New Overtime Rules
How will the new Overtime Rules impact you? In 2 weeks (Dec 1, 2016) the new Overtime Law goes into effect making workers who earn less than $47,476 per year eligible for Overtime pay. Forbes Magazine has an excellent breakdown of the new law and who it affects. Stay Informed! Click on this link to read more - http://fortune.com/2016/10/31/new-overtime-rules/
Does the law stipulate over 8 hours per day or is it over 40 hours a week? Corporations will have a field day finding ways to weasel around this law. I can see it now, zero tolerance for overtime.
Thanks for information.
I'm pretty sure it's in the process of being voted down. Not sure how many people will be fired as a result of this law to compensate for the money lost. I also think people will be accountable for ridiculously long hour weeks after this takes place. We'll see what happens.
I read that overtime would affect management mainly because most are pay a monthly salary and that is why they wanted those changes so if they work over time they get the pay, which by the way is different than those pay hourly. I also have known managers who work 20 hours one week but then the next week they work like 60 hours so that is why some wanted the overtime pay but if they don't work the full time hours a week in a month pay the hours would not accumulate as over time. As for hourly 40 hours are 40 hours and anything above that would definitely be payed as overtime. So this law mainly would affect anyone who is on salary and puts more hours than the usual, but I agree that anyone making less than your number should be pay the overtime if there month hours accumulate to more hours work on a salary base.
Google shows a Federal Judge blocked The Overtime Order 1 day ago I don't think it's gonna take place. :(
See comment from Douglas....
This is for Exempt employees and most likely wouldn't be an issue for most people on this forum... Ciao-
Hello again Marcus: This week that just ended, a judge OVERTURNED this new rule that WOULD HAVE gone into effect on Thursday December 1st. So there is NO new OVERTIME rule at all since it got overturned this past week on November 22nd. Here is the link: http://smallbusiness.com/employees/judge-overtime-rule/
Ain't got no job. Ain't got no money. Ain't got no cares about overtime. Wish I did.
Eastern Texas judge has suspended implementation of 12/01/2016 start date
Thanks for the information. I have another question, how will effect small business?