It was a long time coming, but last summer people on both sides of the political aisle agreed to overhaul the federal overtime regulations. A law was enacted and new rules took effect on August 24, 2004.
Some people believe the changes will cause many employees to lose overtime pay benefits, but it remains to be seen whether this is true. One thing is clear: Federal overtime laws have changed, and employers across the nation must familiarize themselves with the new provisions and conduct internal evaluations to ensure they comply.
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