The Department of Labor (DOL) Tuesday released its final overtime rule adjusting the earnings thresholds related to the Fair Labor Standards Act’s minimum wage and overtime requirements.
CUNA noted in its comments on the proposal, submitted in May, that it is an improvement over the 2016 rule, and requested the DOL avoid creating excessive costs for small entities. Implementation of the 2016 rule was blocked in November 2016 by the U.S. District Court for the Eastern District of Texas.
Specifically, the final rule:
In addition to the overtime changes, the Department announced an intent to conduct regular updates to promote stability and avoid disruptive salary increases that can result from lengthy gaps between salary adjustments.