McDaid’s Top 10 Reasons to Develop Your Employees, ACA employer reporting obligations, Department of Labor overtime regs, and more.
Late last night, the Department of Labor (DOL) announced a final rule that raises the minimum salary threshold required to qualify for the Fair Labor Standards Act’s “white collar exemption” to $47,476 per year ($913 per week), substantially greater than the yearly salary of $23,660 ($455 per week) contained in current regulations. DOL expects the final rule to extend overtime protections to nearly 4.2 million white collar workers within the first year of its implementation.
