Final Ruling Announcement: Required Minimum Salary for Employees to be Exempt from Overtime
The federal Department of Labor has announced its final rule increasing the required minimum salary for employees to be considered exempt from overtime. The new threshold is $38,845/year, up from $23,660. At one point in time the DOL was going to require employees to be paid a minimum of more than $47,000 annually.
Absent litigation, or action by Congress, the final rule will be effective January 1, 2020.
VW Contributor: Matthew G. Dunning