Today the Department of Labor (DOL) issued information about the final rules increasing the salary minimum for employees covered by the white-collar FLSA exemptions. While the official rules have not been published yet, here are the key points you need to know:
- The new minimum salary level will rise to $47,476 or $913 per week
- The annual compensation for highly compensated employees will rise to $134,004
- The effective date of the changes is Dec. 1, 2016
- The salary and compensation levels will automatically rise every three years
- Employers may use nondiscretionary bonuses and incentive payments (including commissions) to satisfy up to 10 percent of the new minimum salary level
- The rules make no changes to the duties tests
- The DOL has a webpage with additional details and fact sheets, which is where the officially-published rules will be posted when available
We will keep you posted on further developments.