Department of Labor building and sign Under the new rule, the "standard salary level" has beenraised from the currently enforced level of $455 to $684 per week(equivalent to $35,568 per year for a full-year worker). (Photo:Mike Scarcella/ALM)

The Department of Labor has announced a final rule that it sayswill make 1.3 million workers eligible for overtime pay under theFair Labor Standards Act.

The rule, according to the DOL, updates overtime regulationswith new earnings thresholds "necessary to exempt executive,administrative, or professional employees from the FLSA's minimumwage and overtime pay requirements, and allows employers to count aportion of certain bonuses (and commissions) towards meeting thesalary level."

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Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.