Earlier this year, the Department of Labor announced it will be raising the salary threshold for overtime exempt employees. Under the new ruling, employees must earn a minimum of $47,476 per year or $913 a week. This is a significant jump from the previous threshold of $23,660 per year or $455 per week.
You will soon see big changes to who in your company qualifies for overtime exemption. The Department of Labor is updating the Fair Labor Standards Act that will drastically change the overtime rules for salaried employees.