US News New rule expands overtime pay to millions of salaried workers

tom_mai78101

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CNNMoney — Starting later this year, millions more workers will become eligible for overtime pay.

Under a new rule announced by the White House Tuesday, anybody making a salary of less than $47,476 ($913 a week) will automatically qualify for overtime pay when they work more than 40 hours a week.

That’s roughly double the $23,660 threshold (or $455 a week) that’s currently in place.

The change — which has been criticized as too drastic by many employers — will go into effect on Dec. 1, 2016. They are intended to expand access to overtime pay for otherwise low-salaried workers who log long hours but have been treated as exempt from overtime because they perform some managerial duties.

Vice President Joe Biden characterized the changes as “restoring and expanding access to the middle class.”

The percent of salaried workers automatically eligible for overtime has fallen to 7% from 62% in 1975. Under the new threshold, 35% of salaried workers will become automatically eligible, according to Labor Secretary Thomas Perez.

The new threshold will be updated every three years to make sure it stays at the 40th percentile of full-time salaries in the lowest income region of the country. Based on wage growth projections, that means it could rise to $51,000 by 2020.

Read more here. (KHON2)
 

jonas

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Nice! I'm quite a bit over that number and I don't work overtime, but it sounds like a great change.

"which has been criticized as too drastic by many employers" - what, paying people for their work is drastic?
 

Accname

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The new threshold will be updated every three years to make sure it stays at the 40th percentile of full-time salaries in the lowest income region of the country.
Wait. Why? I dont get it. Why does it need to stay at 40%? That seems completely arbitrary.
 

jonas

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Wait. Why? I dont get it. Why does it need to stay at 40%? That seems completely arbitrary.
Because if politicians would solve all problems at once, there would be no need for them anymore.
 

seph ir oth

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I am fortunate enough to have flex hours involved ... I support this notion for employees as it is ridiculous not to have some sort of overtime in order. I understand some small businesses may hurt but big businesses can definitely endure this. I wonder if there's a way the gov't could mandate this on only larger companies? But then that would give larger companies an edge; employees would want to work for larger companies to ensure overtime pay ... an interesting give n take.
 

tom_mai78101

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I am fortunate enough to have flex hours involved ... I support this notion for employees as it is ridiculous not to have some sort of overtime in order. I understand some small businesses may hurt but big businesses can definitely endure this. I wonder if there's a way the gov't could mandate this on only larger companies? But then that would give larger companies an edge; employees would want to work for larger companies to ensure overtime pay ... an interesting give n take.
Call your politician to support this rule. Hopefully, it gets traction.
 

seph ir oth

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Call your politician to support this rule. Hopefully, it gets traction.
I wish I had the time! Been working in Vancouver for the last 10 days, I'll fly back to San Fran just to fly out to the east coast for my vacation (visiting fam), then have to fly back to Vancouver for another 10 days! Gonna miss my state primaries, I hafta put my trust in a mail in ballot.
 
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    please put this in the news section, it's crazy
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    Technically, you can post in the Headline News. Just posted your news there.
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