On Wednesday, May 18 President Obama announced the Department of Labor's updated overtime regulations "Final Rule" under the Fair Labor Standards Act (FLSA). The rule will increase the minimum salary threshold to qualify as an exempt employee to $47,476 annually which is more than double the current minimum of $23,660. The Secretary of Labor, Thomas Perez, estimates that almost 5 million workers will become overtime eligible under the Final Rule and will increase employees' wages by 1.3 billion nationwide.
The Final Rule will go into effect on December 1, 2016.
Final Rule PDF ***Although the Office of Management and Budget (OMB) has reviewed and approved the Final Rule, the document has not yet been published in the Federal Register. The Final Rule that appears in the Federal Register may contain minor formatting differences in accordance with Office of the Federal Register publication requirements. The OMB-approved version is being provided as a convenience to the public and this website will be updated with the Federal Register's published version when it becomes available.
Department of Labor Overtime Fact Sheet
Department of Labor Overtime Q&A
Department of Labor Guidance for Businesses
Department of Labor Final Rule Overtime Resources