The U.S. Department of Labor’s (DOL) Wage and Hour Division delivered its proposed final revisions to the Fair Labor Standards Act’s (FLSA’s) Part 541 overtime regulations to the Office of Information and Regulatory Affairs (OIRA) of the Office of Management and Budget (OMB) two months ago. Reports have now emerged that the final overtime rule will be released to the public on Wednesday, May 18, 2016.
The most significant change we anticipate in the regulations is that the minimum salary threshold for the FLSA’s executive, administrative, and professional exemptions will dramatically increase to a number that could be more than double the current minimum of $23,660 per year. We will update the Ogletree Deakins Wage and Hour blog once the details are made public.
POLITICO reports that U.S. Secretary of Labor Thomas E. Perez will announce the final rule at an event in Columbus, Ohio, with Vice President Joe Biden and Sen. Sherrod Brown.
In anticipation of the final rule, Ogletree Deakins’ Wage and Hour Practice Group has launched the Overtime Solutions Center, an up-to-the-minute educational resource containing breaking news and information as they occur. In addition to our Overtime Solutions Center, the firm’s Wage and Hour blog is frequently updated with significant new developments in the law. Stay tuned.
In addition, Ogletree Deakins has scheduled a webinar, “The Final Overtime Regulations: What The New Minimum Salary Requirements Mean for Employers,” for Friday, May 20, 2016 at 11:00 a.m. Pacific and 2:00 Eastern. Join our speakers, Alfred B. Robinson, Jr. (Washington, D.C.) and Charles E. McDonald, III (Greenville), as they discuss the long-awaited final revisions of the Part 541 overtime regulations and how the new minimum salary requirements will impact your business.