Academic journal article Journal of Accountancy

New Federal Rules Revise Overtime Limits

Academic journal article Journal of Accountancy

New Federal Rules Revise Overtime Limits

Article excerpt

The U.S. Department of Labor (IDOL) issued as final regulations governing federal overtime pay requirements under the Fair Labor Standards Act of 1938 (FLSA). The "FairPay" provisions (29 CFR part 541) make it easier for employees to understand their rights to overtime compensation, for employers to know their related legal obligations and for the department to enforce the law. The rules update long-standing salary-based criteria for exemptions from minimum wage and overtime pay safeguards for employees in executive, administrative, professional, outside sales and computer-related positions generally referred to as "white-collar" occupations. By revising the exemption criteria, the new rules expand the number of workers eligible for overtime. Under the old regulations, only workers earning less than $8,060 annually were guaranteed overtime pay; the new rules raise that threshold to $23,660, restoring the level of overtime pay protection originally provided under the FLSA. The FairPay rules also strengthen the overtime pay protection for manual laborers and other "blue-collar" workers, police officers, firefighters, paramedics, emergency-room medical technicians and licensed practical nurses. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.