TCH Files Joint Association Letter to the DOL on Its Overtime Pay Rule
Sep 25, 2017
The Clearing House (TCH) along with the Financial Services Roundtable and the Mortgage Bankers Association filed a response to the Department of Labor’s request for information on its overtime pay rule. The letter asserts that: using a uniform nationwide salary test promotes simplicity and reduces administrative burden; permitting all bonuses and incentive payments to count toward salary levels is appropriate; avoiding automatic updating to the salary level helps ease compliance burdens; and modernizing the test for highly compensated employees makes sense, as does permitting part-time employees to satisfy a prorated salary-level test.
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