The final version of the U.S. Department of Labor rule on white-collar overtime exemptions was sent this week to the Office of Management and Budget, the last stage before issuance of the Rule. For our coverage of the proposed rule, issued last summer, please visit these links:
The OMB must complete its assessment within 90 days, but it may complete the review in as little as 45 days if the regulations are on a fast track. Thus, the Final Rule could be issued in mid-June, with an effective date 60 days later, or as early as mid-May, with an effective date of mid-July.
Once the Final Rule is released, we will issue a comprehensive bulletin.