DOL Set to Release New Overtime Rules
Under current regulations, employees are generally considered exempt from overtime if they meet each of the following criteria: They’re paid a predetermined and fixed salary; they earn $23,660 or more; and they have a job that primarily involves executive, administrative or professional duties. fact sheet
Under the proposed rules, the exemption threshold would be more than doubled, jumping from $23,660 a year to $50,440 a year. In addition, the salary requirement for determining who counts as a “highly-compensated employee,” a category that is also exempt from overtime rules, would be increased from $100,000 a year to $122,148. Both thresholds would be automatically adjusted every year, either by a fixed amount yet to be determined, or alongside the consumer price index.