The Obama administration has finalized new rules that will significantly raise the salary cutoff for overtime pay.<br />The regulations, which were last updated more than a decade ago, would let full-time salaried employees earn overtime if they make up to $47,476 a year, more than double the current threshold of $23,660 a year.<br />The White House estimates that the change will bring overtime rights to 4.2 million workers who are currently excluded.
