FINAL DOL Overtime Rule – Coming Soon, So Prepare Now!

The Department of Labor (DOL) is expected to soon release the final version of its overtime rule, for which it had issued a notice of proposed rulemaking in March. The rule would in part dictate a new salary threshold for overtime pay of full-time salaried white collar workers. The current salary threshold before an exemption kicks in is $23,600. The Wall Street Journal shared that the release could be as soon as this month. In February, ANCOR met with the teams at the White House and DOL responsible for the final review of the regulation to share our insights on this issue. We have long been following this issue and encourages our members to prepare for implementation now to be able to implement changes smoothly. To assist members with this preparation, we share suggestions from SHRM’s suggestions that employers:

• Evaluate potentially covered workers;
• Review job descriptions; and
• Develop a training and communications strategy.

SHRM further elaborates on these points online. ANCOR will let members know when final rule is issued.