DOL releases final overtime rule

The DOL has released the final overtime rule that has been discussed as far back as the Obama Administration. As anticipated, the new rule includes multiple changes to current overtime laws, including increases to the minimum guaranteed salaries for most overtime exemptions, an increase to the minimum requirement for so-called “highly compensated” employees, and permitting a 1-time catch-up payment to meet that requirement (subject to certain limitations). The final rule will take effect January 1, 2020. Employers should begin preparing immediately and may wish to start by considering options and tips discussed in this prior post.

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