Employers are anxiously awaiting the new DOL rules for the executive, administrative and professional exemptions, which are also known as the “white collar exemptions”. The proposed new rule would increase the annual salary for these exemptions to $50,440. But rumors are circulating that the final rule will set the new annual salary at $47,000. This would be almost exactly double the current salary threshold of $23,660 per year.
We should have the final rule later this month. Stay tuned for further developments!