The Obama Administration and the Department of Labor have proposed new overtime regulations that are slated to go into effect early next year. Here is what we know.
The salary threshold for the white collar exemptions (i.e. executive, administrative and professional) in which most exempt workers fall will rise from $23,660 to $50,440 (from $455 per week to $970 per week). In addition, that amount will increase in future years in some fashion – either tied to inflation or tied to a percentile of income.