New overtime payment rule closer to reality

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A new overtime rule could hit employers as soon as next October, the U.S. Department of Labor announced in its fall regulatory agenda.

Professional workers making less than $47,476 or an hourly equivalent, could stand to benefit, even if they are covered by other exemptions.

Last year, a federal judge tossed a proposed Fair Labor Standards Act regulation that would have required employers to pay overtime to workers making less than that. The rate is currently $23,660.

Observers expect a new threshold could be in the $32,000 to $33,000 range, but Democrat-backed Congressional legislation aims for a $48,412 threshold.

The Trump administration began a new rulemaking process by issuing a request for information in July. It received more than 200,000 public comments, according to Dive Insight.

The HR website reported a former department official told stakeholders a final rule could be two and a half years away, but it's unclear whether a new threshold would be set or whether it could be eliminated.