Department of Labor Releases Final Regulations Governing Overtime Exemptions Under Fair Labor Standards Act
On May 18, the Department of Labor released its final regulations governing overtime exemptions under the Fair Labor Standards Act. The Final Rule focuses primarily on updating the salary and compensation levels needed for Executive, Administrative and Professional workers to be exempt. Specifically, the final rule: Sets the standard salary level at the 40th percentile of earnings of full-time salaried workers in the lowest-wage Census Region, currently the South ($913 per week; $47,476 annually for a full-year worker); Sets the total annual compensation requirement for highly compensated employees subject to a minimal duties test to the annual equivalent of the [...]