Feds Issue Final Rule on Overtime Pay

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The Department of Labor announced that it has further modified its Final Rule for requiring employers to gauge whether or not a worker meets the stipulations of overtime pay.

Effective Dec. 1, 2016, the new mandate increases the salary threshold of eligibility of overtime pay from $455 per week to $913 per week. This equates to $47,476 per year.

According to the Department of Labor, the alteration also specifies that the salary threshold automatically updates every three years, based on wage growth.