The new federal overtime rules go into effect on December 1, 2016—just over two weeks from now. There are four major changes of which employers should be aware.
- The new minimum salary for most exempt Executive, Administrative, Professional, and Computer employees will be $913 per week ($47,476 per year).
- Up to 10% of this income may come in the form of non-discretionary bonuses, incentive pay, or commissions.
- The new minimum salary level for “Highly Compensated Employees” will be $134.004 per year.
- The salary threshold will increase every three years.
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