U.S. Department of Labor Issues New Rule Clarifying Exclusions from Overtime Calculation
On December 12, 2019, the U.S. Department of Labor (“DOL”) finalized a new rule that lets employers leave several perks, including tuition benefits, paid leave cash-outs, and some bonuses, out of the formula used to calculate employees’ overtime pay. According to the DOL’s press release, this new rule “marks the first significant update to the regulations governing regular rate requirements under the Fair Labor Standards Act (“FLSA”) in over 50 years.”For more information, click here.