 2016 the Department of Labor (DOL) released a new rule overhauling overtime wage payment in the United States. Under the new rule, the salary threshold will increase from $23,660 to $47,476 per year. It also increases the salary threshold for highly compensated individuals from $100,000 to $134,004 per year.

This new rule could affect more than 4 million American workers. According to estimates from the DOL, employers will spend more than $592 million to comply with the new rule. Employers who fail to implement overtime changes could face lawsuits, criminal charges, fines and restrictions in commerce.

WHEN MUST I COMPLY TO THIS RULE CHANGE?

Employers have until December 1, 2016 to comply, however, delaying preparation efforts could result in costly penalties. For more information on the new overtime rule, contact us today.

Advertisements
No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: