The Department of Labor (DOL) published its proposed overtime rule Friday. Under the proposal, employees with a salary level of $35,308 per year (up from the current $23,660 per year) must be paid overtime if they work more than 40 hours per week.
The DOL previously finalized an overtime rule in 2016, but a federal judge blocked its implementation in November 2016. That rule would have raised the threshold to $47,476 annually.
CUNA had expressed concerns about this previous DOL rule, warning that the threshold change would magnify regulatory burdens faced by credit unions and could negatively impact credit union members by potentially forcing changes in employment situations.
Comments on this new proposal are due on or before May 21.
The Small Business Administration announced earlier this month several regional roundtables to discuss the DOL’s overtime rule.
They will take place in (all times local):