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Proposed Increases to Federal Overtime Salary Thresholds Provide an Opportunity to Review FLSA Compliance
13 March 2019
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The U.S. Department of Labor has announced a proposed rule that would increase the annual minimum salary requirement for the white collar overtime exemption from $23,660 annually to $35,308 annually. The proposed rule also would increase the total annual compensation requirement for the highly compensated employee exemption from $100,000 to $147,414.
Employers should prepare to audit for compliance with FLSA exemptions this year and assess whether any positions in their workforce would be impacted by the increased salary requirements.
Investors and buyers should perform diligence as to whether target businesses have a workforce that would be impacted by the increased salary requirements and what the increased costs associated with compliance would be.
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