<prompt> Human: In 2014, the President directed the Department of Labor to update the rules regarding overtime. The Department published draft rules on July 6th, 2015. The final rules were announced today, May 18th, 2016: Key Provisions of the Final Rule The Final Rule focuses primarily on updating the salary and compensation levels needed for Executive, Administrative and Professional workers to be exempt. Specifically, the Final Rule: - Sets the standard salary level at the 40th percentile of earnings of full-time salaried workers in the lowest-wage Census Region, currently the South 913 per week; 47,476 annually for a full-year worker; - Sets the total annual compensation requirement for highly compensated employees HCE subject to a minimal duties test to the annual equivalent of the 90th percentile of full-time salaried workers nationally 134,004; and - Establishes a mechanism for automatically updating the salary and compensation levels every three years to maintain the levels at the above percentiles and to ensure that they continue to provide useful and effective tests for exemption. Additionally, the Final Rule amends the salary basis test to allow employers to use nondiscretionary bonuses and incentive payments including commissions to satisfy up to 10 percent of the new standard salary level. The effective date of the final rule is December 1, 2016.The announcement is here, along with links for additional information.  <response>: Curse my successful negotiations for the new job, I am 1k over the threshold. 