The U.S. Department of Labor has proposed a new rule that would extend overtime pay to nearly 5 million additional white-collar salaried workers across the country.

The rule would change the salary threshold for those exempt from receiving overtime pay from $23,660 or more per year to $50,440 or more. The DOL is expected to make a final decision on the rule by July and implement the new laws within a 60-day period.

The Plano Chamber of Commerce sent out a survey via email to the city's business owners seeking their opinions on how the proposed changes might impact local companies. Board Chairwoman Kim Moore said the chamber wanted to take concerns and comments to the U.S. Chamber of Commerce and elected officials to find a suitable solution for Plano's employees and business owners.

"There is still a lot of uncertainty about when this might become a reality—we just don't know," Moore said. "And that's why being prepared is important. Why businesses being prepared is so essential is because you may have really short notice if you are a business owner about when this proposed rule may become a reality for your business."

As an employment lawyer at Strasburger & Price LLP in Frisco, Moore said she has been asked several questions from business owners wanting to know if the proposed rule would apply to them and if so, how.

To learn more about the proposed changes and how they might affect your business, click here.

Previously published in Community Impact Newspaper on April 28, 2016

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