Back in May, the Department of Labor announced a target date of November 2014 for publication of a proposed rule on revisions to the Part 541 regulations(pp. 56-57). However, Law 360 reports (subscription required) that Solicitor of Labor Patricia Smith does not believe that the Department will hit their mark. Rather, Smith “hoped to see it rolled out early in the new year.”
This delay in the expected proposal is not likely to have a significant impact on the Department’s ability to finalize a regulation during the Obama Administration. Even an early 2015 proposal gives the Department well more than a year to consider the comments and write a final rule.