Earlier this summer the Department of Labor indicated that it would increase the minimum salary requirement for what are often referred to as the white-collar exemptions from overtime compensation. These exemptions allow employees to not pay overtime to certain employees whom are considered Executive, Administrative, or Professional. (http://www.dol.gov/whd/overtime/fs17a_overview.htm)
The current minimum salary requirement for these exemptions is $455 per week or $23,660 annually. The revised number that was to start around the beginning of 2016 is proposed at $970 per week or $50,440 annually.
This change has now been delayed until late 2016. That doesn’t mean employers shouldn’t start preparing for the change now. If you would like more information, feel free to contact our offices. You can also find further information at the following link: http://www.dol.gov/whd/overtime/NPRM2015/faq.htm