Bass, Berry & Sims attorney Tim Garrett provided insight to Law360 on the Department of Labor's (DOL) final rule raising the minimum salary level for those employees qualifying for overtime pay. As Tim states for the article:
The DOL's final rules are significant as employers will now face a choice that could impact millions of workers. While most employers recognized the salary level needed to be raised, businesses were hopeful for a gradual implementation over time. An immediate increase by more than 100 percent will be especially difficult on small businesses and nonprofits, and employers in certain industries, such as retail and food service. Some fear that businesses will continue the move toward automating certain job functions, resulting in less job opportunities among lower-skilled workers and that the built-in automatic increase in the salary level every three years is a self-perpetuating inflation trigger.
The full article, "Attorneys React To DOL's Final Overtime Exemption Rule," was published by Law360 on May 18, 2016, and is available online.
To read additional analysis on this new rule, please read the Bass Berry Labor Talk blog post, "DOL Announces New Salary Level in Overtime Regulations."