Labor Department Issues Final Rule on Salary for White-Collar Exemptions
In a long-awaited development, this week the Department of Labor has issued a final rule updating the salary threshold for the white-collar exemptions for executive, administrative, and professional employees. The Department expects the change to affect about 1.3 million workers, who will be reclassified as non-exempt or receive salary increases up to the new threshold, and to result in additional pay of $298.8 million a year. The salary an exempt white-collar employee must be paid to qualify for the exemption…