Edwardsville and Glen Carbon Chamber of Commerce releases a statement on the Department of Labor overtime ruling
The Chamber of Commerce for Edwardsville and Glen Carbon, Illinois released a statement recently on the U.S. Department of Labor's (DOE) decision on an overtime ruling that will affect millions of citizens – employers and employees both.
The rule on the table concerns workers earning less than $970 per week, or $50,440 annually. If the rule passes in its current state, these workers will be eligible for overtime. As this is more than double the current salary threshold, debate continues on either side of the political spectrum. Both parties have shown support for raising the threshold, but not a unanimous interest in doubling the amount.
The Department of Labor will not release its final, revised rule until late 2016. Additionally, there will be possibly as little as 30 days between the rule’s announcement and its effective date. With all this in mind, the chamber has provided some advice to employers in the area. Options include worker reclassification before the ruling to stay prepared for all possible scenarios, trying to reclassify after the ruling, or waiting until after the next presidential election as a Republican may revoke the rule.
The rule itself was proposed on June 30. It received more than 250,000 comments during the comment period over the summer.