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ARTICLE · 19 MAY 2016

Here's How The New Overtime Rules Will Affect Entrepreneurs

Duane Morris LLP
Duane Morris LLP
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The federal Department of Labor today published its final overtime rules but, before you say or write anything about the final regulations, please take a deep breathe.

United StatesEmployment and HR

The federal Department of Labor today published its final overtime rules but, before you say or write anything about the final regulations, please take a deep breathe.

The first thing to know is that for an employee ordinarily must meet three requirements to be exempt from receiving overtime under one of the white collar exemptions (executive, administrative, professional, etc.).

1. Minimum salary.

The current minimum salary is $455/week. The DOL had proposed increasing the minimum salary to what would have been over $50,000 per year. The DOL pulled back slightly in its final rules; the new minimum salary will be $46,475 per year or $913.00 per week. Yes, that is more than double what it was in 2004.

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