Last night, the Department of Labor (DOL) announced that today it is finalizing its new overtime rules under the Fair Labor Standards Act. DOL states that the Final Rule will become effective on December 1, 2016, "giving employers more than six months to prepare." Of particular interest, DOL states that the Final Rule does not make any changes to the duties tests for executive, administrative, and professional employees.
DOL provided a helpful summary of the changes that were made (compared to the regulations in their current form):
Although the Final Rule likely won't be published until later today, DOL has already provided a "wealth of information" about the Final Rule on its website, including several fact sheets and overview documents that can be found here: https://www.dol.gov/featured/overtime and https://www.dol.gov/WHD/overtime/final2016/ .
Please contact a member of our Labor and Employment Section if you have questions or would like to discuss.