Four Ways to Prepare for DOL’s New Overtime Rule
June 3, 2016 | Aging Services Risk Management
The salary threshold for an employee eligible for overtime will more than double on December 1, 2016, as the result of the overtime rule finalized by the U.S. Department of Labor (DOL) on May 18, 2016. Under the new rule, employees making $913 per week ($47,476 per year) will be required to receive overtime pay if they work more than 40 hours in a week. The previous threshold was $455 per week ($23,660 per year). The rule should extend overtime protection to 4.2 million employees in the United States and boost wages by $12 billion over the next 10 years, DOL said.