Tag: Department of Labor

The Department of Labor issued the long-anticipated final overtime rule May 18 and included an exempt employee threshold of $47,476—less than the proposed rule’s $50,440 but slightly more than double the old/current threshold of $23,660. The impact of the increase will escalate in coming years; the rule included a hike every three years in the minimum salary for exempt employees. The automatic increase will be based on the 40th percentile of the weekly earnings of full-time salaried workers in the lowest-wage Census region, the South. Employers must comply with the new rule by Dec. 1, 2016—a much longer time to comply than the minimum 60 days required of final rules. (more…)