At 3 pm this afternoon, Vice President Joe Biden, Senator Sherrod Brown, and Secretary of Labor Tom Perez will appear at Jeni’s Ice Cream in Columbus, Ohio, to announce the Department of Labor’s new overtime rule.
The rule, as expected, increases the salary level at which one qualifies as an exempt white-collar employee ($913 per week; $47,476 annually), while leaving alone (for now) the duties one also must meet to qualify. It is expected that 4.2 million white-collar workers will now qualify for overtime.
The effective date of the final rule is December 1, 2016, giving employers more than six months to digest the new rules, reclassify workers, and comply with the new salary test.
In advance of today’s announcement,
late yesterday the DOL published the
Final Rule, along with some guidance for employers. It also published this handy chart, comparing the current regulations, last year’s proposed regulations, and the final regulations.