Many employers will see their bottom line affected by the U.S. Department of Labor’s final rule increasing the minimum salary for employees classified under the white-collar exemptions from $23,660 to $47,476 annually.
Section 13(a)(1) of the Fair Labor Standards Act provides an exemption from both minimum wage and overtime pay for employees employed as bona fide executive, administrative, professional and outside sales employees — also referred to as the white-collar exemptions.
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