Today the Department of Labor (DOL) announced its long-awaited rule expanding overtime protection for employees. The rule will go into effect December 1, 2016.  Highlights include:

• Raising the salary threshold from $23,660 to $47,476 a year, or from $455 to $913 a week.  Note: This is lower than the originally proposed $50,440, however, the rule includes a provision that would require the salary threshold to be updated every three years—with an expectation that it would rise to more than $51,000 in January of 2020.  Also, up to 10% of an employee's bonus/incentive payments can count toward the salary threshold. 
• Raising the “highly compensated employee” threshold from $100,000 to $134,004.
• There are no changes to the "duties" test element of the exemption analysis. 

For more detail regarding this Rule, see the DOL's resource page by clicking here.