DOL Issues Final Overtime Rule

On September 24th, the U.S. Department of Labor announced that it had finalized a rule to amend the minimum salary threshold for overtime eligibility from the current level of $455 per week to $684 per week ($35,568 annually). This final rule will also allow employers to use nondiscretionary bonuses and incentive payments (including commissions) that are paid at least annually to satisfy up to 10% of the standard salary level. The rule will be effective on January 1st, 2020, and the DOL estimates that nearly 1.2 million additional workers will be qualified for overtime pay and minimum wage due to the raised threshold level.

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