Action Item: The U.S. Department of Labor (“DOL”) has announced its much-anticipated proposed regulations regarding “white collar” exemptions to the Fair Labor Standards Act (“FLSA”), which, if implemented, would substantially raise the minimum salary threshold and impact millions of workers.
As we detailed in a previous alert, in March 2014, President Obama directed the secretary of labor to propose revisions to “modernize and streamline” the white collar exemptions to the FLSA’s minimum wage and overtime pay requirements. The current regulations exempt salaried employees who are paid a minimum of $455 per week ($23,660 per year) and who qualify as executive, professional, outside sales, and/or computer employees.
