UPDATE: May 2016
On May 18, 2016, the U.S. Department of Labor released its long-awaited update to the Fair Labor Standards Act's, which effectively double the salary threshold at which most salaried workers are exempt from being paid overtime, raising it from $23,660 to $47,476 per year. The new rules become effective December 1, 2016, giving employers a six-month breather as they prepare to overhaul their policies.
The salary threshold—lower than the $50,440 proposal originally released by the White House—will automatically update every three years based on wage growth, so as to keep current with inflation rates. It will be tied to the lowest-wage region of the country.
When calculating income, employers will be permitted to factor in nondiscretionary bonuses, incentive payments and commissions, which can satisfy up to 10 percent of the new standard salary level.
Not changed in the DOL's r...(register to read more)
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