The U.S. Department of Labor (DOL) issued its long awaited revisions to the Fair Labor Standard Act’s overtime pay regulations. Specifically, the final rule increases the salary threshold for standard overtime eligibility to $47,476 — instead of the $50,440 figure originally proposed.
Also note: The DOL’s final rule will automatically increase the salary threshold every three years, beginning Jan. 1, 2020. Each update will raise the standard threshold to the 40th percentile of full-time salaried workers in the lowest-wage Census region, estimated to be $51,168 in 2020.
Contracting Profits covered this topic in detail in its November/December cover story. Make sure to check it out.
ISSA has issued a statement expressing “deep disappointment that the DOL largely ignored the concerns of tens of thousands of individuals and organizations across this country that expressed concern with the proposal.”
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