1.3 million more workers will be eligible for overtime pay in 2020

More workers will be eligible for overtime pay when a federal law kicks in on Jan. 1.

Why it matters: The law will give a raise to some 1.3 million employees when they work more than 40 hours a week. That's short of the 4 million who would have gotten overtime pay had a more aggressive Obama-era law gone into effect.

What's new: Employees who make less than $684 per week (or $35,568 per year) are now mandated to get paid for overtime, with the exception of managers and professionals like lawyers or accountants. That maximum is up from $455 per week (or $23,660 per year), which was the threshold set in 2004.

• Workers in states like California and New York won't be affected since laws there mandate overtime for workers who make even more than the new federal maximum.

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