DOL Announces Final FLSA White Collar Overtime Exemption Updates
The Department of Labor released the final updates to the Fair Labor Standards Act’s White Collar Overtime Exemption. Paycor data indicates that 64% of businesses will be affected by this update. Here are the key points that every organization needs to know about the new rule:
- The new salary threshold will be $47,476. Any exempt employee earning a salary below this number could be affected.
- Salaried employees making below the $47,476 threshold will be owed overtime pay for any overtime hours worked.
- Organizations must be prepared to comply with the new rule by December 1, 2016.
- The duties test will remain unchanged.
Wondering how this impacts you?