Editor’s Note: The White House Fact Sheet, “Middle Class Economics Rewarding Hard Work by Restoring Overtime Pay” is available here.
From: The National Law Review
Timothy M. McConville | Odin, Feldman & Pittleman, P.C.
The Department of Labor announced yesterday a proposed rule that would impose new overtime pay requirements on employers and affect 5 million white collar workers within the first year of the rule’s implementation. The proposal would guarantee overtime pay to most salaried workers earning less than an estimated $50,440 next year.
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Although the Office of Management and Budget (OMB) has reviewed and approved the NPRM, the document has not yet been published in the Federal Register. The NPRM that appears in the Federal Register will specify the dates of the public comment period and may contain minor formatting differences in accordance with Office of the Federal Register publication requirements. The DOL announced the OMB-approved version as a convenience to the public and the DOL has indicated that its website will be updated with the Federal Register’s published version when it becomes available. The full text of the NPRM, as well as information on the deadline for submitting comments and the procedures for submitting comments, can be found at the DOL’s Proposed Rule website.