The final rule changes to the Fair Labor Standards Act (FLSA) Overtime Regulations were published on May 23, 2016, and will become effective on December 1, 2016. It is anticipated that as many as 4.2 million workers across the country may now be eligible for overtime pay within the first year of implementation. The Department of Labor (DOL) estimates that employers will spend $592.7 million to prepare to comply with the new rule, which includes time spent becoming familiar with the current regulations and making adjustments to policies and procedures and the related managerial costs. The impact is significant and affects all industries.
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