Labor Department Issues Overtime Regulations
Raises “Minimum Wage” for Exempt Employees
Traditionally, employers have not been required to pay overtime to a host of salaried employees so long as those employees earned more than $455 per week ($23,660.00 per year) and met certain other criteria. In one fell swoop, the Department of Labor has effectively raised the minimum wage for all of these employees. Effective December 1, 2016, in order to be exempt from overtime, these employees must be paid $47,476.00 per year, more than double the previous minimum wage of $23,660.00.