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New DOL Overtime Rule Changes
After months of speculation, on May 18, the US Department of Labor released its much-anticipated final rule
that raises the white collar overtime exemption threshold under the Fair Labor Standards Act (FLSA). The new regulations take effect on December 1, 2016. The revised overtime pay regulations, which are estimated to affect at least 4.2 million American workers, will increase the salary threshold for the overtime exemption from $455 a week ($23,600 annually) to $913 a week ($47,476 annually). As a result of this regulation, businesses will need to start tracking hours for exempt salaried employees who are at or below the $47,476 threshold.