In May 2016, President Obama and Secretary Perez announced rulings to the U.S. overtime regulations that updated the overtime salary threshold.
The previous salary threshold of $23,660 has persisted all of these years, limiting exempt employees from receiving overtime pay above this amount to compensate them for long hours of work. The previous threshold is lower than the federal poverty level for a family of four.
The new overtime threshold was established at $47,476 and provides wage relief to more than 4 million U.S. workers, especially those working in industries such as retail, hotels and restaurants.
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