As expected, on March 13, 2014, the President issued a memorandum to the Department of Labor, directing the agency to revamp regulations related to overtime exemptions. In part, the President directed the DoL to:
“propose revisions to modernize and streamline the existing overtime regulations. In doing so, you shall consider how the regulations could be revised to update existing protections consistent with the intent of the Act; address the changing nature of the workplace; and simplify the regulations to make them easier for both workers and businesses to understand and apply.”
The last major update to these regulations during the Bush administration took over two years, so President Obama may not be in office before the DoL has accomplished this missive. Depending on the new administration, the changes may or may not be finalized. We’ll watch closely as the situation unfolds over the coming months.