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The Department of Labor Finalizes the New Overtime Rules 
 
Salary basis adjusted down from the proposed rule, but still much higher than current rule.

New requirement goes into effect December 1, 2016.
 
The Department of Labor ("DOL") has slightly modified its proposed rule that updates the salary basis, or minimum necessary salary, employers are required to pay in order to treat employees as exempt from overtime.

Under the final rule, which will go into effect December 1, 2016, an employee must be paid a minimum salary of $913 per week (or $47,476 per year) in order to qualify as exempt from overtime under most of the traditional white collar exemptions.

The DOL expects the new rule to extend the right to overtime protections to 4.2 million more employees.
 
Click here to find out more about the DOL's new rule and how it may affect your business.
 

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