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On May 17, 2016 the Department of Labor finalized new regulations regarding the threshold salary for exempt (salaried) workers. Under current regulations, salaried workers making $455 or more per week ($23,660 per year) can be exempt from overtime rules. But beginning December 1, 2016, exempt salaried workers will have to make a minimum of $913 per week.
In other words, the lowest annual salary an exempt worker can make will be $47,476. With a few limited exceptions, any employee making less than that will need to be non-exempt (hourly) and eligible for overtime pay. Employers have until December 1, 2016, to comply. Find out what these changes mean for your company by contacting Hunter Employment at 928-341-4664, ext 17 and asking for Tom.