07-30-2016, 10:10 AM
http://www.forbes.com/sites/neilhowe/201...19090c673c
Quote:If there’s something that convention attendees in Philadelphia and Cleveland both agree on, it’s that America needs higher middle-class living standards. But we won’t have to wait until 2017: The Obama administration last month promulgated a new regulation that will make millions more Americans eligible for overtime pay. The regulation, which will take effect in December, doubles the annual salary threshold under which employees receive time-and-a-half after logging 40 hours a week. Labor groups are hailing this move as a victory, but many businesses are trying to avoid forking over any extra compensation. Their resistance, however, may not hold under a rising tide of laws and regulations aimed at protecting workers.
Under current law, most salaried workers who are not executives, managers, or administrators have the right to overtime pay. Workers below a certain salary level (now $23,660) are entitled to it regardless of their job duties. The new regulation extends these protections in two basic ways. One provision raises the nonexempt salary threshold to $47,476 and provides a formula to update it automatically every three years. The second provision offers more specific descriptions of job duties to determine which employees with salaries above the threshold qualify as exempt...
http://www.forbes.com/sites/neilhowe/201...19090c673c