As the U.S. Department of Labor continues to examine potential revisions to the Obama administration’s “overtime rule” – which was adopted in 2016 but never took effect due to a federal judge’s ruling later that year — the department has scheduled an additional public “listening session” on Oct. 17 in Washington, D.C. The overtime rule raised the salary level for the executive, administrative and professional, and highly compensated employee exemptions, which would have resulted in far more employees being treated as hourly earners had it gone into effect.
ABA encourages bankers in Washington, D.C., Maryland and Virginia to attend the listening session and to provide feedback on the effects that the overtime exemption salary level would have on the bank’s business. In previous comments, the association urged DOL to adopt a single national salary level computed according to the methodology DOL used in its 2004 rulemaking. ABA also opposed any automatic adjustments to the salary level and argued that no changes to the duties tests should be made at this time.