New Overtime Final Ruling from Washington DC.
Am I the only one that noticed that there is a new rule coming out that affects white collar workers in the United States?
I am always amazed as law makers update things to protect wage earners.
Somehow it seems that this information often goes unnoticed by the general populace.
Personally, I can remember when I started working when laws dictated that minimum wage was around $3.80 at the time. It is crazy to see as minimum wage creeps up now to over $8.05. It is a pretty good indicator that the economy strains are present and inflation continues to rise.
Law makers have been at it to make a new rule that would encourage white collar workers to be adequately compensated for over time. This process began with a proposal in July of 2015. The window of opportunity for people to respond was up until September 4, 2015. The department received over 270,000 responses from people interested in the proposal.
In May at 2016 Pres. Obama announced to the final results of the proposed rule.
While it may not cover white collar workers such as personal injury attorneys, it could cover their administrative staff.
The provisions of the rule show:
- that it sets a regulated salary level at the 40th percentile of full-time salaried workers for lowest wage ($47,476 annual income levels) earners.
- that is sets requirements for highly compensated wage earners to the annual level of the 90th percentile for full-timers.
- that it created a system by which an automatic update of salary, wages and overall compensation occur every 3 years.
All of this will become a rigid rule on Dec. 1, 2016. This final rule will most likely be loved by employees who have found themselves feeling left in the cold with regards to their wages and overall compensation.
If you are looking for a video that goes into further details on the exact measures from the department of labor.
You can read the entire article here: http://www.usatoday.com/story/money/2016/05/17/overtime-pay-eligible-employees-workers/84504890/
Overall you can see how the American economy strives to protect workers. However, it is still questionable about the impact that forcing businesses to ante up for more funds for workers that put in over time. Most likely businesses will be more vigilant on the time they allow their workers to be employed in their daily tasks.
It was a way however for Obama to potentially raise household income above the level it has been for the last 16 years without touching the minimum wage level.