The DOL: In your face once more with an overtime pay rule

October 6, 2016 by Warren S. Hersch

You would think that advisors have enough on their plate scrambling to prepare for the Department of Labor’s fiduciary rule, due to be fully phased in by April 2017.

Think again.

A new DOL overtime pay rule, finalized last May, raises by 100 percent (to $47,476 from $23,660) the threshold at which employees can qualify for the so-called “white collar” exemptions from overtime pay. It goes into effect December 1. The new DOL rule also requires that the salary threshold be automatically adjusted every three years.

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Originally Posted at LifeHealthPro on October 6, 2016 by Warren S. Hersch.