Department of Labor Overtime Ruling Impact
Major changes are coming for employers and the Alliance wants to make certain that our regional business community is informed. Our recent Business@Breakfast featured subject matter experts regarding the recent Department of Labor ruling. We hosted labor law experts on the new Department of Labor Overtime Ruling which goes into effect on December 1st.
In May, President Obama’s administration finalized recommendations that designate salaried workers earning less than $47,476 per year ($913 weekly) as eligible for overtime if they work more than 40 hours a week. The administration doubled the threshold from $23,660 ($455 weekly), making more people eligible for overtime in order to “make work pay.” The theory behind the overtime law is to nudge employers to hire more hourly workers as opposed to paying overtime which will reduce unemployment.
United States Department of Labor Fact Sheet Information view here
Society for Human Resource Management (SHRM) overview here
Gentry Locke Attorneys Paul Klockenbrink and Catherine Huff overview here