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
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