September 15, 2015

The Ins and Outs of the Overtime Change

Claims Management
, Legislation

On July 6, the Department of Labor announced a proposed rule regarding overtime. While the potential impacts on the workers' compensation industry are yet to be determined, here's what you need to know now.

What You Need to Know

  • The proposed rule will extend overtime protections to almost 5 million Americans within the first year of implementation.
  • Overtime pay will be extended next year to employees earning a minimum salary of $921 per week ($47,892 annual salary).
  • Another proposed change is to increase the salary each year.
  • Only 8% of full-time salaried workers fall below the previously updated salary level of $23,660, which was updated under the Bush administration.

For more information, visit the United States Department of Labor website.