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In 2016, then-President Barack Obama asked the Labor Department to overhaul federal overtime rules and raise the salary threshold to $47,476 a year, or $913 a week. That would have roughly doubled ...
The analysis ranked occupations in which the typical, or median, worker earns within $10,000 of the threshold receiving overtime protection under the new rules. Wysa July rule benefits workers in ...
The current salary threshold of about $35,500 per year was set. The administration of U.S. President Joe Biden on Tuesday unveiled a rule extending mandatory overtime pay to an estimated 4 million ...
The new rule also expands overtime eligibility for some highly-compensated workers. According to a Labor Department FAQ , the current $107,432 annual threshold for highly-compensated workers is set to increase to $132,964 on July 1 and $151,164 by the start of 2025.
Trump had set the threshold at just $35,568 during his first term. Biden’s rule would push it to $58,656 next year, so that the threshold covers an estimated 4 million additional workers.
On May 18, 2016, the final version of the rule was published, [84] which would require that employees earning a salary of less than $913 per week would be paid overtime, effective December 1, 2016, [84] and the threshold would be automatically adjusted every three years, beginning January 1, 2020.
Now, under the new rules, if someone works over 40 hours per week, does the same certain type of administrative, managerial or professional work and earns a salary less than $47,476, he or she is now entitled to overtime pay under the new federal rules. The final overtime rule goes into effect on December 1, 2016. [16] When the Department of ...
The Walsh-Healey Act that applies to U.S. government contracts exceeding $15,000 for the manufacturing or furnishing of goods. Walsh-Healey establishes overtime pay for hours worked by contractor employees in excess of 40 hours per week, and sets the minimum wage equal to the prevailing wage as determined by the Secretary of Labor.