In a blog post today, Labor Secretary Tom Perez announced that the DOL had finished drafting updates to Federal overtime regulations.
We’ve worked diligently over the last year to develop a proposed rule that answers the president’s directive and captures input from a diverse range of stakeholders. After extensive research, study and careful analysis, we have submitted the proposed rule to the Office of Management and Budget for review. In the near future, the public will have an opportunity to weigh in and help us craft a final rule.
The proposed regulations have not yet been released, but they are widely expected to include changes to the minimum salary employers must pay to workers properly classified as “exempt” from overtime pay. Currently, Federal law requires eligible employees earn a minimum salary of $455 per week, or $23,660 per year in order to qualify as “exempt” from Federal overtime pay.
