Under the Department of Labor’s updated overtime rules, employers may need to pay their workers quite a bit more in salary or plan to pay overtime when the rule becomes effective.
Currently, employees in certain work categories who are paid a salary and make over $23,660 per year ($455 per week) are considered “exempt.” This means they are exempt from overtime requirements. They are paid a set salary which is not tied to the hours they work, and they don’t get paid more if they work more than 40 hours in a standard work week. Click here to read the full article.