New overtime law makes 35 percent of salaried workers eligible

INDIANAPOLIS (WISH) – The Obama administration signed off on new overtime regulations Wednesday.

Now, more than four million Americans are eligible for overtime.

Under the new law, employers must pay overtime to full time workers making less than $47,476 a year, which is $913 a week.

The rules go into effect December 1st.

The White House says it’s a way to restore and expand the middle class.

35 percent of salaried workers will now be eligible for overtime. That’s up from the current seven percent.

The law also includes a provision requiring an update every three years to keep up with things like inflation.