Apparently the overtime pay structure will be altered by the end of the year.
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.
Link:
http://khon2.com/2016/05/17/new-rule-expands-overtime-pay-to-millions-of-salaried-workers/
Has anyone heard anything more about this? I wonder if it will affect internship/residency programs, thoughts?
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.
Link:
http://khon2.com/2016/05/17/new-rule-expands-overtime-pay-to-millions-of-salaried-workers/
Has anyone heard anything more about this? I wonder if it will affect internship/residency programs, thoughts?
