The U.S. Department of Labor has issued its Final Rule setting forth a new salary threshold for the white collar exemption to the minimum wage and overtime requirement of the Fair Labor Standards Act. Effective December 1, 2016, the standard salary threshold for the white collar exemption will increase from $455 per week ($23,660 per year) to $913 per week ($47,476 per year), making an estimated 4.2 million American workers eligible for overtime when they work more than 40 hours in any work week. The DOL predicts that this change will result in more than $1.2 billion in additional wages paid to employees each year.
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