The salary threshold in the Labor Department’s imminently anticipated regulation increasing the amount of salary required to secure exempt status has been reduced from $50,444 to $47,000 per year. This was confirmed by an unnamed Democratic staffer, according to a report inPolitico. The reduction reportedly decreases the number of exempt employees affected from 13.5 million to 12.5 million, according to the BNA Daily Labor Report. Observers predict that the rule, which likely will make millions of current exempt employees into hourly workers, will be released by the Office of Management and Budget within the next few weeks. The rule’s effective date, once published, has not been determined.
For more details regarding the new DOL regulation, see our prior publications: