WASHINGTON - More than 4 million U.S. workers will become newly eligible for overtime pay under rules to be issued Wednesday by the Obama administration.
The policy changes are intended to counter an erosion in overtime protections, which date from the 1930s and require employers to pay 1 1/2 times a worker's regular salary for any work past 40 hours a week.
In the fast food and retail industries in particular, many employees are deemed "managers," work long hours, but are barely paid more than the people they supervise.
Under the new rules, first released in draft form last summer, the annual salary threshold at which companies can deny overtime pay will be doubled from $23,660 to nearly $47,500.
