Highly anticipated proposal raises the minimum base salary for exempt employees to US$35,308, while formally rescinding the enjoined 2016 final rule that would have doubled the current minimum level.
Key Points:
• Increases the minimum base salary for exempt employees under the Fair Labor Standards Act (FLSA) from US$455 to US$679 per week
• Increases the minimum annual compensation required to qualify for the FLSA’s “highly compensated employees” exemption from US$100,000 to US$147,414
• Allows up to 10% of the minimum base salary to be paid through nondiscretionary bonuses and incentive payments
• Does not provide for automatic periodic increases to the salary level
Please see full publication below for more information.
