Under a final rule published by the U.S. Department of Labor on May 23, the minimum salary threshold for employees to be considered overtime "exempt" under the Fair Labor Standards Act (FLSA) will double beginning December 1, 2016.
Currently, workers earning more than $23,660 per year are not eligible for time-and-a-half pay for hours beyond 40 in a week if they also perform certain executive, professional or administrative duties.
The final rule:
The Labor Department estimates that an additional 4.2 million workers will be entitled to overtime under the new standard. The agency issued a fact sheet and technical guidance to help with implementation of the rule.
AFS will continue to monitor this new rule and how it will impact metalcasters.