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News and Announcements

Week ahead: Anticipation builds for Obama overtime rule

May 16, 2016 / Media Coverage
Industry groups are anticipating the final release of the Department of Labor's overtime rule in the coming week. The rule, which would make an estimated 5 million Americans eligible to earn overtime pay, is under final review by the White House Office of Management and Budget. Groups in recent weeks have flocked to the agency to ask for last-minute changes. Those discussions appear to have wrapped up on Thursday, according to the administration's meeting calendar. The proposed rule would make all salaried workers who earn up to $50,440 a year eligible for overtime pay, up from the current $...
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Are the New Overtime Rules About to Boost Your Paycheck?

May 9, 2016 / Media Coverage
* * * A new regulation that's widely expected to become law later this year might result in you receiving more money in your paycheck. The move stems from a change to the nation's overtime laws. To understand it, you need to know that the federal government divides all workers into one of two categories: exempt workers, who are not required to receive overtime pay, and nonexempt workers, who must receive overtime pay. (Overtime pay is one and a half times your normal hourly rate for all hours you work beyond 40 in any given week.) The exempt category is reserved for employees who perform...
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Are the New Overtime Rules About to Boost Your Paycheck?

May 9, 2016 / Media Coverage
A new regulation that's widely expected to become law later this year might result in you receiving more money in your paycheck. The move stems from a change to the nation's overtime laws. To understand it, you need to know that the federal government divides all workers into one of two categories: exempt workers, who are not required to receive overtime pay, and nonexempt workers, who must receive overtime pay. (Overtime pay is one and a half times your normal hourly rate for all hours you work beyond 40 in any given week.) The exempt category is reserved for employees who perform relatively...
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Managers, millions more workers could qualify for overtime pay under Obama proposal

May 5, 2016 / Media Coverage
Let's say you're an assistant manager of a fast-food joint. You make a $40,000 yearly salary and put in 45 or 50 hours a week. Say "thank you, President Obama," because you're probably going to get more take-home pay soon, courtesy of Obama's Department of Labor. Thanks to a federal rule that could come out in little more than a week, your boss will have to pay you overtime or else increase your salary to just north of $50,000. "This is an issue of basic fairness," Obama said when announcing the proposal "If you work longer and harder, you deserve to be paid for it." Lowly paid managers and...
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Big news on DOL’s new overtime salary threshold

May 4, 2016 / Media Coverage
When it comes to complying with the DOL’s coming changes to the white collar overtime exemption regulations, employers will take any relief they can get. As a result, employers will likely embrace this suspected change to the regs. It appears the agency is backing off its original proposal to raise the salary threshold to $50,440 to qualify as exempt … at least a little. The new threshold figure being kicked around by lawmakers is $47,000, according to reports by POLITICO and CNNMoney — with POLITICO’s labor and employment reporters Brian Mahoney and Marianne Levine citing “sources familiar...
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How You Could Be Eligible for a Major Pay Raise This Summer

May 3, 2016 / Media Coverage
Millions of Americans could soon get a raise, courtesy of the Obama Administration. Last June, President Barack Obama announced a change to Department of Labor regulations that will extend overtime pay to most U.S. workers who earn a salary of $50,440 or less. * * * Supporters hope the new measure will help stem a decades-long stagnation in U.S. wages. Between 1979 and 2013, middle-income wages rose just 6%, according to an analysis by the Economic Policy Institute. Low-income wages did even worse, actually declining by 5%. Meanwhile very- high-income wages rose 41%. Part of the reason for...
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Overtime pay expands to millions who did not get it before

May 2, 2016 / Media Coverage
NEW YORK — Millions of people who work long hours today will soon get more money … or more free time. Or not. By mid-May, the Department of Labor is expected to formally expand the number of workers entitled to overtime pay. The changes are intended to give a fairer shake to very low-paid salaried workers who don’t get overtime even though they put in well over 40 hours a week. Why? Because they have some ‘managerial duties.’ But some employers could find ways around the new rules. Last year, the Labor Department first proposed more than doubling the income threshold below which someone could...
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Dept. of Labor makes 'token reduction' in new overtime pay threshold

Apr 29, 2016 / Media Coverage
The Department of Labor’s new rules for overtime pay may not be quite as bad for business as expected: In its final rule, the agency will make workers who make less than $47,000 a year automatically eligible for overtime pay, down from $50,440 in its proposed rule. That’s according to Politico Pro, citing sources familiar with the Labor Department’s deliberations on the rule. The final regulation could be issued as early as next month. The lower threshold is still nearly twice the current overtime pay threshold of $23,660, meaning millions of additional employees would qualify for overtime...
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Big Business and the Overtime Rule: Irrational Complaints

Apr 29, 2016 / Media Coverage
Business lobbyists have been up in arms in recent months over what they claim is President Barack Obama’s anti-business turn. They point to a number of policies and executive orders that they contend are anti-business. Three of these policies have gotten the most attention: * The first is a rule requiring overtime pay for salaried employees making less than $50,440 a year. * The second is a rule requiring that financial advisers have a fiduciary responsibility towards their clients. * The third is tightening up tax regulations so that it will be more difficult for a huge company like Pfizer...
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Overtime Pay: A Lifeline for the Overworked American

Apr 21, 2016 / Media Coverage
This summer the Department of Labor is expected to introduce new rules to restore overtime pay to millions of Americans — rules that require no congressional approval. From the fearful protests coming from Republican leadership, you’d think the sky was falling. “This mandate on employers will hurt the lowest paid American workers the most, by reducing their opportunities for a promotion or a better job,” said Senator Lamar Alexander of Tennessee, the chairman of the Health, Education, Labor and Pensions Committee. In fact, far from the right’s end-of-the-world, Chicken-Little economics,...
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