DOL Sends New Overtime Rule to OMB for Final Review

The Department of Labor (DOL) on Monday forwarded its revised overtime rule to the Office of Management and Budget (OMB) for final review, setting the stage for publication by July.

The OMB has a 90-day window to review the final version of the rewrite of overtime rules that will make eligible some 5 million more workers to receive overtime pay, if the final rule is unchanged from its originally proposed version. That version  more than doubled the salary threshold for overtime exemption from $455 a week to $970, or $50,440 a year (currently $23,660).

Overtime rules were last revised in 2004 by the Bush administration, which set the current standards.

If you own or operate a small to medium-sized business, managing all your employees plus meeting federal labor laws and regulations can be daunting, especially with new rules being issued all the time. To help you understand your rights and responsibilities in every facet of running a business, please order a copy of Personnel Concepts’ All-On-One HR Compliance Program for Small Businesses.

NOTE: The details in this blog are provided for informational purposes only. All answers are general in nature and do not constitute legal advice. If legal advice or other expert assistance is required, the services of a competent professional should be sought. The author specifically disclaims any and all liability arising directly or indirectly from the reliance on or use of this blog.
You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

Leave a Reply

Your email address will not be published. Required fields are marked *

* Copy This Password *

* Type Or Paste Password Here *

Leave a Reply

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Comments (required)*