Specifically, the DOL’s final overtime rule lifts the overtime pay threshold from $23,660 to $47,476 - impacting an estimated 4.2 million workers nationwide. Effective December 1, 2016, executive, administrative and professional employees who are paid by the hour, or earn less than the threshold, will be eligible for overtime pay.
Our letter was sent in advance of the Committee’s scheduled June 9 hearing on the rule. We have continued to work tirelessly to overturn this rule since its initial introduction because, in part, it would harm the ability of multifamily employers to implement, and their employees to take advantage of, flexible scheduling options. The final rule would also limit career advancement opportunities for employees.