A big change is coming to businesses and employees across the nation. On Wednesday May 18, the Labor Department issued new regulations that would double the threshold under which salaried workers must be paid overtime. The rule that takes effect December 1, raises the salary for employees that qualify for overtime from $23,660 to $47,476.
What does this mean for the 4.2 million workers the regulation is supposed to help? Employers are facing various options. 1. Pay the overtime to the newly qualified employees; 2. Transfer salaried employees to hourly pay and reduce hours; 3. Raise the salary of employees to exceed the threshold; among other options.
McNamara Law Firm can help businesses affected by the new regulations and determine the best course of action for compliance.
Call us today so that we can advise you of your rights and how you are affected by the new regulations.