The U.S. Department of Labor has published final regulations increasing the salary threshold to be considered an exempt employee. The salary threshold will be increasing from $23,660 to $35,568 per year (or from $455 to $684 per week). The “highly compensated employees” exemption threshold will increase from the currently-enforced level of $100,000 to $107,432 per year.
The new rule is effective January 1, 2020.
The DOL estimates the new earnings thresholds will make 1.3 million American workers newly eligible for overtime pay.