Removing Barriers Blog

DOL Overtime Rule Now Slated for July 2016
Posted November 24, 2015 by CUNA Advocacy

The Labor Department is now targeting a July 2016 release of the highly anticipated and contentious final rule to raise the overtime pay exemption threshold, according to the fall 2015 semiannual regulatory agenda published by the Office of Management and Budget last week.

Previous reports indicated that the rule would be released "late 2016", so this latest information provides a more specific time frame. The DOL is in the midst of reviewing nearly 300,000 comments received on the proposed rule, issued in June, which would update the Fair Labor Standards Act by more than doubling the minimum salary for the overtime exemption to $50,440 per year from $23,660.

The proposal is seen as a major part of President Obama's agenda and is at the top of the DOL's list of regulatory priorities in the administration's final full year.