Obama Administration Seeks to More Than Double Salary Requirement for Overtime Exemption
On June 30, 2015, the Obama Administration unveiled a long-anticipated proposed rule increasing the threshold amount required to be paid to certain salaried workers before they are exempt from receiving overtime. The current rule is that any salaried worker who earns below $455 a week or $23,660 per year (i.e., less than the poverty line for a family of four) must receive overtime. The proposed rule would more than double that to $50,440 (i.e. close...
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