New DOL Overtime Rules

Employers have been waiting anxiously for news about the DOL’s new overtime rules for Executive and Administrative employees.  According to the Society for Human Resource Management (SHRM), the DOL sent its final changes to the new overtime rules to the Office of Management and Budget on March 14, 2016. The rules will be reviewed and will take effect sixty days after publication in the Federal Register.   It is unclear how long the review will take, but SHRM indicates that the new rules will either be published on July 7, 2016, to take effect on Labor Day, or published on Labor Day to take effect on November 1, 2016 (prior to Election Day).

You can track the rule here: http://www.reginfo.gov/public/do/eoDetails?rrid=126066

https://www.shrm.org/publications/hrnews/pages/overtime-rule-advances-to-omb.aspx(subscription required).

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