The Department of Labor announced last spring that the minimum wage required to be salaried-exempt for an employee would increase from 684 per week up to $1,059, or $55,068 annually. It was a two step process with the minimum income jumping to $844 per week (43,888 per year) in July.
On Friday, a Texas federal judge put an end to all of that. He ruled the Department of Labor overstepped their bounds, and sent the minimum salary required for salary exemptions back down to $684 per weekly, or $35 568 annually. Exempt employees are not entitled to overtime, regardless of the number of hours they work.
You can reverse the change if you had employees you raised in July to hourly payment or who you changed to to keep your exemption. First, you should think about what this means.
Click here to continue reading: Don’t be nervous about the salary exemption minimum jumping to $55,068 per year. A Texas federal judge just quashed it
