May 19, 2016

On Tuesday, May 17th, 2016, the Obama administration passed a long-awaited rule that raises the cap for salaried workers owed overtime pay from $23,660 to $47,476. The cap, which has not been updated since 1975 (four decades), doubles the existing maximum annual income a salaried worker can earn and still be eligible for overtime pay. An estimated 4.2…