DOL rule would raise OT salary threshold to $55,068

The Biden administration on Aug. 30 proposed a new rule increasing the white-collar overtime salary threshold to $55,068, a 55% increase over the current threshold of $35,568. Practical impact: Exempt administrative, executive and professional employees who earn less than $55,068 per year ($1,059 per week) must receive overtime pay if they work more than 40 hours in a workweek.