U.S. Department of Labor announces new overtime rules

The United States Department of Labor has finalized its overtime rule amending the “white collar” exemptions to the federal Fair Labor Standards Act.

This rule is expected to cause 4.2 million employees nationwide, including some 380,000 in New York State, to become eligible for overtime pay.

The Department estimates that the new rule will cost employers approximately $12 billion over the next ten years.

For more on the new rules click here.