Over the coming months, the potential for overtime pay may become a reality for millions of workers, due to new regulations for employers. A commonly expected outcome is that these changes should translate into heftier paychecks. However, this might not be the case for all or even many.
At present, only individuals earning less than $23,660 annually (or $455 weekly) are automatically entitled to wage premiums for overtime, which is any time worked beyond 40 hours per week. The Department of Labor is anticipated to introduce a proposal that increases this threshold.
Speculators anticipate the proposed salary limit being somewhere between $42,000 and $52,000, even though some proponents argue for a maximum limit as high as $69,000. More information can be found on CNN Money. Photo credits to AamerJaved on SmartAsset.com.
