Since 2004, the annual overtime threshold had remained at a constant $23,660, but that's all about to change in December 2016. The US Department of Labor handed down new rules that will make more than a third of full-time salaried employees eligible for overtime. The National Retail Federation estimates the changes will cost retail and restaurants $745 million to comply.
Here's a simple to understand overview of what you need to know -- in under a minute.