PREVIOUS POST 11/21/16 Do you have salaried employees? New FLSA regulations effective December 1, 2016 may change that. The Department of Labor updated the regulations defining in part, who qualifies as an exempt or salaried employee. The main changes to the regulations include:
- An increased salary threshold for full-time salaried workers to $913 per week or $47,476 annually.
- An increased annual compensation for exempt, highly compensated employees of $134,004 annually.
- Non-discretionary bonuses, incentive payments, and commissions paid at least quarterly, can be counted towards up to 10% of the salary threshold.
- The salary threshold is to be increased every three years going forward.