According to multiple sources, the U.S. Department of Labor (DOL) has changed the threshold for overtime exemption to around $47,000. When the DOL issued its proposed overtime regulations released in July 2015, the threshold was $50,440.
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The $47,000 figure would be approximately twice the current minimum salary requirement for overtime exemption.
Wage and Hour Experts Provide Commentary
In light of this news, BLR® consulted with a few wage and hour experts for their thoughts.
“It appears that the DOL may be backing off their original plan to benchmark the minimum salary level on the 40th percentile level. We’re not sure whether this means that the new minimum salary will be fixed for another period of time or whether it will change from year to year as was originally proposed,” Susan Fentin, of Skoler, Abbott & Presser, P.C., in Springfield, Massachusetts, told BLR.