In a long-awaited announcement this week, the U.S. Department of Labor released new regulations requiring companies to give overtime pay to a whole new group of formerly exempt workers. Under these revisions to the Fair Labor Standards Act, it’s estimated that the rules will lead to time-and-a-half pay for all hours logged over the 40-hour workweek for nearly 5 million additional members of the U.S. workforce.

It will take at least a few more months and a public comment period before the rules, which were announced by President Barack Obama earlier this week, become the law of the land. However, companies already can get a pretty clear concept of what is coming, and should think about preparing now for these potentially major alterations to the way they categorize and compensate employees.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]