DOL Announces Final Overtime Rule

Last week, the Department of Labor (DOL) announced a final rule that raises the minimum salary threshold required to qualify for the Fair Labor Standards Act’s “white collar exemption” to $47,476 per year ($913 per week), substantially greater than the yearly salary of $23,660 ($455 per week) contained in current regulations. DOL expects the final rule to extend overtime protections to nearly 4.2 million.

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